Senex Energy Ltd flagged as Santos Ltd takeover target, page-2

First 2 Last

Share
Profile

Follow
squidgy

1,454 Posts.

534

07/09/17

09:09

Post #: 27050739
Share
Originally posted by funwithsimon1979 ↑

The Senex Energy Ltd (ASX: SXY) share price exploded 25% higher today after the Cooper Basin-based oil and gas producer received a double valuation upgrade from analysts at Macquarie Group Ltd(ASX: MQG) and Credit Suisse.
Consequently, Senex shares are up to 33.5 cents and according to The Australian newspaper the gun analysts at Credit Suisse reckon the shares are worth 40 cents and even flagged the potential forSantos Ltd (ASX: STO) to make a takeover bid for the company.
Santos already has a substantial debt pile and with Senex currently valued at around $390 million any Santos takeover bid would almost certainly require a request from Santos for its shareholders tip more capital into the Adelaide-based energy operator.
The upgrades to analysts’ price targets are also being triggered by yesterday’s news that Senex was successful in acquiring a 58 square kilometre coal seam gas acreage from the Queensland government for domestic gas supply.
Interestingly, “senex” means “old man” in latin and some of its shareholders might be feeling a little long in the tooth with the stock down 54% over the past 5 years. Like its peers, Senex remains leveraged to oil prices and given they’re in a long-term bear market, I’m not a buyer of Senex or Santos shares.

Expand

Senex is a Latin word literally meaning a man of old age. It may specifically refer to:

Wise old man, an archetype

This was the meaning they were going for (I was consulting with them when they were choosing the name) but everyone suspected is was just a way to get the handle 'sexy'.
SXY Price at posting: 33.5¢ Sentiment: None Disclosure: Not Held
10 Upvote

0 Great analysis

Reply

Top Stories

RZI

Raiz to exit Malaysia; focus on Australian business growth

Climate change to drive market trends to the moon

STN

Saturn’s stars have aligned for the gold explorer’s Apollo Project

ITM

Fast-track assaying yields 182 g/t gold for iTech at new NT play

TVN

Tivan and EARTH AI gear up to commence fresh drilling at Sandover lead-silver project, NT

The Big Deal: Free-to-air TV swings the axe, but will it be enough as enormous sports deal bills loom?

RHI

Red Hill Minerals Signs $6.5 Million Agreement with Peel Mining to Explore Curnamona Project, NSW

CUV

British study shows Clinuvel drug effective on DNA of UV-damaged skin

AWJ

Auric jumps 10% on maiden cash sales in Q3CY24 and firm guidance

KGL

KGL sniffs 19% Cu from drilling at Rockface play in NT