be frank and don't fudge it, page-2

The SP drop although assurance by the management is mainly due to the significant oil price drop. For instance, the oil price dropped 5% even WOR which is not an operator is being hammered as well. It is true that they are oil and gas consultant for the major operators but due to the low oil price, their profit is greatly affected. In fact, the oil price down by 5% or 10% today won't really affect them much. Some people claimed that significant drop might be good for them, as it washed out the high cost producer more quickly and the faster the oil price recovery. At current market sentiment, even those company like HZN which have hedged their oil price, which should be in a better shape, yet, you can see what is the performance of their share price.

It is clear that we are riding the bear at the moment. For short term, the oil might may even stay below $40, but I believe that if the oil price still remaining that low, the storm wont last more than a year, as the high cost shale revolution will definitely belly up.
http://www.investing.com/analysis/oil's-major-support:-$40-barrel-262090

IMHO, I see both risk and opportunity in STO. I can see that their management is trying to protect the interest of their shareholder by not raising equity. Although some analyst like CS keep insisting they will need CR where STO management said otherwise, I believe that STO management should know their condition better than CS. STO still have many options i.e. asset sale. On the other hand, the risk is of course CR really take place due to the low oil price and STO can't find other better options to settle their debt. In conclusion, I would say that as long as STO can ride through the storm without CR, even though the near term dividend might be near to none, the shareholders will be handsomely rewarded.