Apologies for my vague and slightly facetious comment and for categorising your opinion as naïve as you obviously have experience on the O&G sector. I had a rough morning.
'Soon' I define as in a timeframe of between 3 and 6 months. The price could dip down to below where I have bought also in this timeframe - I have no definite idea where the general market or the price of oil is going.
It is pure speculation on my behalf. I thought the result was fair and management commentary provided some comfort as to the future capex profile and the solutions to their current 'over stretched' balance sheet. I am relying somewhat on various reports I have read on the business also that break up value is worth in the $7 to $9 range per share based on a future price of oil in the $50 to $60 range.
If it does hit my $6 target then I would reconsider my speculative position. Also in the interests of disclosure I have no stop losses in place (will reassess if it gets down to $4) and my position is not debt funded.
Apologies for my vague and slightly facetious comment and for...
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Last
$7.62 |
Change
0.160(2.14%) |
Mkt cap ! $24.74B | |||
| Open | High | Low | Value | Volume |
| $7.50 | $7.62 | $7.48 | $139.7M | 18.17M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 264300 | $7.62 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.63 | 118462 | 13 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| STO (ASX) Chart |