People's life savings are being wiped out as Santos continues to fall. I imagine that every morning the first thing they look at is oil price hoping its not down... again. It must be very very trying and many would have held on waiting for positive news. And who can blame them when STO managemnt pay a recent div and assure investors situation is fine and under control. Well clearly Mr Mkt doesn't believe these statements and the blood flow runs unabated.
STO don't/can't control the price of oil and LNG. But they know the mkt is rife with stories emanating from big funds/analysts such as CS... that a CR is inevitable. If that IS the case (and i suspect there is very few alternatives) then STO needs to provide some certainty. IMO they should call a trading halt and negotiate a deal, even if it takes a week.
Whilst uncertainty rules and nobody knows what to do esp small investors... then the SP will continue sliding. Management receive HUGE salaries. Small shareholders risk their life savings. There is a huge power imbalance. Yet all we hear is silence.
STO Price at posting:
$4.61 Sentiment: None Disclosure: Not Held
(20min delay)