Why we shouldn't sell, page-10

Wishlist,

You want a small cheap board with a couple of accountants and no deep industry wisdom when the serious decisions need to be made?

It’s the impatience of your ilk that got us the board change, that lost us the astute decision making board and CEO, who in hindsight sold Thailand at a great price (even acknowledging a small part of the payment was defaulted), that got us a series of CRs at well above the current price. Even the sale of 10% was at a price you wouldn’t get now with STO resolute in holding back on FID and further exploration. Board fees are peanuts compared to the cost of one poor decision.

Having said that Nero was probably right to have pushed for more aggressive cost costing during the lull in activity, and I do appreciate them firmly ruling out asset acquisitions. Oppies had probably got a bit generous too. However you don’t need a board change, or to roll an astute team.

Perhaps you should sometimes be careful what you wish for.

EL