Thanks Auto well put. Astonishingly, I managed to pick up 50,000 at 13.75, 400,000 at 14 and another 150,000 at 14.5.
Maybe we can forgive them.. Analysts, brokers, wholesale investors working from home on a Friday were too busy doing home chores to work out the value creation from the Mahalo East reserves upgrade yesterday lol.
Value creation at the 100%-owned tenements is what we have been desperate for and by all means this upgrade of 2P and 3P numbers delivers this.
I have this gut feeling that if ADNOC takes out STO comet will fly quickly to 20c+. Conversely, if STO moves forward without being taken over I feel they will execute some sort of corporate action with COI soon.
The 100% owned tenements have now banked reserves and we can progress these as COI in our own right.. as we’ve said in the past this type of news will force an acquirer’s hand, be it Beach, Santos or ADNOC or Hancock (Rinehart).. we shall see
COI Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
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