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Originally posted by Homerun78:
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JL, Magnolia and Bear Head are 2 different animals. Magnolia was pre developed by LNGL and Bear was instead acquired in its fully permitted condition from Anadarko after which started collecting dust on the shelf due to lack of attention with a one or two lines about it appearing in Managament reports. Sum of parts of both of these projects combined would not work since the strategic value of Magnolia and Bear differs and when i say differ am not implying one is more valuable than the other. Hence going back to the question, i will emphasise even with Magnolia out of the picture, Bear Head remains attractive on its own. There are many angles on how Bear can be ressurected in fact we shouldnt use that word ressurected as Bear is very much alive. It was rather unfortunate that the LNGL management was paying very little attention to Bear and completely downplayed its significance since the LNGL management was only interested in using Magnolia to showcase LNGL. Given we are discussing this in public hence due to my own confidentiality i will refrain from outlining on whats the best strategy to deploy for Bear with the exception that one shouldnt be too concerned about the access of natural gas supply for Bear. Bear actually has the best of US and Canada put together. The crux of it remains in the commercial configuration of Bear which for me is completely visible and couple with the the potential of optimising value of Bear it has the potential of becoming significantly strategic for the Atlantic trade all year long and potentially Asia during summer months.
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Thank you, Homerun78. There is a lot to digest here. A quick first read would seems that your research suggests that the absence of Magnolia will have no adverse effect on any negotiations the Administrators might have in deciding Bear's future. I would like to know what PWC is thinking at the moment and what 'limited information' they are prepared to share with us. J L.
