Vaga
there was plenty of known undeveloped gas behind pipe at Rayburn & Mesq and probably why we got a good price for the asset in a depressed market. The US is only just starting to show "signs" of recovery from the worst recession since the depression and nat gas storage & prices reflect this.
Obviously the cost and disruption to production to develop Ray & Mesq further was not viewed as worthwhile by STX Mgt. The sale flags to me that Mgt have bigger higher impact options to pursue, Baniyas, Cooper csg and other Teaxs prospects to name a few.....
Last year their was a MGT purge at STX and I see a far more aggressive Mgt style for this explorer going forward.
As a shareholder do you want dividends or do you want exploration opportunities and the upside that goes with it - I know the answer from most!
IMO the Ray & Mesq sale is aggressive Mgt in action - things have already changed - bring it on!
Cheers
HC
thar she blows - so what's it work to the sp?, page-23
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Last
23.0¢ |
Change
0.020(9.52%) |
Mkt cap ! $659.0M | |||
| Open | High | Low | Value | Volume |
| 21.5¢ | 23.0¢ | 20.8¢ | $2.859M | 12.94M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 226888 | 22.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 23.0¢ | 4366669 | 32 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| STX (ASX) Chart |