re: oil going higher(4 christianp) G'day Ian,
Yes that is true, but that is not to say that Santos does not benefit significantly from higher oil prices. It certainly does. And, despite having the substantial part of their revenue from gas, they have a TRUCK load of oil production as well. This will continue as long as forecast exploration is successful in places like Red Sea etc etc. So to imply that STO will not benefit from higher oil prices is completely erroneous (I don't think you are saying that though)
Moreover, my research says that with a 14% upward revision in average oil prices for 2004-5 to US$40.66, Santos' valuation stands to benefit the most.. (up 13%)...ahead of OSH (11%) and ROC (11%).
Indeed, this has been reflected in STO's price action over recent months. Of course before the reality check of the profit announcement and the Moomba drag etc
re: oil going higher(4 christianp) G'day Ian,Yes that is true,...
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