Ann: Senex kicks off its12 well unconventional ga, page-17

re: Ann: Senex kicks off its12 well unconvent... Speculator,
Thanks for that post and also the reference to BPT's preso.
SXY certainly has fallen over the last few months. It wasn't long ago a mate of mine shouted a very nice red for SXY breaking $1.00.

In my view the drop as been due to a conbination of factors.
1.SXY probably surged upwards too far too quickly.
2. They have quite a diverse shareholder base across the world. E.g USA and Asian preso have brought international shareholders on board. Consequently when British Gas sold down their shareholding at about $1.07 theseinternational shareholders in my view panicked and sent the sp into a tail spin. It was very unfortunate as BG only sold because they needed the money.
3. The oil price has declined
4. World markets have declined
5. The "Fiscal Cliff" has spooked investors
6. The Mining and O&G sectors inAustralia have been hit.
7. The institutional cap raise at 74 cents fell into soft weak hands. When this is finished we should see a rise.

As you say the 2012 Annual Report is well worth a read. It is one of the best I have ever read.

SXY is poised to prove up a huge resource while at the same time its oil income will continue to improve. With respect to attracting a takeover bid I am sure there are several large company's looking at SXY but they won't strike until SXY has posted proven reserves. My first choice would be a company Major like a Shell, Total, BP but it is pure guess work at this stage.

One thing is certain. Majors do not like reserves Downgrades. They positively hate it and will do anything to reverse such a trend. Sooner or later one of them will jump.

Shale gas in Australia is growing fast and Senex will become a big player. Their results to date have been very encouraging and they have the cash to embark on a strong program to develop a huge resource base.

Any newcomer reading this should really read the 2012 Annual Report. It is illuminating. This is a very well managed company with significantly experienced large shareholders. Things will turn. Good news seems to come out just about every week.

Stay onside.