I am not going to say I expect weakness on the buy the rumour sell the fact approach. i believe the announcement today simply confirms teh incredible buying opportunity that is now available.
The announcement did not say minor gas shows or anything like a qualification on teh potential of this well/field. Therefore i am interpreting that the result is so far as prognosed in their previous releases. Therefore the previous comments about cash flow probably available from the Shefcik field will likely be multiplied by 2. That would be cash flow of $2mil per month to STX.
For a $30m+ company, the current price is not going to remain when we are talking $24m pa of cash flow. Make your own call but I know what I think the value is, and it's much more than this...so watch it unfold from the sidelines or be part of the story!
regards
DF
stunning buying opp
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Last
23.5¢ |
Change
0.005(2.17%) |
Mkt cap ! $672.2M | |||
| Open | High | Low | Value | Volume |
| 23.0¢ | 24.0¢ | 22.3¢ | $2.882M | 12.38M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 348502 | 23.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 23.5¢ | 223310 | 6 |
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| Last trade - 16.10pm 26/06/2024 (20 minute delay) ? |
| STX (ASX) Chart |