Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
You would really have to throw in earnings in there to get the full picture. Pretty simplistic view of things.
It doesn't really matter. They have paid down a chunk of debt in exchange for 60 odd percent of the company.
We get 5%.
Obviously they will want the share price to rise once they have equity in the new company
What's the debt pile of the new enlarged company Happy?
Market cap will be a lot bigger than that imo
Well, what are they looking to do with that 2.4billion? Negotiate interest rate?
I mean, 2.4billion is not due June 2021?
Looking to refinance to the tune of $510 million
$1.97 net debt
https://www.eia.gov/petroleum/supply/weekly/
Better than API, yes
Does anyone know how much debt is already due and/or due in June 2021?
I'm assuming 300 odd million?
They are raising equity to pay for the BP assets and pay down a chunk of debt.
Looks like they can't make repayments due in June 2021 so they are going for an equity raise which, if works, will finally sort their balance sheet out.
Some people here are very concerned about the obvious dilution in shares, which the market is aware of, others are optimistic and think that at healthier balance sheet will bring in more investors which will add value to the sp in the long run.
Old news
Jono,
How could the oil price not average at least $55 over the next 5 years.
Do you really oil is going to continue to be produced at a loss all over the world?
FCF was something like 25 million in H1.
"Premier continues to seek to protect its revenues through its hedging programme with just over 20 per cent of its second half 2020 entitlement volumes hedged at an oil equivalent price of $56/boe."
Another interesting one in there;
$100 million on other assets.
"Net debt reduced over the period to $1.97 billion (31 December 2019: $1.99 billion). This excludes c.$55 million of hedging receipts in relation to the first half which were received post period end"
Jono,
Very simplistic way of looking at things.
We are talking forward curve here. That means they are including production declines and a base oil price based on where we are now.
But......you are correct. They are clearly not making much at current prices. But they have cut Capex and I believe there is some hedging swapped into H2 2020.
Jono,
Where did TD say that?
SK, the creditors part will be completed first.
Once confirmed I think you will see a jump
Exactly. That's the first step. Once that is announced, expect a massive jump.
Then people can talk about RI
Well, that's my point.
If the debt to equity swap happened at a later date, ie when oil prices are higher then less shares would need to be issued to cover the debt obligations
How can a company be worth more after paying down a chuck of debt and purchasing valuable assets?
Come on SK
Not helpful SK ;)