Hi John,
just to avoid confusions re the US assets ...
Imho there is no meaningful reason to sell their US prospects only
COI regains 5% (of CRR), if Pine Brook Partners invest US$100 million in the prospects (they regain 20% of CRR if Pine Brook invest US$26 million but its not likely that COI is interested in such an outcome)
They made a really good deal to de-risk the prospects and to be free carried in the future for all the assets in question. If they are diluted down to 5%, they are not "required to fund any additional capital spending" (Andy Lydyard, 19-June-2008, corporatefile.com.au interview)
This deal could be "the cherry on the cake" for a takeover bidder.
(on the contrary, I wouldn't be surprised if CRR makes now an offer for VicPet's West Florence areage ...)
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Hi John, just to avoid confusions re the US assets ...Imho there...
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4 | 498000 | 0.155 |
6 | 564801 | 0.150 |
1 | 100000 | 0.145 |
1 | 185000 | 0.140 |
Price($) | Vol. | No. |
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0.170 | 358681 | 5 |
0.175 | 66250 | 2 |
0.180 | 298149 | 6 |
0.185 | 140000 | 3 |
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