I feel as though there is some spec that the results may bring a resource downgrade at SE. I think that explains the selling. IF there is a downgrade, i dont think it will be material, still convert 250PJ of gas, which is a good result. MIR raised a great point about other wells / O&G that are lesser results. Lets not forget, STX are 9/9 now in drilling success - SE has proved continuity. which is a phenomenal result.
I expect once the selling is done and attention turns to a potential (even likely) change to the onshore gas export policy, momentum will change (and thats not far away). A change in policyh as we know will be huge for STX. The value of our gas effectively doubles overnight. So a small downgrade (lets say 10%) is totally outsized by the change in policy and a doubling in value of our uncontracted gas in ground.
If this occurs, then we will get taken out. No doubt in my mind. We are too valuable and too undervalued for someone not to get the ball rolling and this could come very soon.
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17.5¢ |
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Mkt cap ! $501.4M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
37 | 1634397 | 17.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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27 | 1375228 | 0.165 |
31 | 1191293 | 0.160 |
12 | 257459 | 0.155 |
24 | 445780 | 0.150 |
Price($) | Vol. | No. |
---|---|---|
0.175 | 575756 | 6 |
0.180 | 520964 | 8 |
0.185 | 378030 | 5 |
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