Been following Art Berman for the last 2 years.
I am valuing STO on the obvious assumption that $33 per barrel breakeven was an illusion, in fact I suspect rising drilling costs will make this number $46 to replace reserves.
At $100 per barrel I am still coming to a $9 per share valuation for STO even if I allow another $720m U.S. per annum to fill the GLNG hole making a $70 U.S. per barrel breakeven.
A quick and dirty estimate sure but I think it's going to be around there, at my $3.5 average price on 41,000 shares it will be proving worth the wait and at $5 now worth the hold.
I watch with bated breath to see if the crude drawdowns of last week will continue.
These guys have recently turned bullish, perhaps their timing is better than mine.
April Adam reckons, it's very bold and unusual to be so specific.
http://blog.gorozen.com/blog/why-we-are-commodity-bulls-amongst-many-bears
$50-60 New Normal or U.S Shale Bubble?, page-784
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Last
$7.02 |
Change
0.180(2.63%) |
Mkt cap ! $23.02B | |||
| Open | High | Low | Value | Volume |
| $6.94 | $7.03 | $6.91 | $81.59M | 11.66M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 125302 | $7.01 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.02 | 766 | 1 |
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| Last trade - 16.10pm 30/09/2024 (20 minute delay) ? |
| STO (ASX) Chart |