Oil and gas up . Oil new highs Aussie dollar down prospects looking good finance market open again- some banks playing green money and avoiding oil and gas but still plenty of cheap investment dollars out there PNG politics - well it is what it has always been PNG expansion - good Alaska promising Demand curve going well
So on a daily baseis share price is being stepped down? Can't work out which is leading which and if it is just arbitrage stuck in a slow downward spiral and no interest in changing direction. Can all teh arbitrage players only want one direction?
Santos short- well that was the killer blow as no one understands if broker / arranger still holds position on own account or has offloaded it all into makretplace meanwhile the seller has a couple of years locked in and may well close it down at any point in time . Most off that STO announced tpo public but good to give awareness as market was obviously not transparent.
Something has to happen in regards to position reporting in Australia and overseas as options and synthetics need to be taken into account as teh greymarket and deep pools , OTC etc are all being played with by large holders hedging their positions but they simply report only long equities in Australia. Perhaps making nominees transparent or now technology allows changing holder notices to 3% and enforcing related or contracte dparties with offmarket positions or agreements.
Market is not being transparent IMO.
Can only hope some of this is unwound before final allocation of STO shares happens to OSH holders and then there is actually some reward to the " new Santos" being a larger player of scale and tehy can progress all projects quickly.
I really hope OSH don't have their hands tied up and announce any good news rather than wait for STO to take all the glory after combination. Same goes for STO as they are now starting from a lower base and becomminga traders plaything?
