British Energy Update

Sorry folks.....been away working for a living!
Can't rely on trading as I appear to be a poor judge/stupid/unlucky..take your pick.

Was it not revealed that the overall price paid for Bruce was about as valued, i.e. just short of Can$1 billion. BE got Can $750m plus a one off Can$100m lumpsum in costs and the buyers paid another Can$100m in various fees. The total just short of the valuation.

The sale of Amergen is yet to be announced.

Hey, these debts are not insurmountable. There are other corporations trading with much more debt and a less secure market and BE's debt level is within borrowing capacity providing the product pricing structure is revamped. What cannot go on is continued trading at an ever growing loss. Owston has detailed this thoroughly. Whether it remains private or returns to public ownership is not the point.....its bleeding to death!

My feeling is that it will remain private, Bondholders will accept....there will be a deal done regarding long term debt service as a central sweetener. This will need EU rubber stamping.

We will not lose all...the price will find its level only when the pricing structure is sorted.

We are heading towards potential world war... gas and oil supplies are the main headache. Nuclear generated supply security will not be allowed to take a dodgy centre stage.

IMVHO..of course!

Cheer up punters....the price is still stable at SFA! I'm too old to be called up....and have selective memory on the controls of Heli GunShip!!