PEA - Pacific Energy

[Joe Blow]

Pacific Energy Limited (PEA) is an investor in power generation, infrastructure and mineral projects, either in operation or development. PEA holds interests in a number of companies with projects in Australia and the US.

http://www.pacificenergy.com.au

 

[absolute1]

found an article in the AFR (2nd Dec) key points below

a strong outlook for commodities is likely to lead to increased demand for remote power solutions and southern cross equities estimates about 1000MW of project opporunities over the next 24-30 months

Pea is trading on a price earnings of under 6 times based on brokers 2010-2011earnings estimates and is foecast to start paying dividends of 2.1 cents in 2011-12 which is 7.9% yield

 

[springhill]

I am not really across PEA, but they went into trading halt today regarding a new electricity supply contract win.
http://www.asx.com.au/asxpdf/20120620/pdf/426xxmjc49mxl3.pdf

On 29th Feb an announcement was made regarding record earnings from Kalgoorlie Power Systems business.
http://www.asx.com.au/asxpdf/20120229/pdf/424ps91djpz08k.pdf
Highlights
● $10.6M EBITDA1 - up 19 per cent on corresponding six-month period
● $5M Adjusted NPAT2 - up 26 per cent on corresponding six-month period
● 10MW of new power station capacity commissioned
● 36MW of new power station capacity to be commissioned between July and September 2012
● 13MW of new power station contracts secured since 1 July 2011
● On track to deliver “250MW by 2012” growth strategy
● Outlook: EBITDA guidance maintained at $23M

According to the half yearly PEA is in very healthy shape with Revenue and Profits both up for the corresponding period of the previous year.
http://www.asx.com.au/asxpdf/20120229/pdf/424ps41zqljvqv.pdf

 

[springhill]

PEA announces new contract win.
http://www.asx.com.au/asxpdf/20120621/pdf/426yq9g0193g8n.pdf

Highlights
● Pacific Energy wins the contract to build, own and maintain a 44MW Power
Station at the Tropicana Gold Project in Western Australia
● Largest new contract win since Pacific Energy acquired Kalgoorlie Power
Systems (KPS)
● Contract term of 15 years commencing May 2013
● KPS contracted capacity now exceeds 235MW reflecting growth from 98MW
to 235MW in three years
● Solid momentum of new contract wins - Pacific Energy on track to deliver
“250MW by 2012” growth strategy

 

[springhill]

PEA has released a June 2012 investor presentation.
http://www.asx.com.au/asxpdf/20120625/pdf/4270qtbb6yqvcb.pdf

Key elements as i see it.
ASX Code PEA
12 month high $0.525
12 month low $0.330
Current share price $0.46
Shares outstanding 355.6m
Market capitalisation $163.6m
Cash $5.7m
Debt $28.8m
Enterprise value $186.7m


Executive director Ken Hall holds 51%

 FY2012 record result – Forecast $32M Revenue, $22M EBITDA, up 13% & 22% respectively
 Advancing construction of 35MW new power station capacity to be completed between July and November 2012 - significant impact on FY2013 earnings


 Secured 77MW of new power station contracts during FY2012
 Tenders /Indicative Proposals submitted >300MW

 Organic growth – WA and Africa focus (700MW market opportunity < 24 months)
 Acquisition opportunities – businesses to deliver accretive shareholder value, expanded power station capacity and related services

 Dual Fuel – gas and diesel fuel flexibility providing clients with lowest cost fuel option available

 

[springhill]

PACIFIC ENERGY DELIVERS ON 250MW EXPANSION STRATEGY

NEW 8MW CONTRACT WITH GOLD MINER REED RESOURCES

Highlights
● Pacific Energy wins contract to build, own and maintain an 8MW Power Station at the Meekatharra Gold Project in Western Australia
● Pacific Energy group “250MW by 2012” growth strategy achieved
● Contract term of 19 months with potential term extension commencing December 2012
● KPS contracted capacity has reached 244MW reflecting growth from 98MW to 244MW in three years

Pacific Energy Limited today announced that its wholly owned KPS business has signed a new electricity supply
contract with Reed Resources Limited subsidiary, GMK Exploration Pty Limited. KPS will build, own and maintain the 8MW Meekatharra Gold Project power station located 10 kms south of Meekatharra, Western Australia. The contract has a term of nineteen months, commencing December 2012 and provides for further term extensions.

The 8MW Meekatharra Gold Project power station continues the momentum of recent contract wins secured by KPS, including:
• 44MW Tropicana power station for AngloGold Ashanti Australia Limited;
• 12MW Garden Well power station for Regis Resources Limited; and
• 20MW DeGrussa power station for Sandfire Resources Limited.

Pacific Energy continues to progress a range of new opportunities and is actively negotiating new electricity supply arrangements with significant resource companies.

 

[System]

On December 3rd, 2019, Pacific Energy Limited (PEA) was removed from the ASX's Official List in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement between PEA and its shareholders in connection with the acquisition of all the issued capital in PEA by QGIF Swan Bidco Pty Ltd.