Brett Woods has only been chief executive of the Seven Group’s domestic gas play, Beach Energy, for four months. But he’s under no illusions that he faces a tough task winning back the faith of the market.

Beach shares memorably plunged 22 per cent in a day in April after the company revealed yet another cost blowout at its troubled Waitsia gas project in Western Australia; originally estimated at between $700 million and $800 million, Waitsia is now expected to cost about $1.3 billion.