Pieridae Energy Ltd T.PEA

FID soon

[ngtraderng]

Their self-imposed deadline of June 30th is coming up. Let's see if they make a decision or postpone it some more. I'm looking forward to seeing what kind of rabbits Sorensen pulls out of his hat.

[commonsense9]

Nit pick: it is not a decision. Pieridae does not get to "decide".  It is whether they conjure up an investor with at least a billion to put into this (not maybe put it in, if, and if, and ....) But the curiosity question is the same. It is highly unlikely they will make the "deadline".  So I am curious to see how it is all spun. My guess: feature good news on

[Maxmoe]

With gas prices on a tear and gas producer stocks up 3,4,6, even 10  times their lows last year, maybe the best idea at this time would be to walk from goldboro or put it way back on the back burner and just crank up the gas production out west. Maybe it's just too far down that road to make a big strategic move but  I'd give it a serious . Look if that monstrous  project

[Bosslady]

.....you are funny Maxmoe! Bids down this morning...a feint?

[commonsense9]

Might have something to do with no FID. And probably no other announcement either.

[ofirme]

What you said might be the best thing to do. you put the cashflow into bringing dow debt and  some drilling and within a year you could refinance. the carbon storage project is the one   worth persuing as the lng canada project is run by shell and the esg will be very important  to them. Pieridae has conventional gas and a carbon offset project. this should be quite   

[commonsense9]

Makes sense to me. But there is a catch. There is no positive cash flow right now. People have to read the actual quarterly statements, not just look at higher gas prices in isolation and not just take the spoon fed pap management serves up. So how do they pay down the debt? IF they did not have those inerest payments, and IF they stopped spending anything on the LNG dream development, there

[BigFanLNG2018]

Don't forget that there is still a public hearing to determine if the Shell acquisition will be approved.  As it stands, Pieridae could end up having to assume a whole lot of liability to keep the assets. 

[ofirme]

actually most of the liability is for plant site conteminations and that stays with Shell.

[commonsense9]

Its complicated. But the second application to AER already has Pieridae with all the liability now. But Shell has a financial responsibility to Pieridae on that- which I cant figure out what that means if Pieridae gets the licences, then goes broke.

[ofirme]

a few things about your questions: 1. Goldboro is sucking a ton of money each quarter and it is all EXPENSED as it can be       considered capex only if an investment decision was made with the finance in place. 2. Hedging - until now a large percentage of the ng & ngl had to be hedged (60% for      8 months), but now the production can be hedged at higher

[ofirme]

doubled added margin - should be $34M on the ng side, not $68M. sorry.

[commonsense9]

That was the point when they first flew this hope 8 years ago. Then 4-5 years ago they got their US export permit. But it had a big catch they never mention. They have to get the gas through on existing pipeline capacity. The US will not permit any pipeline expansion  they would need to get the gas to Canada. From then, they had to look to Alberta.