Not sure about bright blokes with very good track record.
STU paid 100% (~$25million), using borrowed money, to fund a wildcat well and they didn't even earn into the permit, only the well, which was a dud.
The reason for divestment of Timor asset ?
Dont know. Maybe STU's bankers have said, Tino, stop this madness!
The diesel plant sounds like a safer option to build shareholder wealth although I note the other JV partner pulled out. But if the banks approve the funding I guess it must stack up.
Agree its worth watching
how would you price 30m b, page-2
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