True it might be going for peanuts. We can talk all we want about it being an under valued offer, but the bottom line is there appears to be no other company interested at this stage. SXY may join the long list of Australian oil/gas companies sold to foreign interests ( in this case plus Gina) for a song, AWE, ROC ect,ect This is due to the ASX failing to give fair value to companies in this sector.
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