Daily Brief Energy/Materials: Hanwha Corporation, Empire Energy and more

In today’s briefing:

Korea’s Dem Leader: PBR Under 0.3x Should Be Hostile M&A Targets – Names That Could Feel the Heat
Empire Energy Group Ltd – The science says potential water impacts likely minor

Korea’s Dem Leader: PBR Under 0.3x Should Be Hostile M&A Targets – Names That Could Feel the Heat

During the public hearing, Lee Jae-myung asked Simpac’s CFO about their 0.3x PBR, then remarked, “That’s prime territory for a hostile M&A.”
With PBRs under 0.3x, these companies may roll out shareholder returns to manage political pressure—definitely worth tracking from a value-up trading perspective.
Hanwha is interesting due to its room for shareholder returns and potential merger with Hanwha Energy. With the new Commercial Act, a public tender offer is likely. Worth watching closely.

RaaS has published a flash comment on NT-focused gas explorer/producer Empire Energy Group (ASX:EEG) following the recently released findings of the Independent Expert Scientific Committee (IESC) on unconventional gas in the Beetaloo which has assessed the potential environmental impact and risk on water resources to be ‘minor’ if appropriate mitigation strategies are implemented.
The article published on the NT News website, also references comments from the Federal Department of Climate Change, Energy, Environment and Water (DCEEW) which concluded that exploration work (to date) did not meet the legal threshold of being a matter of national environmental significance to be assessed under national environmental law.
In our view, these findings from both assessments are positive for operators with respect to current gas development plans and potential future phases of gas expansion.

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