IMHO, I think STX has just opened up the throttle on the # of parties that may want a piece of STX.
The current, often discussed, suspects: Who now DON'T want STX to turn "Molecules into Electrons" 1. BPT, MIN, Hancock - for obvious reasons 2. WDS, Santos - depending on which way the export vs domestic option rolls 3. DomGas Alliance members (WES,CSBP et al) - need cheap Gas - lock off GSA's
BUT potential new suspects: Who DO want STX to turn "Molecules into Electrons" - at scale 1. AGL, Origin - BOTH on record in the past weeks saying they won't invest in wind/solar infrastructure, but would rather see peaking gas on their balance sheet. 2. Other hungry electricity players
So whether August is the date (as Govt gets "played" by vested interests) or its through to a November SE1 Peaker FID date, who knows when it kicks off. Either way the party is getting bigger. Someone will blink. Or STX is left to trundle along with this innovative plan all on its lonesome......... or cheeky JV's turn up.
@19crowe45 I still genuinely believe we have a valuation on our gas that sits closer to 80 than 20c. Divvies a pipe dream still. Always love 618's detailed FCF view.
My Gas napkin maths still says:
50% owned WE proven - 16c
100% owned SE 1 proven - 6c
100% Walyering proven - 8c
= 30 cents now
IMMINENT
the next WE well - 10c
25% Booth - 5c
100% OH - 20c
Anything else - 0
= incremental 35c TOTAL 65c without any 20-25% premium in the M&A offer. Even then the Board would review it..................
As we all know - O&G isn't for the fainthearted.
STX Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
(20min delay)