Will Santos ever recover?, page-156

The oil market seems to be rebalancing. I want to see the share price reflect both a dividend and much higher future oil prices before shareholders consider any offer.
10c seems realistic this year assuming the 40% payout ratio. With debt paid down in a year or two the dividend could be much higher.
It's not so easy to find $10 billion for a takeover but bidders can't afford to muck about. These takeovers at low prices are a wealth transfer from their shareholders to the acquiring company.
Brent is up to $66 U.S. per barrel, the market expects this price to bring on an additional 1mbpd tight oil supply next year.
I expect it will only produce half of that and if the supply demand deficit widens rather than shrinks over the next year the price of oil could move much higher.