If they wanted an off take agreement for their refinery then the best bet would have been to get in with the CR 18 months back and provide some level of debt funding on this. Not saying that they couldn't do this with WL as from my understanding Nido is looking at their funding options on this. Though having an offtake agreement is good none the less for bank financing as it's clearly a hurdle for financing arrangements.
I wonder if Galoc or even WL crude has gone to their refinery in the past and whether it was Bangchak Petroleum that initiated the talks with My Thai on the stake. Being off market it proposes that the offer was too good for my Thai to refuse and it also sounds that he could have known about the details of the corporate action or the transaction for the parcel has something to do with WL.
NDO Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held
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