STO - BUY IMO, page-61

Agreed, definitely due to bad decisions. Most common reason for a stock to be cheap. #2 is cyclical factors.
Often occur together and compound on each other as in this case.
A smaller player is a valid option for some however I prefer a large cheap company. Generally a DCF valuation should account for the relative security of a small business vs a large one in the discount rate you apply.
Always open to new ideas though, things that look better.
Bad management still in place yup, that's preventing a lot of people buying and you guessed it ........ that makes it cheap.
Not worried because almost every company is run by retards. The returns from STO depend mainly on the price of oil on the fixed asset base.
That has to go a long way before they start making dumb decisions again, by then the market will be telling me how brilliant the management is and I will be selling.