It’s been on a tear so some selling pressure upon good news release isn’t unusual - all that is good is already known I’d say.
What does stand out upon preliminary viewing is the increase of the FCF BE level as a result of the growth strategy. Not sure if many think Santos is quite ready for this step given how high the debt remains...
Still though, with so much capacity removed from the market during the OPEC-US Shell price war, energy markets are prime for further capitulation. Kevin Ghallager and co. may have seen everything they need to believe oil prices will be sustained at these levels for some time.
Strike while the irons hot?
DYOR
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