But oil prices can stay this low for a long while yet I am sure. I personally think the P50 forecast is $50 by year end 2017 (lower than many predict) and it means most oil companies who made there budget forecasts for 2016 and 2017 at $60 oil avg plus need to likely update there plans and cut deeper.
Very few projects are economic at current oil forecasts and high operating costs need to be reduced hard to compensate for the coming year or two.
Santos should find a bottom in this first half of 2016 I expect, and they will come out by mid year as a leaner and meaner company I hope to battle through until 2017... Then I would expect a significant rise up in oil price and SP.
I'm hopeful for 2017, I work in oil and gas and to be honest it's getting depressing seeing too many colleagues bite the dust and budgets getting slashed.
Short term, yes I think market is over-reacting to Iran and oil is going to cave to $25, but only very short, it will bounce back to current levels sub $30 by next week....
- Forums
- ASX - By Stock
- Can STO survive
But oil prices can stay this low for a long while yet I am sure....
-
- There are more pages in this discussion • 584 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add STO (ASX) to my watchlist
(20min delay)
|
|||||
Last
$7.00 |
Change
-0.020(0.28%) |
Mkt cap ! $22.73B |
Open | High | Low | Value | Volume |
$7.00 | $7.08 | $6.98 | $64.10M | 9.132M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 32277 | $7.00 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$7.01 | 42725 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 27277 | 7.000 |
6 | 64286 | 6.990 |
12 | 126558 | 6.980 |
7 | 101362 | 6.970 |
4 | 56370 | 6.960 |
Price($) | Vol. | No. |
---|---|---|
7.010 | 42725 | 4 |
7.020 | 2300 | 1 |
7.030 | 5000 | 1 |
7.040 | 50086 | 2 |
7.050 | 60675 | 7 |
Last trade - 16.10pm 01/10/2024 (20 minute delay) ? |
Featured News
STO (ASX) Chart |
The Watchlist
TON
TRITON MINERALS LTD
Adrian Costello, Executive Director
Adrian Costello
Executive Director
Previous Video
Next Video
SPONSORED BY The Market Online