High Arctic Energy Services Inc T.HWO

PAPUA PM: Delayed securing finance not canceled

[Resilience2]

https://www.thenational.com.pg/papua-lng-will-be-delayed-by-months-pm/

Clearly some hickups, let's see, but these kind of projects always run over time.

[colourama]

What I would like to see HWO do is get the $0.75 RoC back to us asap, and re-institute the $0.005/month dividend which hopefully can be sustained just from the Canadian rentals side of things. Then I can wait all day for PNG to do something or not, with the remaining capital giving a nice dividend yield.

[Northforce13]

I think everyone feels the same. Different threads of thought would be; 1- Perhaps they legitimately have reasons to withhold a portion of the capital due to potential Canadian acquisitions that are good bargains, or good ROI on organic growth 2- Perhaps, conversely, they want to motivate share holders to vote for some crappy "spinoff" to a private company, and share holders are more

[auburn2]

My understanding: HAI as a private company is off the table. That's different from separating them. Shareholders want a public, Canadian listing.

[longrun86]

My view was and still is pretty simple. The Canadian entity and its assets would act as a catalyst to list Team Snubbing or would be sold off to a larger player. I am not sure their is too much of a rationale for another small cap rental company on the tsx and history hasn't been too kind to the others (Enteprise Group, Strad, Cordy certainly come to mind). There are a bunch of small pieces

[Possibleidiot01]

You have a point that size does matter. I remember Strad fondly , made money there - mostly after the takeover was announced:) Glad to see you mention them.

[longrun86]

Perhaps the Japanese will fund PNG LNG... This article that just cam out announced a delegation of 50 Japanese investors arriving in PNG. https://www.looppng.com/business/japanese-delegation-explore-investment-opportunities-124943