Its the walking dead on these threads - a wasteland of individuals with various motives.
Santos got smashed today - pure and simple - its as a result of the opec decision and fear as to the poo..
The company just completed a CR and raised cash and is cutting debt - if they need to flog something off then lucky for them they have enough to flog off - someone today posted that Santos can only make money above $83 US a barrel?? where did that come from?
The problem is you get these hysterical reports that because the WTI POO dropped below $40 then thats it for comapnies like Santos but there are 2 different issues with those types of seriously misleading comments:
1. STO does NOT trade in WTI (which is currently below $40USD) Aussie oilers trade in BRENT which is currently - $41 - it has not gone below $40USD....
2. STO will not be selling its full year production at $41USD a barrel in fact it won't even be selling a quarter of the years production at $41 USD a barrel....
3. Australian oilers have a buffer from the US dollar so even that $41USD actually means $56.49 AUD per barrel...
The problem is these headless chooks are trying to say the poo will stay around $40 or lower AND STAY LOWER till the end of time....
No Rationality In these Markets, page-11
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Last
$7.37 |
Change
-0.070(0.94%) |
Mkt cap ! $23.93B | |||
| Open | High | Low | Value | Volume |
| $7.45 | $7.49 | $7.37 | $73.51M | 9.917M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 51006 | $7.37 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.39 | 11000 | 2 |
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| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| STO (ASX) Chart |