I wonder when the cutoff for buying PTS to get Eastern Iron priority allocation will be.
Could be a little irrational sell off of PTS after that date (which would be a great buying opportunity since there would still be significant leverage to EI performance).
PTS gives just about as much exposure to EI as if you were buying EI directly...ie 45% of EI will be held by PTS (plus options) and 20% interest in the EI projects as well. On top of that they of course have their substantial interest in WPG as well as a bundle of JVs.
Regardless of this I will be acquiring as many EI as possible rather than more PTS (unless of course PTS get sold down to an even more ridiculous SP than it is at now).
Cdchi1
PTS Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
