RE: Energy Transition12 Feb 2023 22:19
Everything on the face of it makes EQT an attractive investment, the only issue is that DP’s and the BoD’s behaviour has put a gun to the shareprice and blown its brains out !
Their credibility is shot and it’s going to take a big turnaround to gain it back.
They have failed to deliver, missed self imposed deadlines, made ill thought out investments, spent cash like water and treated shareholders like a fatted cow they can drain at will.
Will we see any progress this quarter, will the Deeside long stop date come and go without an agreement throwing that project further into the long grass? , as for Billingham and Southport they are no longer on anyone’s radar, North Fork is up in the air, with us not knowing what holding EQT will come out of the bankruptcy protection with? Croatia and Greece are also in financial limbo, as is the new French project.
There is no doubt EQT is now at an inflection point, if the company continues with its current disastrous performance then 2023 could be worse 2021/22, and if we are forced to raise more cash for operational costs that will be the end of EQT as an investable company, if they can actually deliver anything, just a fraction of the reported pipeline then the company should take off exponentially.
Personally I don’t think DP is up to the job, and only has self interest at heart.