From my reading its now a race between management cutting the debt via sales & prospective buyers like sceptre who want to take over the lot and flog off for profit the bits they don't want.
If management wins the race - we'll see around 2 bil knocked off the debt which will see any chance of an S&P downgrade muted for the foreseeable future - once the debt is not an issue then the sp re-rates as the market then focuses on what Santos has and what the future will hold in regards revenue - the big scare wasn't so much the poo as it was the debt but the lower poo made servicing the debt harder..and the threat of a future downgrade like what happened to Origin who felt compelled to CR at a low point..
My money is on STO management winning this battle - they only need to shave something around $1.5-2 bil off the debt and projected revenues will take care of the rest going forward. If they keep say 10% of the png lng that's good - if they keep all of their glng operation that's good - if they sell off Asia and WA & some of png lng then they might raise $2bil to $3bil the market will like it especially 3 bil and they won't need to do a CR so that threat would be gone as well and it will re-rate then the likes of sceptre will be looking at a Santos SP of well North of $7 and that will mean they will need to offer even more to make it attractive.
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Last
$7.23 |
Change
0.040(0.56%) |
Mkt cap ! $23.48B |
Open | High | Low | Value | Volume |
$7.25 | $7.28 | $7.20 | $45.98M | 6.353M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 10011 | $7.22 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$7.23 | 15000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 6925 | 7.220 |
1 | 10000 | 7.210 |
11 | 26784 | 7.200 |
4 | 7565 | 7.190 |
1 | 500 | 7.180 |
Price($) | Vol. | No. |
---|---|---|
7.260 | 2843 | 1 |
7.270 | 4834 | 3 |
7.280 | 16369 | 5 |
7.290 | 2000 | 1 |
7.300 | 78329 | 9 |
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