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High Arctic Energy Services Inc T.HWO

Alternate Symbol(s):  HGHAF

High Arctic Energy Services Inc. is a Canada-based energy services provider. It provides drilling and specializes well completion services and supplies rental equipment, including rig matting, camps, material handling, and drilling support equipment. In western Canada, it provides pressure control equipment on a rental basis to a number of exploration and production companies. Its North American service lines include nitrogen and oilfield rental equipment. Its fleet of pumper units operate onsite to deliver nitrogen to the oil and gas industry when and where required. Its International Operations service lines include drilling rigs, workover rigs, worksite matting and rental equipment. Its fleet of specialized rental equipment includes camps, cranes, trucks, forklifts, pumps, gensets and lighting towers. It is also focused on offering pressure control equipment and equipment supporting the high-pressure stimulation of oil and gas wells, along with other well site rental equipment.


TSX:HWO - Post by User

Comment by Stonksonlyup90on Aug 06, 2023 11:18am
100 Views
Post# 35575387

RE:RE:HWO: don't think ppl understand the situation, have a read

RE:RE:HWO: don't think ppl understand the situation, have a read Sure, that math shows there is value.. however, IMO value would be greater if PNG co was spun off into a publicly listed ASX.

A) You wouldn't need to add additional capital
into something you already own (potentially $0.25+)

B) You'd have the optionality to sell whenever you'd like for certainly > $1.00 in the coming years as PNG LNG ramps 

C) None of the above impacts the ability of the company to return $0.75/share as a ROC in a few months

The ONLY REASON that management is considering spinning out as a private company is to squeeze out retail shareholders and allow for Cyrus to take ownership % over 50%.. Cyrus will then hold for 2-3 years until LNG activity has a lot of momentum and then they will either sell the company OR list publicly on the ASX at that time (making many multiples on their investment if they are trying to argue $1/share value now).... oh and in the meantime, as the company is private and out of the limelight they will line their pockets with exhorbant salaries/directors fees at the expense of other shareholders in the private co.
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