in theory this should be a good stock....power companies offer...

in theory this should be a good stock....power companies offer reliable earnings, easy to manage...in theory

in reality, i think this enterprise has been spectacularly mismanaged by bnb loading it up with debt and then bbp with outages at peak times, write downs etc

2010 FY should provide increased earnings, with bhp taking flinders power, alinta upgrades to earnings, varanus island exposure delivering cheaper gas etc

unbelievably, i think they have done really well with sales over the last 9 months....uranq, kwinana to name but two, all selling above book value

the question is, whether the promise of increased earnings is enough to keep the banks holding the bbpf facility at bay, and whether they can renegotiate or extend the bnb loan of 381 million.

Surely earnings of 260-280 million (expected for this year) is the lowest they can earn...

I think the sale of either the eastern or western portfolio would change peoples perceptions of this share....if they sell at book or above, there is 1.3 billion in equity still there....but enough to keep the banks at bay??

I hope so, but i think this will track down right until the full year results...looking to enter then...good luck to holders