NTAV ~40c AUD after dilutionI'm hoping that the PPA will restore...

NTAV ~40c AUD after dilution

I'm hoping that the PPA will restore some value back closer to PE10, so closer to 12-15c, but that could be a pipedream given the confidence destruction over last 10 years. Still, no reason why not, as that is a major milestone. What do the chartists say?

So reading between the lines (with rose coloured glasses):

Gas revenue up, despite power consumption down. So as Indo recovers from COVID and hopefully power demand increases again, this FY (prior to new PPA in Oct 22) will see increasing revenue.

"In terms of the rights issue, most of the major shareholders took up their full entitlement including Clermont.". Hopefully they were not the fund selling most recently, but in any case, there does seem to have been consistent support in that 7.5-7.9c range lately. From who?

AGL (Eromanga/Gilmore): "At the moment we are completing remaining licensing and permitting processes to prepare for a recommencement of activities and works in the 4Q of 2021." Sounds like work has stopped completely. Double speak for a 2022 target commencement still, IMO. As far as PEL96 is concerned, can Talon even do what they are proposing under their existing permits? Nothing on Talon website since the big ann. Nothing there for another 2 years IMO.

Indonesia: They have actually submitted the PPA extension. EMA now involved in discussions. FINALLY, an Indo partner hopefully working with EWC to achieve a mutually beneficial outcome as quickly as possible - as opposed to the alternative (absolutely nothing). So, PPA ann. well before Oct 22. Might I be so bold as to propose Oct 21, so that all parties can go full steam ahead developing Sengkang LNG and accelerate the planning for a PP expansion?

Philippines: I would not be surprised to see even initial commissioning of first stage of Philippines Power blow out to mid to end 2023 unfortunately.

I am hoping that, now that the interim is released and they are still pretty solid on the Indo timelines at least, we will see some detailed research that will answer so many of our questions and give Aesi something really good and meaty to comment on - and raise new questions