RE:RE:Unlocking Value - Proceeding with CautionA while back I had posted that HWO should pursue a dual listing in Australia. The rationale is that the companies primarily involved in PNG are from Australia so HWO would attract a better following in that market from an investor perspective
Given that the final investment decision for PNG LNG is coming quickly, I don't understand the impetus to make this decision to take the PNG business private right now!
I understand distributing the excess cash, I also understand that the need to sell off the Canadian business to realize on the tax losses; however, in order to do so they also need to liquidate the remaining North American Assets.
Up until this point they have been patient (much to some shareholders chagrin) in making capital allocation decisions so it is not clear why the rush now to liquidate the PNG business at the bottom of the cycle and trap all of the public shareholders in the private company.
I am keeping an open mind but they need to have a very clear rationale for this to make sense over the other potential options.
LR