stu striving for competitiveness, page-3

Yes, but isn"t that one of the hidden beauti's of this stock. The hedging is negligible come 1 July, which should about coincide with the coming production rampup. The Sept quarter should be shockingly good! and make STU awfully visible. The final wake up call IMO (esp if the diesel refinery is on track and getting good press, by then). I am still fully optimistic of a 3 in the front of STU's sp this time next year.

Time will tell if I am correct or not, but simply buying on the basis of todays reserves and even resources seems shortsighted. Management, culture, technical capability, cashflow, efficient capital utilisation, and opportunities all seem as important to me. STU is one of a handful of oilers I find hard to fundamentally fault (except that utterly STUPID 2004 hedging decision), and one of the cheaper of those. There's a few high flyer market darlings out there riding for a fall IMO, including one with very little production/capitalisation, a VERY late project, and full of hubris.

Entropylord