Origin taps the mat, page-2

I don't think this is idiotic at all. I think this is extremely smart on their part. The NewCo will basically be a bigger mid-tier than Beach, well funded from the IPO with diversified assets across Australia and NZ. And it won't have the super high overheads and red tape of the current integrated company.

These are mid-tier assets and they need a flexible mid-tier to run them and unlock value, not a ponderous behemoth that's laden with LNG debt and a history of wasting money. I'll be looking at buying shares in NewCo for sure.

Origin were idiots for getting themselves in this mess in the first place and spending like drunken sailors on largely worthless assets, but IMO this is a really positive move on Frank Calabria's part.

And to tie this discussion back to CTP, we're far more likely to get interest from NewCo than we are from Origin. So a positive for CTP too.