Yep that’s how it’s set up. GP has carried interest to reward staff, tax effective etc. That’s the best way to structure it. Overall, it doesn’t matter a great deal whether this is 100% Sheffield’s own money as LP or a lesser amount. I reckon it is 100% which means greater personal commitment from him. And I reckon there is probably no medium term exit requirement.
This vehicle matches TBN $ for $. If doing their job properly, TBN would have looked for evidence of funding commitment/capability in striking the original deal.
Main takeaway is that about A$250m is now committed to making this happen. Jaw-droppingly positive, I’d say.
Beetaloo or bust: the route to commercial success for an Australian shale play, page-97
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Last
18.0¢ |
Change
-0.005(2.70%) |
Mkt cap ! $312.6M | |||
| Open | High | Low | Value | Volume |
| 19.0¢ | 19.0¢ | 18.0¢ | $389.7K | 2.157M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 130947 | 18.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 18.5¢ | 148863 | 2 |
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| Last trade - 16.10pm 19/02/2025 (20 minute delay) ? |
| TBN (ASX) Chart |