Your last paragraph says it all. When I hear the words strategic review, it means we're in the doldrums till we get our act together.
I think maybe the whole board needs to be tipped out? as they've been asleep at the wheel. Who doesn't lock in a floor price in their contracts and goes ahead and approves billions of dollars of expenditure for Capex???
Serious miscalculation. I've been in and out of this company at much higher prices and it's a sad day for all Australians when such an iconic company has been allowed to get to this point through mismanagement.
The article on the amount of shorting by instos says it all, they don't rate the board at all. STO under $5 in 2015, I never would have imagined it.
I hope these guys get their heads out of the sand and a few of the upper echelon fall on their swords and they bring in some competent high end smoking guns to get this show back on track.
More asset sales look likely in the current space and from what I hear morale in head office is abysmal.
I hope this changes soon otherwise some opportunistic bids will be forthcoming from Private Equity of some international oil companies.
Best of luck to all and may GLNG get some $$ flowing in sooner than later to absorb some of the miscalculations that this company has made in recent times.
STO Price at posting:
$4.43 Sentiment: Buy Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)