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clock Created with Sketch. 28/09/18
08:21
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Originally posted by brucesterfer
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Have been looking at this. discounted fair value of the gas that CTP is required to supply either in physical gas at Ballera (on an ex-field priced basis) or via financial settlement. The risk of this agreement comes to light in Jun-17 with the liability blowing out to $21.8m, implying a discounted present value ex-field price of $4.19 per GJ...still a very low, ex-field gas value. From what I can tell, this is unwinding at c. 14% and therefore, all things equal would imply an ex-field price of $4.80 and $5.13 per GJ at Jun-18 and Dec-18 respectively...
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You would think they sold the gas to MCQ at a floating price, recieving prepayment on the proceeds based on a haircut to the prevailing price at the time of the deal.
