Australasian Investment Review
Things Got Worse For Nigel No-Mates
Friday August 12, 2005, 9:56 am
UBS has downgraded its rating on Santos (ASX: STO.ax) to Reduce 2 from Neutral 2 following the initial drilling results at the company’s Jeruk project.
The broker suggests the initial results from Jeruk-2ST4 have been disappointing, as the upper reservoir failed to flow a reasonable volume of oil and lower sections flowed oil and water.
This has seen the broker increase its risk weighting on the field to 50% as it now sees significant downside risk.
UBS has gone so far as to suggest the potential downside is below the company’s pre-drill estimate of 170mmboe in recoverable reserves.
The broker has cut its EPS estimates, with the 2005 forecast down to $1.03 from $1.14 and 2006 down to $0.94 from $1.12.
This has seen the broker’s target price fall to $9.89 from $11.15, while its valuation has fallen to $9.13 from $9.77.
The last closing price for STO was $11.42.
Santos is among the lowest recommended stocks in the Australian market with ratings of ten major equity specialists showing seven Sell recommendations and three Neutral ratings.
AIR publishes a weekly magazine. Subscriptions are free at www.aireview.com
Information provided to you by the Australasian Investment Review. Click below for more information.
http://www.aireview.com
Related Quotes
All Detailed Quotes
Delayed 20 mins
Quote data provided by Reuters
wrxsti
Next article: ABN Prefers Brambles, Toll Above Patrick
Previous article: How To Play News Corp's Index Departure
- Forums
- ASX - By Stock
- CUE
- ## santos jeruk broker downgrade article! ##
## santos jeruk broker downgrade article! ##
-
- There are more pages in this discussion • 7 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 CUE (ASX) to my watchlist
(20min delay)
|
|||||
Last
11.0¢ |
Change
0.005(4.76%) |
Mkt cap ! $73.32M |
Open | High | Low | Value | Volume |
11.0¢ | 11.0¢ | 11.0¢ | $2 | 19 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
12 | 773925 | 10.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
11.0¢ | 1022256 | 17 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
12 | 773925 | 0.100 |
3 | 34479 | 0.098 |
1 | 103000 | 0.097 |
1 | 18000 | 0.096 |
2 | 152051 | 0.095 |
Price($) | Vol. | No. |
---|---|---|
0.110 | 1011709 | 16 |
0.115 | 200000 | 1 |
0.120 | 440500 | 4 |
0.125 | 344281 | 2 |
0.130 | 350000 | 1 |
Last trade - 10.05am 05/07/2024 (20 minute delay) ? |
Featured News
CUE (ASX) Chart |