What you have to remember that Australian Investors/Brokers are stupid when it comes to seeing value in Australian oil/gas shares. What has happened over many years is that Australian oil/gas companies spend a lot of money finding and developing oil gas reserves, but the market fails to give reasonable value. In the meantime Asian companies just stand back and watch, then move in to get the bargains. The most recent under-valued T/O's being AWE ,ROC and over many years there have been a lot more. So unless another bidder shows up SXY most likely will get taken out at about $4.80 maybe with the sweetener of including the next div.The next share to be taken over by an Asian company could be CVN again only when they have spent investors money, brought more of their projects nearer to production, and as normal the ASX will not give fair value to the CVN shares.
SXY Price at posting:
$4.39 Sentiment: Hold Disclosure: Held
