new all-time high for stu In a frentic 15 minutes, STU broke through the 70 cent barrier, with over 200 000 shares being traded around 3pm this afternoon.
The highest price of the day was 73 cents - a new all-time high for Stuart - and it closed at 72, a 4 cent rise over yesterday's 68 cents.
Stuart Petroleum owns 75% of the 1.6 mmbl Acracia field, and 70% of the 3.4 mmbl Worrior field.
At NPV$15/bbl, this represents $54m of underlying value.
It has 60 million shares, and owns 70-100% of 4 PELs in the Cooper Basin of South Australia.
Once you add, say, $5m each for the PELs, then you get an underlying value in the range of $1.20 a share.
Needless to say, I own STU and didnt sell any of them today.
stu look set to run, page-2
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