I am a long term holder of SXY although I am starting to believe the ID is not doing enough with the companies permits to unlock its potential. I believe the company is under capitalised and needs a JV partner to more rapidly drill out Senex's permits and get more aggressive in unlocking the potential of the Cooper Basin. We have a SA Gov't that is eager and willing for this to happen. 30 wells this FY15 is just not going to cut it. Its time for Sentient and ID to hand the entire company over.
As a LT Senex SH I would accept a full script offer from STO, STO will shortly become a cash generating machine. Most annalists have a $18 tag on the stock.They need more gas to feed their Gladstone plant and East Coast domestic market at huge margin prices. They have good working knowledge of the CB and they have their Moomba plant for processing the oil. Give me $1.20 full script offer in STO stock and I would gladly hand in my SXY paper. Ian Davies needs to do something with this Company. 30 wells this FY15 is not going to cut it. The market knows that. The 2 year price history (gone nowhere) of this stock proves that Its time ID to either fold...or get access to more capital.
SXY Price at posting:
63.0¢ Sentiment: Buy Disclosure: Held
