1. The timing of it all, 4 days at the most from a hello to a good bye? 2. The take it now or leave it approach. Did they really think that AWE would just accept their terms immediately? 3. What company am I now invested in? A Cooper Player that has big potential but more importantly a great takeover target increasing reserves with each drill. Or a small player with big dreams and bigger egos that wants to move out of the basin and grow. 4. Im here for the takeover play that keeps increasing! 5. Will the next play they make require cash!? 6. Will they raise money??? 7. Have they just made a future takeover price for SXY cheaper?
Im sitting here just gobsmacked at this move and can only assume that they rushed this as to sure themselves up from a coming takeover play but even when I type this theory I think to myself that surely they are not that naive and they couldn't put a risk such a move purely from the shareholders point of view.
In my opinion this has given a massive opportunity to the shorters and technical traders who will now come in a punish the share price. After such good year and an excellent performance with both the share price and exploration success why would they pull this crap 2 weeks before the end of the year!!!
SXY is now sitting in no mans land, is it a Cooper Oil play, Company expansion play, cash constrain, I know SXY has a lot of cash but not if its going to start playing the offshore game!
SXY will need to clarify their strategy or else we as the shareholders will suffer the share price pain.
SXY Price at posting:
71.0¢ Sentiment: None Disclosure: Held
