Hypothetically, I expect we may see a spin off if certain conditions are met eg: positive outlook for say O&G (including shale) assets. Prior to doing so they would have to have success of some description. Additionally one could expect UCG to be up and running at that time as well.
If or when all conditions are met, hypothetically IMO a holder may expect a 1-1 split. After all I doubt PB is going to cut his own throat in percentage holdings.
At that time the SP may settle in each to whatever the market value's it at taking into account projects underway, upcoming projects and of course each future companies fiscal situation.
I'd speculate hypothetically should ever such occur, we may see only one split. O&G and UCG with coal lumped into UCG side.
Another thought is that if UCG takes off and O&G is paying the bills, with Arckaringa still in exploration, then this may also be a good time for a split.
All in all, pretty hard to do a hypothetical without more data. About the only thing I'm confident of is that PB won't screw himself (shareholder wise) in whatever occurs.
LNC Price at posting:
$2.06 Sentiment: Buy Disclosure: Held
