Current pullback in the share price probably represents a reaction to the overnight fall in oil rices, profit taking and nervous nellies exiting to cover three day trades. The talk of a consolidation of the Cooper Basin players seems to have been just that for the time being, talk. But if any of the mid cap producers was a prime candidate it would have to be Senex Energy with its extensive and diversified portfolio of oil and gas assets, both conventional and unconventional, healthy balance sheet and NO DEBT.
Some 80 million plus shares have traded over the last several days over 7% of the register but so far no change in substantial holder notice. So maybe those 25 million shares that traded on one day were just churn! Don't think so.
I have always watched for unusual trading volumes in a company on the assumption that someone knows something that I don't know. And if the buyers are prepared to pay higher prices then that tells me what they know and I don't know could be quite significant.
I know Senex is well regarded by some of the analysts at Macquarie who are always good for a bit of m&a action.
Be interesting to see whether the company reports success with Martlet North #1. Should have a result any day now. They seemed to think it was a low risk play given the success at Martlet #1.
- Forums
- ASX - By Stock
- SXY Cooper Basin consolidation
Current pullback in the share price probably represents a...
-
-
- There are more pages in this discussion • 50 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SXY (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online