Anyone who still see's oil as the primary driver for TEG...

Anyone who still see's oil as the primary driver for TEG creating shareholder value has their head in the sand.

TEG have a prime acreage for renewable energy development and they have a bunch of shares in GAS to fund their part of the development.

Unless management have heads full of rocks they will be planning to wind up the oil side of the business over the next 12 to 24 months and focus on repurposing their vast asset portfolio. Now people tend to see the existing assets as something of a liability, as does the balance sheet given the remediation costs that will be encountered but the thing is many of their assets will retain value in their new life as renewable energy assets. The platform for instance sits in one of the best offshore wind environments in Australia and in around 20m of water. This would make for an ideal primary substation location should they develop an offshore wind farm, with a pipeline access route secured back to shore you have a perfect route for the HV transmission line. Arrowsmith an ideal spot for the secondary substation where the solar side of things could also tie in. They have an approved energy facility with Arrowsmith also so should they set up to generate hydrogen from their renewable energy then they have a facility with many transferrable utility systems.

The thing is they would still need to plug and abandon the wells but the majority of the assets would theoretically be able to be repurposed.