Post by
indoubtgetout on Mar 23, 2016 10:19am
Deep Value but more contract progress needed!
Aside from JC, VSN's 50% interest and operatorship of the Alliance Pipeline is worth the entire enterprise value of VSN. So buying VSN means you get everything else, after debt, for free. That is value investing. VSN needs more progress over the next 12 days to sign at lease one more off-take agreement in order to be remotely successful with their appeal. Off-take buyers, if they truly have an interest (and any integrity) will strike a fair deal NOW! - no more fence sitting for the Japanese. VSN is worth owing because of it assets and get a dividend while you wait for value to be unlocked. Maybe ENB would be interested since they effectively own the 50% of the Alliance Pipeline through ENF - however, ENB probably does not have the expertise or capable management to realize that buying VSN now would make complete sense. BUY VSN for value.