tui/matchbox & others: In my opinion, VPE has missed an...

tui/matchbox & others:
In my opinion, VPE has missed an opportunity terribly or alternatively both CTP and Cape Lambert have screwed up royally - BUT I do suspect the former.
Here my reasoning:
In June 2009, VPE wrote out PEL 115 for farmout (document can be seen on VPE's website - former ASX announcement). Like most people, I do believe that it was prudent for VPE to farm PEL 115 down, as obviously VPE (same like Santos in the same area) did NOT perceive this area to be very prospective.
Later on, MHL farmed-in for two drill and partly de-risked their entry (also due to short of cash) by farming their stake down to 42% (Lion taking a stake).
NOW it becomes more interesting, timeline-wise:
On 7.12. two ASX announcements:
- Fury confirmed as a future oil producer
- Fury to be completed for production testing
On 16.12. CAPE LAMBERT takes a cornerstone stake in MHL
On 17.12. CTP is becoming a SUBSTANTIAL holder in MHL

So, between 7.12. and 16.12/17.12 (when VPE as OPERATOR in this Fury-1 drill could see all the beneficial potential outcome of this OBVIOUSLY first hand and quite CLEARLY~!) two unrelated oilers jumped onto the opportunity and both took significant stakes in an undervalued MHL.
WHY did VPE not jump onto this in the first place - after all VPE has cash at hand.
In my view, VPE has done a big mistake. (Or would some legalistic reasons NOT have them allowed to take a stake in MHL ??)
Comments most welcome.
wasa