STO 0.75% $7.90 santos limited

hardmano. re santos, page-2

  1. 16,270 Posts.
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    STO was sold down because of the drilling update on Jeruk just like CUE. STO has had a good sp rise in the last 6 months partly as a catch-up to other oilers (because it has been slower to respond to the high oil price) and partly on anyicipation that Jeruk will be big. Thursday/Friday's drilling update (STO's release that was released again by CUE on Friday afternoon) had a very poor flow rate at the last test. I still think Jeruk will be a goer but the traders jumped off (some would have bought ahead of Thursday's news and if they were T+3 they may not have wanted to risk holding any longer).

    H
 
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