Ian Davies, CEO
"Prior to joining Senex, Ian was influential in the growth of the CSG-to-LNG industry in Queensland as Queensland Gas Company’s (QGC) Chief Financial Officer. Ian led the negotiation of the LNG joint venture transaction with BG Group and the takeover offer for QGC by BG Group – the largest on-market takeover in Australian corporate history at the time."
Graham Yerbury
"Graham was previously CFO at Macarthur Coal Limited, Site Group International, and coal seam gas producer Arrow Energy"
We have a CEO who led the largest takeover in Australia in its time, and a CFO that was part of Arrow Energy (a 10 x bagger).
I don't normally endorse management, but this team obviously understand what drives value to shareholders (and to prospective acquirers). Their resume alone adds value to SXY.
As mentioned, non-core assets obviously constitute the areas in which we have abandoned wells. These abandoned wells were previously disclosed to the market and it should already be factored into the share price. The fact that SXY have decided to write-off abandoned wells shouldn't really come as a surprise, and this is just the accounting side to this.
I would rather SXY try divest these areas and deploy the capital into the higher yielding Projects.
Providing the flow rates are good (as they should be for SXY to want to materially increase production as announced today), we have just the team that is capable of delivering us a 10x bagger. They just need to do what they've already done before.
SXY Price at posting:
36.0¢ Sentiment: Buy Disclosure: Held
