Would be interesting to see if KOGAS attributed interest directly to the GLNG project. In 2016 STO had EITDAX of 183m for GLNG, with depreciation and depletion of 192m and a royalty expense of 3m - giving a net loss before write downs of 12m. However, it did not include finance costs - with 281m of costs being attributed to the corporate ledger.
If STO results match KOGAS then they are looking at around 48m profit this year. The question is whether the KOGAS figure includes finance costs. I have a feeling that they would include these cots - and if so, STO is looking very, very healthy. Perhaps 100-200m healthy on the GLNG front....
A good sign, page-4
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$6.82 |
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Mkt cap ! $23.02B | |||
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|---|---|---|
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