RE: INA will not lose AST's supply..9 Aug 2018 22:24
This is a huge gas field and we have barely scrstched the surface to date. This massive gas field was always going to be developed by the big boys with much deeper pockets.
INA, MOL both seem front runners as it is close by to both of their existing infrastructure.
Through its JV deal terms, AST has the first rights upto 90% (I think) of first revenues to recover their Eur 100m costs (from memory).
IPPC permit is needed to build the gas plant which increases Gas output many folds, hence much higher revenues for the both JV partners in Petisovci gas deposit.
Any bidder will need to Buy out AST JV stake in this highly lucrative licence, plus pay AST Slovenia back costs of Eur 100m incurred to date.
That's the T/O angle for the bidder. Even at 4p a share this deal would be a steal for the likes of cash rich INA or MOL...
Imho, Dyor.