A few comments on your post cruiser51. Any valuations that are...

A few comments on your post cruiser51.
Any valuations that are in la la land either on the high side or the low side , can be and often are contested.
It is the duty of the directors to ensure that the valuations are in the best interests of shareholders.
Woodsides break-even point for oil is likely to be low because oil and condensate is a byproduct of their main product which is gas. They may also be referring to BOE's which is not the same economic value as oil. (BOE is calculated on energy output not dollar value.)
Offshore has its attractions because they don't have to contend with years of negotiating with TO's, and they have no ongoing harassment due to fracking. These two factors alone have caused years of delay which result in significant value destruction. Hopefully BRU is over the worst of it.
I worked with Burmah Oil Company when we made the first discoveries on the NWS, and you are right that the domestic gas contract got it all kicked off, however, it would have been further explore developed a few years later due to the intense demand for LNG coming out of Japan at the time , then Korea and now China.