As far as debt is concerned, it may be worth remembering that EWC actually built assets with this debt, resulting in NTA of 48.5 cents (Australian). While, at this point in time, the three most promising assets (sengkang lng, Philippines lng hub and power plant) are not income producing, it is worth keeping in mind that, according to EWC’s own figures 0.5mtpa lng (at a price of US$6/mmBtu), will yield an EBITDA of US$75million or about A$45million profit. By the way, I understand that Indonesia has set a lng price of US$6/mmBu.
The following are figures re: selected stock market indices. The first number relates to YTD and the second reflects a 1 year performance:
Dax: 5% and 35% (Dax reached its 52 week High on 9 March 2021)
Nikkei: 6% and 46% (Nikkei reached its 52 week High on 16 Feb 2021
DJI: 4% and 37% (DJI reached its 52 week High on 9 March 2021)
ASX 200: 2.5% and 14% (ASX 200 reached its 52 week High o 17 Feb 2021)
Hardly a weak share market during the past year and/or the past 2 months, with these 4 indices reaching their 52 week highs either mid February or early March 2021.
Be that as it may, this year could well be the time when we will have very clear understanding as to when these projects (incl. Eromanga gas field) will commence commercial operations I look forward to a time when EWC’s facts speak loud and clear.
