STX Charts, page-574

Just noticed something on the chart. Since Nov 22, with the exception of a very short period of time in late Feb (for about 8 trading days), the 50d EMA (yellow line) has actually provided a decent support and entry points. Whether this continues or not remains to be seen



Just seen the closing action. Very unusual volume and pricing action indeed. Unsure what to make of it to be honest. We may find out one day, or may be not

Also interesting that SN mentioned the business potentially generating revenue of c.250mn when the four fields come online. In my model, I had close to 400mn. It had me thinking about my assumptions. After listening to the podcast again more closely, I'd realised he was only referring to Walyering and the two Erregulla fields, but excluding Ocean Hill. Given OH is still largely unappraised (even though they had been previous well drilled there and it has been derisked by Walyering), it's probably wise for me to remove OH from projected cashflow and move that into the exploration bucket until it is successfully appraised.

Still, 250mn is an astonishing amount of FCF relative to its current EV.

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