trading halt, page-12

great post Tui and yes the pipeline versus trucking must be cheaper by the proverbial mile. I recall hearing a while back that Stuart Pet. [now part of SXY] had been trucking at least one tanker load of oil a week by road for a year all the way to Shell refinery at Corio, Geelong, from CB until this latest summer flooding of the q'ld channel country found its way downstream to flood the roads around Moomba in early autumn making even that impossible.
Rabbi, I wonder if the need for a TH revolves around many factors, not least of which was the overseas markets' fall overnight and SXY sp was about to go sub 40c looking at the bids/offers this morning; so to be in a TH all day was a good move.
Plus from the TH request this morning we have this sentence
"and it [sxy] is in confidential discussions with another party about a potential capital raising transaction."
So sxy is in fact still in discussion re BOTH these issues:
1/ the cap' raising with another party, and
2/ with the SA Cooper Basin JV partners, STO BPT and ORG regarding an agreement about the connection of the new SXY/BPT pipeline to the Moomba Plant.
So a TH was definitely required.
Tui I agree that a bank is most likely the "other party" regarding a "potential capital raising transaction" but I can't help but notice BOTH Santos and Origin are still in discussion with us at present?
I seem to recall BPT negotiating a large credit drawdown facility with its banker recently and the way COE sp held up today [all week] was unusual to say the least.
I'll leave it to you to connect the two.