sleeping beauty . .., page-10

I'd agree that mgmt are making smart aquisition moves, but have been for years, neither smartened up nor dumbed down in that respect.

Problem is the drill bit, despite trying all angles in the Perth basin: Extensive 3D, basin studies, back to back drilling for 2 years, buying into the offshore.

Fact is nothing has worked. Is it just bad luck soon due to be rectified, or are they failing to acquire/retain top notch geo skills in the tight market, or perhaps the acreage really is dry.

One thing for sure. If their programs fail, they wont be leaving a heap of cash to distribute to shareholders after Jing and Ere/Hov have run dry. If they fail the cash will all be burried in the Canning and Perth basins etc. Hence not sure that NPV calculations help. It's a do or die future.

EL