RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Deal is now Done - way to go Alfred!!! PEA top pick for 2019roscoe74 wrote: teevee wrote: LOL...book value of infrastructure? Best joke I have heard in a while. You must have forgotten the attempt to sell these purported valuable infrastructure "assets". They went no bid, and a few pennies on the dollar for those in use.
roscoe74 wrote: Uh huh. So according to you, rather than acting in a prudent manner, AIMCO threw $50 mil into the wind to avoid taking on the bogus liabilities you conjur up?
Did you forget the blowdown value of their reserves or the book value of their infrastructure? Thought so.
You must have forgotten the $23 mil asset sale that was not completed because Pieridae decided to keep the infrastructure. Ikkuma is unable to develop their assets but Pieridae is - big difference. Not that you will notice or understand.
Fearmongers need to enhance the negative and ignore the positive. Go away.
The only way to value this company is by looking at what the value of a future cash flows post 2023 would be with proper financing...
The other thing you have to consider is Alfred is long $20M of his own money. Think he's going to dilute himself on the big raise?
MS is taking them around Europe to speak with Infrastructure funds. Maybe it just goes Private given the access to cheap funding, and make the bonds public.
When it comes to a strategic coming into this.. you are basically buying the a fully licensed, permitted, approved LNG facility with half of its inventory sold (Uniper), half of its needed inventory acquired (IKM) and the potential to significantly reduce its project cost (25% synergy) if it can secure the other buyer/source... Then you are talking $1B in annual cash flow on a $1 spread.
Cost to produce mmf - 20c/mcf
cost to transport - US 2.50/mcf
EU LNG landed cost is still $8+
PV%15 is $10 on a $2 netback.
Biggest risk now is capital raise. But this is a long term play.. good in the hands of PE/Infra Pensions. If this goes any lower its going to be taken out. If the capital markets unfreeze this is going way higher.
New year.. new trend.