I think someone bigger too. I would think Alcoa don't want to get into the gas development business. They only want a reliable, cheap supply of gas. I suspect Alcoa will farm down to an international (in return for free gas going forward) and TSV will seek to sell out completely (given the demerger, and management creating jobs for themselves going forward). Leaving something like Alcoa 30%, Shell (or another international) with 70%.
Just hope TSV shareholders get a good price. Although its probably worth 30 cents or more, with potential proven but a heap of development spending still to come (given good flow rates). I think we will be lucky to get 15 cents (I know people will say that is vastly undervalued). But even 15 cents is x3.5 from here.
TSV Price at posting:
4.1¢ Sentiment: None Disclosure: Held
