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
$6.85 |
Change
-0.070(1.01%) |
Mkt cap ! $22.24B |
Open | High | Low | Value | Volume |
$6.83 | $6.89 | $6.80 | $49.90M | 7.300M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 35114 | $6.84 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.86 | 11500 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 33692 | 6.840 |
5 | 54084 | 6.830 |
8 | 91381 | 6.820 |
13 | 179903 | 6.810 |
37 | 111878 | 6.800 |
Price($) | Vol. | No. |
---|---|---|
6.860 | 11500 | 1 |
6.870 | 3301 | 2 |
6.880 | 39364 | 2 |
6.890 | 38614 | 1 |
6.900 | 38776 | 2 |
Last trade - 16.10pm 11/09/2024 (20 minute delay) ? |
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