Exactly Clark.
Why go through the cost and risk of drilling to find oil and gas, when you can buy it for $6 per barrel. Any Oil and gas exploration company would give its eye teeth to acquire oil and gas reserves at the equivalent of $6 per barrel. Most pay considerably more and run the risk of unsuccessful exploration.
Any takeover of Beach at current price is daylight robbery! Still, if it doesn't happen then the management at the likes of Santos, Arrow, Queensland Gas (to mention just a few) must be asleep at the wheel!!!
proved probable reserves valued at aud 6 per b, page-3
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