RE: Scary numbers13 Nov 2025 12:26
Indeed! Worth reminding those that need reminding that Conrad going into a full suspension to finish signing all the documents is actually a strong sign the deal’s big and basically done. They wouldn’t need this extra step for a small or weak farm-down. EME’s still sitting on its full 8.5%, the GSA and pipeline are already lined up / funded, and the only thing left now is the announcement. Once the terms drop, the market will finally have a proper valuation to work from - and that’s where the real re-rate (or a subsequent sale) happens. GLA