Methane giant targets listing

DESPITE eight months of hard work, Dart Energy has deferred the listing of Dart Energy International (DEI) on an international exchange.
The company’s board cited the steady decline in Dart’s share price and poor equity market conditions in its decision that DEI’s listing could not be achieved in the originally targeted time frame.
The company, which aimed to have DEI listed on the Singapore Stock Exchange (SGX) as an independent vehicle, had said that DEI was “initial public offering-ready” for an SGX
listing by the end of the first quarter of 2012, pending regulatory and market conditions.
By the end of June 2012, Dart expects to hold $70 million of cash and liquid assets, and has recently announced a debt facility with HSBC that will provide access to more funding.
According to a recent ASX announcement, in order to address the share price decline and shareholder value creation, Dart will review the allocation of resources within its portfolio of assets, with a focus on achieving production and revenue at key projects.
These assets include: the PEDL 133 project in Airth, Scotland; Liulin at Shaanxi, China; PEL 458 in Newcastle,;Sangatta West and Tanjung Enum, in Indonesia; and coal bed
methane projects in India. Dart stated that in the next 12 months, it would be prudent with cash management and would consider alternative listing venues or corporate level transactions for DEI.
In an announcement, the Dart board stated that it had sufficient funding to meet its operating needs and business objectives during the next year. A number of alternative options have been made available to the company, such as revisiting the Singapore IPO and considering investment and farm-out opportunities.
Dart has reported that it plans to maximise its value through the maturation of existing assets, diversification, innovative commercialisation and monetisation of assets. By 2017, it hopes to be making more than US$200 million in revenue annually.
The company has stated that it will review its decision to defer the DEI listing as market conditions and the Dart share price improve.DESPITE eight months of hard work,
Dart Energy has deferred the listing of Dart Energy International (DEI) on an international exchange.
The company’s board cited the steady decline in Dart’s share price and poor equity market conditions in its decision that DEI’s listing could not be achieved
in the originally targeted time frame. The company, which aimed to have DEI listed on the Singapore Stock Exchange (SGX) as an independent vehicle, had said that DEI was “initial public offering-ready” for an SGX listing by the end of the first quarter of 2012, pending regulatory and market conditions.
By the end of June 2012, Dart expects to hold $70 million of cash and liquid assets, and has recently announced a debt facility with HSBC that will provide access to more funding.
According to a recent ASX announcement, in order to address the share price decline and shareholder value creation, Dart will review the allocation of resources within its portfolio of assets, with a focus on achieving production and revenue at key projects.
These assets include: the PEDL 133 project in Airth, Scotland; Liulin at Shaanxi, China; PEL 458 in Newcastle,;Sangatta West and Tanjung Enum, in Indonesia; and coal bed methane projects in India. Dart stated that in the next 12 months, it would be prudent with cash management and would consider alternative listing venues or corporate
level transactions for DEI.
In an announcement, the Dart board stated that it had sufficient funding to meet its operating needs and business objectives during the next year.
A number of alternative options have been made available to the company, such as revisiting the Singapore IPO and considering investment and farm-out opportunities.
Dart has reported that it plans to maximise its value through the maturation of existing assets, diversification, innovative commercialisation and monetisation of assets. By 2017, it hopes to be making more than US$200 million in revenue annually.
The company has stated that it will review its decision to defer the DEI listing as market conditions and the Dart share price improve.DESPITE eight months of hard work,
Dart Energy has deferred the listing of Dart Energy International (DEI) on an international exchange.
The company’s board cited the steady decline in Dart’s share price and poor equity market conditions in its decision that DEI’s listing could not be achieved in the originally targeted time frame.
The company, which aimed to have DEI listed on the Singapore Stock Exchange (SGX) as an independent vehicle, had said that DEI was “initial public offering-ready” for an SGX listing by the end of the first quarter of 2012, pending regulatory and market conditions.
By the end of June 2012, Dart expects to hold $70 million of cash and liquid assets, and has recently announced a debt facility with HSBC that will provide
access to more funding. According to a recent ASX announcement, in order to address the
share price decline and shareholder value creation, Dart will review the allocation of resources within its portfolio of assets, with a focus on achieving production and revenue at key projects. These assets include: the PEDL 133 project in Airth, Scotland; Liulin at Shaanxi, China; PEL 458 in Newcastle,;Sangatta West and Tanjung Enum, in Indonesia; and coal bed methane projects in India. Dart stated that in the next 12 months, it would be prudent with cash management and would consider alternative listing venues or corporate level transactions for DEI.
In an announcement, the Dart board stated that it had sufficient funding to meet its operating needs and business objectives during the next year.
A number of alternative options have been made available to the company, such as revisiting the Singapore IPO and considering investment and farm-out opportunities.
Dart has reported that it plans to maximise its value throughthe maturation of existing assets, diversification, innovative commercialisation and monetisation of assets. By 2017, it hopes to be making more than US$200 million in revenue annually.
The company has stated that it will review its decision to defer the DEI listing as market conditions and the
Dart share price improve.DESPITE eight months of hard work, Dart Energy has deferred the listing of Dart Energy International (DEI) on an
international exchange.
The company’s board cited the steady decline in Dart’s share price and poor equity market conditions in its decision that DEI’s listing could not be achieved in the originally targeted time frame.
The company, which aimed to have DEI listed on the Singapore Stock Exchange (SGX) as an independent vehicle, had said that DEI was “initial public offering-ready” for an SGX listing by the end of the first quarter of 2012, pending regulatory and market conditions.
By the end of June 2012, Dart expects to hold $70 million of cash and liquid assets, and has recently announced a debt facility with HSBC that will provide
access to more funding. According to a recent ASX announcement, in order to address the share price decline and shareholder value creation, Dart will review the allocation of resources within its portfolio of assets, with a focus on achieving production and revenue at key projects.
These assets include: the PEDL 133 project in Airth, Scotland; Liulin at Shaanxi, China; PEL 458 in Newcastle,;Sangatta West and Tanjung Enum, in Indonesia; and coal bed methane projects in India.
Dart stated that in the next 12 months, it would be prudent with cash management and would consider alternative listing venues or corporate
level transactions for DEI.
In an announcement, the Dart board stated that it had sufficient funding to meet its operating needs and business objectives during the next year. A number of alternative options have been made available to the company, such as revisiting the Singapore IPO and considering investment and farm-out opportunities.
Dart has reported that it plans to maximise its value through the maturation of existing assets, diversification, innovative commercialisation and monetisation of assets. By 2017, it hopes to be making more than US$200 million in revenue annually.
The company has stated that it will review its decision to defer the DEI listing as market conditions and the Dart share price improve.

 

By Courtney Pearson

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