http://www.abc.net.au/news/2015-12-09/no-comfort-for-australian-oil-and-gas-investors/7015452
"Current share prices justify oil at $US60 a barrel: UBS"
"Woodside's current price implies oil at $US58 a barrel and Santos $US56 a barrel."
"Alternatively, UBS finds at the current spot price, the Santos share price of $3.31 crashes 89 per cent to 37 cents per share with a protracted period at $US40 a barrel." - 37c/STO share for US$40/b (now we're much less than $40/b).
"
'Oil could drop another 50 per cent'
However all this is positively rosy compared to the view across the road from rival investment bank Goldman Sachs which recently forecast oil could drop by another 50 per cent to $US20 a barrel."
http://www.abc.net.au/news/2015-12-09/no-comfort-for-australian-o...
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