WOW $6.88 cash. That's a left field move. Would have surprised many considering STO briefly traded below $4 only 3 weeks ago and to think I shied away at the time because I was scared that a credit rating down grade could trigger a redemption on their Euro notes and capital raising. Sometimes fortune does favour the bold after all.
I'd say its game on now for M&A activity in the Australian oil and gas sector. First the Oil Search bid and now Santos. Big assets first small should follow.
Eshmun
DLS Price at posting:
65.5¢ Sentiment: Buy Disclosure: Held
