Finance conditions often refer to Ebitda to debt ratio. It's a...

Finance conditions often refer to Ebitda to debt ratio. It's a good measure to assess a company's ability to service debt.

The farm ins both dte and igas got go a long way toward paying capex. I haven't had a good look at igas books yet but appears value of uk shale licenses is equally undervalued for igas as for dart. Igas director brought a big packet of igas shares for 1.60 pound after total deal was announced at start of year. Price targets range from 1.70 to over 2 pound in next 12 months.

Aud and nzd both fairly strong still so im happy holding igas shares in pounds incase the commodity currencies crash. If we used historical ave currency conversion deal would look a lot better, 25c au per share or more probably without doing the math.

If you brought or held dart because you believe in uk shale then I don't think you should be too upset with this deal.

Nsw licenses are a worry. Think dart paid over 100m to aquire them. If sold now will not get much. Much prefer to hold until the gas shortage forces policy changes.