Analyst Research Report Snapshot

Title:

OXFORD CATALYSTS GROUP - PLACING AT A 44% PREMIUM

Price:

$10.00

Provider:

Edison Investment Research

Date:

20 Nov 2012

Pages:

4

Type:

AcrobatPDF

Companies referenced:

OCG.L

Available for Immediate Download
Summary:

We have previously highlighted a gap in perceived value between the market and industry of Oxford Catalysts’ (OCG) technology and its potential. This morning’s announcement that Ventech, an established EPC contractor in the GTL industry is buying a 1% stake in the company at a 44% premium to the 16 November closing price is significant for a number of reasons: (1) It highlights the value industry sees in the group and is a strong endorsement of the technology and commercial opportunity, (2) it accelerates commercial development with Ventech committing to a $8m order for a c.1,500 bopd plant in March 2013 that kick starts the manufacturing supply chain, (3) it creates a clear channel to market through establishing a referral partner, with OCG being Ventech’s preferred supplier of Fischer Tropsch (FT) technology in North America, (4) the availability of the $200m equity finance Ventech is providing for future GTL projects derisks projects for potential customers and an extremely powerful business development differentiator and (5) it creates a first mover advantage further derisking projects for future customers and potentially makes such projects open to debt funding.

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