How about,
1. Significant oil production drop due to decline of mature fields
2. No clear new field development plans underway to plug the gap.
3. When these do kick off there will be considerable project costs
4. New LNG plant requires very considerable development capital.
5. Overseas initiatives may work but will take substantial upfront costs before any returns.
6. A perception that management does not have a robust plan to address the production decline issue
7. Looming redundancies do not encourage morale
8. No immediate take over rumours.
Could be any or all of the above.
Cheers
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