STX

0.00%

19.5¢ strike energy limited

Gina doesnt call the shots f.stx opetator.

First 138 Last

Share
Profile

Follow
Oraka

432 Posts.

105

17/06/24

23:09

Post #: 74360003
Share

Originally posted by ftroop: ↑

Hi JD

It's all IMHO obviously, but here goes:
The finance package approved by Mac Bank in December 2022 assumed STX would find lots of gas at SE 2 and 3, which unfortunately did not happen.
That means the $80M unapproved facility is likely to never be approved. I just think of it as a phantom facility that evaporated in February 2024 when the SE 3 results were released.
There has not been any announcement about the $40M tranche short term facility which still has not been drawn down and they only have until 30 June to do so, unless renegotiated.
STX needs to move as quickly as possible to develop SE1, but I expect they do not have enough available funds to pay for it because STX must maintain minimum liquidity levels (ie real cash held on deposit which cannot be spent) to satisfy Mac Bank while there are still credit facilties in place.
It is tempting to say that STX can simply delay developing SE1 until Wailyering delivers more cash, but I expect Gina will be playing hard ball on trying to accelerate WE as much as possible, which will require STX to raise hundreds of millions in debt and equity, unless they sell down, which means they will probably lose operatorship.
And Gina will be fully aware of the possibility of unitsation for SE1 and she can play that card hard now since I doubt the WA Gov would approve SE1 to be developed as a stand alone project when STX is arguing that WE should be built as big as possible to allow export sales of LNG.
It's always good to hear from major egos who have SN on speed dial, but this is a funding question that ultimately can only be anwered by Mac Bank, not SN or the STX BOD.
In conclusion, I don't think STX's true financial position is particularly strong.
The simple solution is that Mac Bank insists that a CR is done and I'm tipping it will be done by the end of September.

Cheers
ft

Expand

Gina doesnt call the shots f.stx opetator.

STX Price at posting: 20.0¢ Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

Reply

Top Stories

VYS

Vysarn acquires Waste Water Services Pty Ltd for $7.5M; WWS to become subsidiary as expansion continues

PYC

PYC achieves key designation for drug aiming to treat blinding eye disease ADOA

TBN

Tamboran kicks off Shenandoah South pilot project with SS-2H well spud

CCO

The Calmer Co’s Anthony Noble reflects on record breaking FY24

HVN

Consumers cautious according to Harvey Norman, as profit slumps 35% in FY24

HLX

Helix investor makes partial takeover bid, proposing board changes

LLC

Lendlease sells off US east coast construction operations in latest global divestment push

CYM

WA Nifty copper project steps closer to restart with Cyprium Metals inking $40M loan from Glencore

Week 35 Wrap: HotCopper’s top watched; ‘iron ore winter’ has started; Oz inflation @ 3.5% MoM; Harris fracking flip

Consumer Staples Shine Amid Retail Slump – Key Stocks to Watch

There are more pages in this discussion • 85 more messages in this thread...

First 138 Last

Add STX (ASX) to my watchlist

(20min delay)
Last 19.5¢		Change 0.000(0.00%)		Mkt cap ! $558.7M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

Buyers (Bids)

No.	Vol.	Price($)
1	2720	22.0¢

Sellers (Offers)

Price($)	Vol.	No.
18.5¢	40553	2

View Market Depth

No.	Vol.	Price($)
1	2720	0.220
1	30075	0.210
2	200087	0.205
6	226772	0.200
3	351523	0.195

Price($)	Vol.	No.
0.200	485947	12
0.205	428491	6
0.210	440073	10
0.215	3033257	11
0.220	418656	7

Last trade - 16.20pm 30/08/2024 (20 minute delay)

STX (ASX) Chart

Day chart unavailable

Gina doesnt call the shots f.stx opetator.

Vysarn acquires Waste Water Services Pty Ltd for $7.5M; WWS to become subsidiary as expansion continues

PYC achieves key designation for drug aiming to treat blinding eye disease ADOA

Tamboran kicks off Shenandoah South pilot project with SS-2H well spud

The Calmer Co’s Anthony Noble reflects on record breaking FY24

Consumers cautious according to Harvey Norman, as profit slumps 35% in FY24

Helix investor makes partial takeover bid, proposing board changes

Lendlease sells off US east coast construction operations in latest global divestment push

WA Nifty copper project steps closer to restart with Cyprium Metals inking $40M loan from Glencore

Week 35 Wrap: HotCopper’s top watched; ‘iron ore winter’ has started; Oz inflation @ 3.5% MoM; Harris fracking flip

Consumer Staples Shine Amid Retail Slump – Key Stocks to Watch

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Gina doesnt call the shots f.stx opetator.

Top Stories

Vysarn acquires Waste Water Services Pty Ltd for $7.5M; WWS to become subsidiary as expansion continues

PYC achieves key designation for drug aiming to treat blinding eye disease ADOA

Tamboran kicks off Shenandoah South pilot project with SS-2H well spud

The Calmer Co’s Anthony Noble reflects on record breaking FY24

Consumers cautious according to Harvey Norman, as profit slumps 35% in FY24

Helix investor makes partial takeover bid, proposing board changes

Lendlease sells off US east coast construction operations in latest global divestment push

WA Nifty copper project steps closer to restart with Cyprium Metals inking $40M loan from Glencore

Week 35 Wrap: HotCopper’s top watched; ‘iron ore winter’ has started; Oz inflation @ 3.5% MoM; Harris fracking flip

Consumer Staples Shine Amid Retail Slump – Key Stocks to Watch

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News