$4.50 By End of September, page-13

Extract from the fin rev just now -
Oil Search, Cooper Energy, Senex Energy and Carnarvon Petroleum could all become takeover targets as a gulf opens up between robust oil and gas prices and the sickly shares prices of producers, JPMorgan analyst Mark Busuttil says.The marked disconnect between the prices commanded by the producers and their underlying commodities could prompt a wave of M&A activity in a sector where many investors are running scared on environmental, social and governance (ESG) grounds.The theory is gaining traction in Australia as analysts and investors grapple with the under-performance of domestic oil and gas stocks compared to oil and gas prices and their US and European peers.The three largest ASX-listed producers, Woodside, Santos and Oil Search, have all lagged the Brent crude oil price, which rose to more than $US77 a barrel overnight - for the first time since 2018 - after the OPEC+ cartel failed to agree on lifting production. LNG prices late last week rose to their highest for this season since 2013,