Macquarie downgraded STX target price by 16% (48c) and Euroz by 6.5% (58c) off the back of SE3 as it seems the Kingia pay zone is not as thick as expected as it heads west meaning possible volume downgrade (from expectations) and STX may not get the uplift to 2P that was hoped for. Together with weak energy markets has seen STX coming off by approx the Macquarie downgrade % .... so wonder if they are supplying some of the market volume? Still enough to get FID over the line for SE, so we have that to look forward to, then possible export changes, flow rates and onto next drills. Next drills could be meaningful, but they're a way off, so possibility of shenanigans before we get the opportunity to prove those up? Not sure if TPD SOA getting over the line will add or detract value.
STX looks vulnerable in the next 6 months to be taken out at the 60c - 80c level. If they get the next drills done successfully it could be $1+
Interesting times.
Macquarie downgraded STX target price by 16% (48c) and Euroz by...
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Last
23.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $658.3M | |||
| Open | High | Low | Value | Volume |
| 23.0¢ | 23.3¢ | 22.5¢ | $1.247M | 5.442M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 96643 | 22.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 23.0¢ | 463740 | 6 |
View Market Depth
| Last trade - 16.10pm 02/05/2024 (20 minute delay) ? |
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Last
22.8¢ |
Change
0.000 ( 1.09 %) |
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| Open | High | Low | Volume | ||
| 23.0¢ | 23.0¢ | 22.5¢ | 1287300 | ||
| Last updated 15.59pm 02/05/2024 ? | |||||
| STX (ASX) Chart |