Ecofin Water&powr Opportunities Share Discussion Threads

[zcaprd7] 20/5/2014 23:49

Hmm, who are these guys doubling their holding?

[zcaprd7] 15/5/2014 12:53

New high...

[zcaprd7] 08/5/2014 02:15

Latest lonestar news:

hxxp://static.squarespace.com/static/53552f31e4b09050c80f5f0c/t/536955d6e4b07a50f576d5cf/1399412182003/LRAI%20Quarterly%20Report-%20March%202014.pdf

Numbers going in the right direction...

[zcaprd7] 08/5/2014 02:05

Seems they issued 55m shares. But can't find any details?

[zcaprd7] 08/5/2014 01:59

Back down to 189p Nav. Lonestar took a hit today, any news?

[edwardt] 07/4/2014 16:42

i personally think the culs offer good value. the near certainty of return of capital. the potential of conversion is not too unlikely. in short it has a rising delta to the share price but pricing is not reflecting that.

[jonwig] 04/4/2014 19:33

hpcg - It looks as though there's decent liquidity in the CULS (see chart in header: around 105.5 offer so running yield of 5.7% and GRY of 3.5%.)

Expensive at first sight, but held up by the possibility.

[zcaprd7] 04/4/2014 13:27

Harsh drop?

[hpcg] 04/4/2014 11:14

jonwig - I modelled assorted conversion scenarios as to what it meant for common holders, and even whether it was attractive to buy the debt instead. the interesting ones were what would happen if a converted share was at a discount to NAV, but the share price was lower than the conversion price, quite a possibility. What does game theory say to do? I don't know the answer, probably not convert, which is fantastic for holders of the common. So my conclusions were:

1. Don't buy the CULS.
2. Don't worry about conversions because any scenario which involves a large number of conversion automatically means I'd have done very well.

It does mean substantial resistance to get through the conversion price, but once again, I can live with that just fine as I'll have made a substantial capital appreciation for something I'd have been happy with just the income.

[jonwig] 04/4/2014 10:56

Conversion of the CULS can take place up to 31 July 2016 at a price of about 173p, so there's a real possibility of this happening. (Of course, some holders may forget or not bother.)

[jonwig] 04/4/2014 10:37

Sorry - post had an error - will correct it.

[zcaprd7] 04/4/2014 00:22

20m extra tagged on top. Takes pressure off ecofin to pour any more cash in...

[zcaprd7] 03/4/2014 18:55

Lonestar Resources climbed 6.7 per cent to $0.32, its highest since June 2009, on solid demand for its offering of $220 million senior unsecured notes to US-based institutional investors.Read more: 

[edwardt] 03/4/2014 17:57

hwm relates to where the manager can now claim performance fees...

[zcaprd7] 03/4/2014 17:08

Hwm? Nav 190p now...

[edwardt] 03/4/2014 15:33

oh and near the hwm

[edwardt] 03/4/2014 08:40

looks like a nyse float for lonestar and debt raise to extend drillling - evidently been supported by us institutions. we are in a sweet spot here.

[hpcg] 02/4/2014 18:42

There is a bit of sector rotation going on as well, share price utilities has lagged the SP500 and is now outperforming.

[zcaprd7] 02/4/2014 16:43

Nav has been behind for years! I've been patiently waiting since the 3 year low for a rerating for ages. Of course divis helped...

[hpcg] 02/4/2014 15:33

See previous posts. NAV is doing very nicely and share price is way behind.

[zcaprd7] 02/4/2014 15:31

No news? But seems to have broken to the upside...

[jonwig] 02/4/2014 14:29

Yes, AUD 30, a new high: