"Also was the only one arguing against hedging at the bottom with the"
Yes, I rember you posting that at the time. But you are talking about a board that refused to do a capital raising when the share price was over $13 and did not hedge when oil price was high. They are true contrarians.
"It's turned out to be a war of attrition (as you imply) in the oil price and yes the world and all analysts believe that $60 oil is still the "new normal".
We have to hope that $60 is the new normal. But I fear that will not be the case. I think STO should start investing in renewables. In spite of all the garbage put out by the federal government, latest figures show that solar panels are going up in heaps and bounds. There are companies out there falling over themselves to start investing in renewable in Australia.
Watch this space with Ballarat and Mildura in the near future.
You may believe that its only coal that will be affected, but I would invite you to think again.
Think what will happen when electric cars come down in price and compete with petrol. What do you think people are going to buy? Put solar on your house and not only save on electricity charges but now you have free travel. Don't think its not going to happen?
One think I don't understand though, why is no one working on de-coupling the price of gas from oil?
Pear
STO Price at posting:
$4.89 Sentiment: Hold Disclosure: Held
(20min delay)