Who's talking crap here? CS have Santos as a break even of $83 a...

Who's talking crap here?

CS have Santos as a break even of $83 a barrel - MF have Santos as a break even of $45-50 a barrel.

Reading the mid results:

"Forecast free cash flow positive in 2016 at US$45-50/bbl oil at AUD/USD of 70-75 cents"

Brent was last $47.69 and the AUD/USD is 72c

From Knox on Saturday:

DON’T panic about Santos’ low share price because cash will soon start flowing the right way for the energy company, managing director David Knox says.
The Adelaide-based company is just days away from a major milestone in its transformation into a significant Asian gas supplier.
It’s $US18.5 billion plant at Gladstone is about to produce its first liquefied natural gas, a process which enables methane to be shipped rather than piped.

This opens up exports which in time will see the Gladstone LNG plant supply 11 per cent of Malaysia’s gas and 9 per cent of South Korea’s gas.
“Shareholders should have confidence that GLNG is coming on-stream and it’s going to run well,” Mr Knox said.
“Have confidence in the company and the quality of our staff and our assets.
“And have confidence that we’ve got some really good growth options in front of us.”
On the back of low global oil prices and Santos’ high debt level, the market has hammered the stock with its share price dropping as low as $4.09 this month from nearly $14.59 a year ago.
Yesterday it was hovering around $5 a share.
The collapse has led the board to instigate a review of assets by chairman Peter Coates and announce Mr Knox will step down when a successor is recruited.
Talking to The Advertiser in his first media interview since that announcement, Mr Knox said a date for his departure had yet to be set and that he remained focused and committed to running Santos and delivering GLNG.
The project, one of the biggest industrial complexes in Australia, was tracking on time and under budget.
It will generate revenue for 30 to 50 years and support about 1200 permanent jobs.
If oil is above $US40 a barrel and the Aussie dollar at US80c, GLNG will be cashflow positive from next year.
Mr Knox believes the chairman’s review will lead to a share price revival.
“It will demonstrate the real value of Santos,” he said.
Recent activity in the sector — particularly Woodside’s $US11.6 billion takeover bid for Papua New Guinea-focused Oil Search — has bolstered support for petroleum companies, including Santos.
Oil Search and Santos each own part of the ExxonMobil-operated PNG-LNG.
Some analysts note the takeover bid for Oil Search implies Santos’s stake is worth about $6.5 billion — or more than its entire market capitalisation today of under $5 billion.
In addition, Santos owns 30 per cent of GLNG plus has its heartland Cooper Basin and Moomba operations and assets in WA, NT, NSW, Victoria, Indonesia and Vietnam.
“You don’t need to be a mathematician to work the numbers out,” Mr Knox said.