wpl to sell down browse stake., page-2

Madrum,

I just read the same article, but I am not sure what it actually means.

Does it mean that WPL is selling down it's 50% Browse gas holding to say 25%. If so, that would give them a small income boost and significantly reduced capital expenditure on Browse.

But I do not see how the Browse sell down allows "advancement of the future Pluto plant expansion". Browse is already delayed and Pluto 2 does not have enough gas. Can you help me out here pls.

I agree on piping Browse to NWS, although only marginally cheaper than Browse - the risk is much lower.

I am still reflecting on whether it is beneficial for WPL in the short to medium term. This action is one of those classic "we have to trust that management know what they are doing and are doing this for the benefit of the company overall." I would suspect that long term cash flow and capex expenditure has shown that they have either one or multiple squeeze points, and so are derisking the balance sheet now, rather than waiting to have to do it when it is forced on them.

HT1