Rumour and speculation, page-27

pumper - MS decreased the forward oil price assumptions and by doing so decreased the PT on all the Energy stocks inclsuing ORG, STO, BOT, SXY etc. another classic case of making adjustments after the fact . simila to when Citi and Macbank had a 20c valuation on MGX only to see this valuations double over the next 12 months

BTW - they have applied an additionla 25% discont to AWE due t time to prodiction and execution risk of Watsia