takeover price, page-41

Re the so-called 'mountain of debt' mentioned in the previous post:

- Debt reduced from USD3.8B to 3.4B at 30 June.
- The lpg plants are completed so capex has virtually dried up compared to huge spends in recent years
- is now throwing off huge amounts of cash - USD843m held at 30/6.

There is no doubt the commencement of production of LNG has had a profound impact on the company.

Should not be sold off at give-away prices.
Can't see PNG Government selling its 10% at rock-bottom prices.