Thai results 1st qtr. mid may I continue to be amused with the differential PBG/PBN. Although it's narrowing down, an intrinsic $2-3 split still exists. That's if Kerrobert utterly fails!
My eternal optimism sees Kerrobert continuing to ramp up into may, I've got to wonder how many tankers leave location every day, or at least how the numbers of tankers has increased daily since the end of february. By now, we're producing bitumen, and gas production is stabilized, with complimentary adjustments to injection.
Anyone out there been staking the location and counting tankers? At 3500 bbl/day there will be a $5-8 differential in stock values, with several more $'s. for Thai potential.
As 'drip' progresses, it's wonderful to find PBG buying back (to extinguish) their own shares as well. I understand that this is at a rate of approx. 4.8 million shares annually. Meanwhile, 'Drip' flow thru is approx. 7.5 million in lieu of $100 million cash dividend option.
PBN is down to $200 mil. in debt. With a $800 mil line available. It is wonderful to find such conservatives in operation.