I got the impression that they'd get to the Christmas break with everything pretty well ready to go. I'm annoyed that it's taken this long, but also excited for what's ahead.
VEN have made it clear that:
- Payments will be monthly- Repayments will be a minor portion of revenue
- They are keen to get an Odin GSA sorted as soon as they have joint marketing aporoval.
In addition, the JV should produce around 4.5 PJ per annum, prior to Odin. The 1 PJ from 2022 will roll into the 2 for 2023 (3 total), leaving around 1PJ for spot (taking away some volume for ramp up for a total of 4PJ)..
Assuming $10 gas price and $20 for spot, this would gross the JV around $50m. High side costsay be around $6, leaving $26m. Repayment of prepayment would be $1-2 per GJ - removing a further $6m max. This leaves $20m net to the JV in 2023 CY, or $5m to MEL. That's half a cent per share. This is prior to Odin.
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Mkt cap ! $3.665M | |||
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