RE:RE:RE:RE:Got what we wanted: 2 pro-rated listed companies & full ROC
So it appears that the re-org has been significantly de-risked in the last week or so. Both spincos will be adeequately capitalized with good prospects going forward and a reasonable opportunity for a dividend in the Canadian operations as colourama points out. There is some uncertainty with PNG but I think the risk is in the timing of contract wins not in the question of wether they will win business.
The book value of the whole company after this quarter is $2.04 (diluted) so clear upside is still apparent.