RE:RE:RE:RE:PNG restart in Q4Yes $4 mil reduction in G&A in Canada as indicated in the previous release.
PNG rig re-activation story will unfold over the next few quarters given the current dynamics within the LNG market. I foresee all rigs to be re-activated by year end 2023.
What I am not able to fully wrap my head around is what will they do with so much cash on their balance sheet. Assuming they again announce special dividend of 20 cents, and keeping 15-20 million as working capital, they will still have about $25 million left. IMO If this will be a $2.5-$3 stock or a $5-6 will depend on where that money goes.