RE:WI increases 2.5% after just one month of OwnershipThe increase from 85 per cent to 87.5 per cent ownership of the SPV came as the result of Valeura's cumulative cash contributions to the SPV.
The minority shareholder of the SPV which is Panthera would have received $7.2 million US as its share of free cash of $12 million US per month totalling $48 million US since Aug 31/22.
Basically, we received an extra 650 bpd of production for just over $7 million US.
Going forward, as the cumulative cash inflows to Panthera increase , Valeura will own all of the SPV, gaining about 3000 bpd of production .
That period should not last beyond a matter of months, given that estimated free cash flows will double once the Mubby deal closes in a month or so.
This is yet another very clever arrangement negotiated by Sean and yet another very positive surprise announcement for shareholders.
Which leads to the matter of the next acquisition .
Sean will not fail us in that promise either..