I am trying to make some sense of the latest ASXRelease.Am I correct in thinking that Magnolia LNG Holdings has purchased all interests in USA entities (Magnolia) plus the OSMR process technology? Bear Head LNG in Canada will have a permanent licence for its use.
This leaves us the rest of old LNG Ltd.Bear Head in Canada, on which we have spent more than US$100 million on development,engineering and construction, and the proposed Bear Paw Pipeline,
So, what do we have – The USA bit now under USAmanagement, our Canadian bit (cost a mint and up for liquidation and sale for whatever anyoneis prepared to pay, and the licence to use the OSMR technology?
If this Magnolia recapitalisation eventuates, we willget shares in the company to the value of AU$2M note.If I am correct this would be approximately $2,000,000/572,000,00 shares = 0.34 cents/share.
This whole exercise appears to be just tossing out thenon-USA assets and recapitalising the flagship assets (Magnolia and OSMR) undernew management in the USA.I thought LNG Ltd could have done something similar.J L
