At the time I neither liked his style in general, nor specifically the way he played with the facts. Mind you, I daren't consider what would have happened had he not sold it off, so perhaps we should forgive him a little, He was probably in a hugely unenviable thankless position. The good thing here in case he's as bad as we painted him is that he had a boss in Brisbane, and it's only a subsidiary. Intriguing the entry of more ex BP people, with the operational side looking closer to Shell. From my experiences BP people generally detest Shell.
AOE had always talked of floating AOEI in order to fund it externally from the australian operations, ie they don't want to inject serious amounts of our money into it.
As for the LNG, well they've always been pretty smart with funding in the past, but pretty careless talk to DJnewswire today. I'd have thought they'd be looking at something like 50% debt, and perhaps refinancing their power station. With Shell cash of USD133mm on FID, $280mm at 31 Dec and some cashflow from operations I am not too sure how much they'd need? Better get the sp back up before a placement to insto's. Prefer RRI.
What a day, my top 4 clobbered again.
EL
AOE Price at posting:
$3.55 Sentiment: LT Buy Disclosure: Held
