The valuation at 820mil is still at a full takeover price with multiple players in the ring scenario if they are only valuing 2P gas, so I'm purely guessing it probably would get cheaper from here on a bad SE2 flow result.
As well I Dont' think other parties would want to pay much more than the 830mil premium (same as WGO) if indeed SE2 doesn't' come through so if the market does something silly and price STX at 500-600mil that's when I'll back up the truck.
Still think its a 50/50 punt from here (which I could never imagine after all these years and wells they have drilled) with the downside being worse 21c ? than the upside 36-38c ? dependant on the SE2 flow result hence the late selloff on Friday.
Bottom of the Barrel Valuation, page-2
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Last
22.0¢ |
Change
-0.005(2.22%) |
Mkt cap ! $623.2M | |||
| Open | High | Low | Value | Volume |
| 22.0¢ | 22.5¢ | 21.8¢ | $481.0K | 2.185M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 48 | 957891 | 21.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 22.0¢ | 823048 | 24 |
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| Last trade - 12.02pm 03/10/2024 (20 minute delay) ? |
| STX (ASX) Chart |