Spoken in context with regards to STX, I'd say this is quite an understatement! :o) Rayburn has the great potential to make STX a different company from the one of the past. Think about the growth potential when they have net cashflow of 25+ million per year. I have found it amazing that the market has been reacting so slowly to the positive results achieved to date. Even after the D3 result last week, the price barely moved. I guess most people are waiting on the flow rates to determine just how profitable the Duncan wells can be. Anyway, like I said on the STX thread, I'm already set, and don't really care how long the market takes to recognise the discovery. If it is successfully developed, no doubt the market will play catch up eventually.
hmmm i guess i just compare the two and think ete should be valued higher than it is.
I fully agree, but one cannot compare STX to ETE as they are two very different beasts. I think ETE will benefit going fwd when Marcoola comes online, and when the next qtrly report reveals just how much cashflow they have enjoyed out of H24L. Besides that, I think we'd have to wait for the 2008 exploration programme to commence before we see any sharp appreciation in its share price. Based on H24L and Byrock/Marcoola, ETE should be closer to 28-30c according to my risked valuation model.
what are your thoughts / predictions on ete in the next 6 months?
No idea mate. I don't like making price forecast as the market is so inefficient at times that who knows what it is thinking! Obviously a few discoveries wouldn't go astray :o)
618
ETE Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
