My view is that STX is undervalued based on reserves and resources.
The Macquarie analyst view on ED, SE and future exploration valuations is light on.
However my view is that STX balance sheet, cash held and debt facilities leaves little room for error in Walyering cash flows. I hope all goes well and a capital raising is not required. Based on reserves I understand why at this stage MCQ would limit Walyering sales.
I know that STX has been supplying gas to Santos from October 2023. My interpretation of firm was that the commitment for 36.5 PJ was from Oct 24. This could be wrong and I hope STX clarify in the quarterly or sooner.
I have learnt that sometimes you have to read through the lines on company reporting as they do not always make it clear.
STX Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
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