Hi R,
Santos is an extremely large company that just acquired a good chunk of an LNG in PNG. They have to review their debt levels, especially with rising interest rates. It makes good economic sense to sell down at least some equity to rebalance the company going forward. The equity sell off in Dorado would depend upon the price some other company is prepared to offer. It is more likely they would sell 20-30%, rather than the 80%. However, big fish can always provide a surprise in the market place.
News: CVN Carnarvon Energy Will Issue 234.8 Million New Shares At A$0.30 Per Share, page-48
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Mkt cap ! $272.8M | |||
| Open | High | Low | Value | Volume |
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| Price($) | Vol. | No. |
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