Date of special meeting - June 17th Record date - May 13th
I think the actual proposal will be shared on or before Q1 release around May 10th.
Given the public spinoff there will be some value attributed to the PNG business - my best guess is around $20 mil
Canadian business along with team snubbing ownership and tax losses should around 40 mil
Overall initial value unlocking this summer will probably be around the $1.85- $2 range.
I don't see the Canadian business being taken out but they might want to scale it up atleast for the next year or so. If they are successful and can generate $12-$14 mil EBITDA, valuation will jump to around 60 mil in a year.
PNG will come up sometime in 2025. and when the rigs get busy a $50 mil valuation is not improbable.
overalll- a $3-$3.2 value unlocking can happen over the. Next year or so.