RE:RE:RE:RE:WORLD NEEDS NAT GAS -LEGAULT SABOTAGES QUEBEC NAT GAS OILThird Eye Capital is the debt owner. The gas field assets are security for the loan. But they could not do anything with the assets if they seized them. (No one can. It is not even clear what PEA is going to do now that it has no direct way of getting the operating licences that Shell has.)
So there has to be a restructuring of the debt.
And there are no real assets when it comes to the LNG dream. Maybe one reason TEC does not push the restructuring sooner rather than later, is because if the fderal overnment decides to thow money at the LNG project... as it stands right now, TEC has a big claim on that.
In that Cheap Valuation thread yesterday, I itemized the pieces of the PEA debt.