From my reading its now a race between management cutting the debt via sales & prospective buyers like sceptre who want to take over the lot and flog off for profit the bits they don't want.
If management wins the race - we'll see around 2 bil knocked off the debt which will see any chance of an S&P downgrade muted for the foreseeable future - once the debt is not an issue then the sp re-rates as the market then focuses on what Santos has and what the future will hold in regards revenue - the big scare wasn't so much the poo as it was the debt but the lower poo made servicing the debt harder..and the threat of a future downgrade like what happened to Origin who felt compelled to CR at a low point..
My money is on STO management winning this battle - they only need to shave something around $1.5-2 bil off the debt and projected revenues will take care of the rest going forward. If they keep say 10% of the png lng that's good - if they keep all of their glng operation that's good - if they sell off Asia and WA & some of png lng then they might raise $2bil to $3bil the market will like it especially 3 bil and they won't need to do a CR so that threat would be gone as well and it will re-rate then the likes of sceptre will be looking at a Santos SP of well North of $7 and that will mean they will need to offer even more to make it attractive.
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Last
$7.47 |
Change
-0.390(4.96%) |
Mkt cap ! $24.26B |
Open | High | Low | Value | Volume |
$7.66 | $7.66 | $7.45 | $67.51M | 8.973M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 3144 | $7.47 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$7.48 | 18958 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 233 | 7.470 |
3 | 6300 | 7.460 |
12 | 54792 | 7.450 |
4 | 9082 | 7.440 |
5 | 15750 | 7.430 |
Price($) | Vol. | No. |
---|---|---|
7.480 | 18958 | 2 |
7.490 | 3031 | 2 |
7.500 | 3006 | 3 |
7.510 | 19331 | 1 |
7.520 | 19931 | 2 |
Last trade - 16.10pm 05/08/2024 (20 minute delay) ? |
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