It's a meaningless question without an analysis of the probability of oil remaining low so long.
You could make the same argument about any business at any time, if the cost of what they sell remains below the cost of production for 5 years many strongly entrenched companies could be deemed worthless. Similarly a recession is always a risk.
If that's the extent of your argument, when I am talking about the economics of supply and demand I am really happy to hold and keen to buy more. You haven't argued against my case for buying at all.
That's great that so many are fearful, doesn't bother me. This is normal for me - no-one ever agrees. A very bullish sign.
Ann: Second Quarter Activities Report-STO.AX, page-35
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Last
$7.81 |
Change
0.140(1.83%) |
Mkt cap ! $25.36B | |||
| Open | High | Low | Value | Volume |
| $7.80 | $7.82 | $7.76 | $53.77M | 6.831M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 43486 | $7.77 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.81 | 39967 | 2 |
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| STO (ASX) Chart |