DDD,I don't often defend mgmt as they are generally very well...

DDD,

I don't often defend mgmt as they are generally very well compensated to take risks with our capital with very little of their own capital at risk (and I don't mean the free performance shares gifted by BoDs) ... but who exactly would you want to remove? Fat lot of good that would do. DM? His vision (and HG) got us here.

What I really need to see is the impact of those GSAs ... and that's going to be evident in the 2H FY'21 .... so this 6 months. Either we have set ourselves up as the key PORTFOLIO supplier of East Coast Aust domestic gas for this decade (don't care beyond that timeframe) or we have failed and we languish around that low fair value shown above. I so badly ant OP3D+ to get developed ... I differ from Proga in I could care less about Manta (because of condensate complications).

So yes, a low ball T/O concerns me a lot .... just as myHC101 raised with STO (which I owned and still owned and significantly increased my holding). LNG also sold on long term GSAs with some slope linked to oil pricing ... which gave buyer a ceiling price protection and seller floor price protection with some volume variability. Time was necessary to get them over the line (and extra capital raised ... which investors provided to ward off the raider). But it also confirms others see value and a good return for them using the capital provided by us (the long term equity holder).

What would new mgrs/BoD achieve other than a new window to dress. Change in strategy (if so I'm out)?

I've put my faith in those GSAs ... we have the gas in the portfolio ... APA has to deliver or make whole (not talking consequential damages payment but post TA).

Short Interest
https://www.shortman.com.au/stock?q=coe