SXY has disappointing on the charts in comparison to its peers. Mr Market has added no upside to the SP for the PEL 516 outcomes. IMO SXY is trading solely on its oil revenues and cash balance. A positive 1/2 yearly report on 25/2/13 could be a catalyst to push up OR Mr Market could wait for more on PEL 516. Who knows. One thing though I tend to agree there has been constant selling pressure at these levels, almost like there is a party suppressing the price. If we are talking theories here, I'd like to bet either STO or their partner Total are looking to expand their CB assets and shore up more gas for DOM gas market and feed their 2nd train at Gladstone. Additionally STO might be looking at various ways to protect itself from a TO from Shell, who would love to acquire their Gladstone plant, without the pain of having to build their own. If its not SXY in their sights i believe it will be another CB junior to lock in those CB assets at what could be bargain basement prices. Interesting 3 months ahead.
SXY Price at posting:
63.0¢ Sentiment: ST Buy Disclosure: Held
