SXY - Senex Energy
- Thread starter Knucle
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I spy with my little eye that SXY is in a trading halt this morning pending 2 announcements -
one relating to reserve upgrades which has now already been released and details first time 1P reserves and doubling up of P2 and P3 reserves and
the other relating to discussions with another party about a "material transaction".
I spy with my other little eye that STU another Cooper Basin explorer and producer is also in a trading halt today pending an announcement regarding a "significant corporate transaction".
And BTW SXY still holds a 20% interest in Impress and the BPT offer ends at COB today.
one relating to reserve upgrades which has now already been released and details first time 1P reserves and doubling up of P2 and P3 reserves and
the other relating to discussions with another party about a "material transaction".
I spy with my other little eye that STU another Cooper Basin explorer and producer is also in a trading halt today pending an announcement regarding a "significant corporate transaction".
And BTW SXY still holds a 20% interest in Impress and the BPT offer ends at COB today.
Trading halt requested by SXY pending resource upgrade and possible outcome of a material transaction together with another party.
Subsequent statement increasing reserves-
1P initial 2.3
2P 194 % increase from 1.6 to 4.7
3P 193 % increase from 4.5 to 13.2
Further statement requesting continuation of Trading Halt pending an announcement of the material transaction above.
Looks like some good times for holders including moi.
Subsequent statement increasing reserves-
1P initial 2.3
2P 194 % increase from 1.6 to 4.7
3P 193 % increase from 4.5 to 13.2
Further statement requesting continuation of Trading Halt pending an announcement of the material transaction above.
Looks like some good times for holders including moi.
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Well played. SXY: Senex and Stuart Announce Friendly Merger
Well that's 3 ticks for today
reserve upgrades
merger with Stuart Petroleum
sold Impress shares to BPT
and an extensive drilling programme about to kick off.
2011 could be a company making year.
I am a holder
Hi Knucle
A presentation was released to the ASX this afternoon. It shows the effect of the merger. There is no doubt that STU is a nice fit. As to the premium paid well hopefully by the end of the year we will have recovered it twice over or more.
What I like about this announcement is that this will increase SXY's exposure to Potential Tight Gas Fields that lots of companies have succesfully produced from in the Texas Region in the U.S.
They have cash reserves plus a whole new Management team with great experience in building significant value in companies.
I have held for at least 12 months and will continue to hold!
Regards
Bazollie
They have cash reserves plus a whole new Management team with great experience in building significant value in companies.
I have held for at least 12 months and will continue to hold!
Regards
Bazollie
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Any idea why the share price is closing lower despite the obvious positive growth indicators (mainly the merge with STU, amongst other things)?
Isplicer - The market may have believed the offer to Stuart shareholders was a little generous. I guess it was not if the exploration permit areas which Stuart has can reasonably be expected to be as useful as some other areas in the Cooper have been. At any rate, the share price for Senex appears to be starting to come back. With drilling reports for the current well about to come in and drilling in the growler field about to start, we should see some steady rises over the next couple of months. (All the more reason for the Stuart shareholders to be happy.)
By the way, the code for Senex "SXY" is pretty much an abbreviation for the universally complementary term "sexy". Let's hope that Senex turns out to be a really sexy stock in 2011. Despite a history of slow delivery on promises (in times when this company went by its former name under its former management) there is good reason to believe that things really may happen in the next 12 months. Can we reach $1 per share by the end of the year? Any opinions anyone? (I own stock in SXY ('sexy' energy) by the way.)
By the way, the code for Senex "SXY" is pretty much an abbreviation for the universally complementary term "sexy". Let's hope that Senex turns out to be a really sexy stock in 2011. Despite a history of slow delivery on promises (in times when this company went by its former name under its former management) there is good reason to believe that things really may happen in the next 12 months. Can we reach $1 per share by the end of the year? Any opinions anyone? (I own stock in SXY ('sexy' energy) by the way.)
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Not a bad run today! STU takeover almost complete - this run *could* continue
Any predictions for Senex over the coming few months. Can the 700,000 barrels of oil production be achieved for this financial year? 700,000 barrels is worth about $70,000,000 isn't it. With market capitalisation of about $230,000,000 this seems significant. (I own shares in Senex.)
I think that in the next month or so there will be a bit of peak in value as the Growler field reopens and the development wells there kick off. I don't doubt that SXY has timed its capital raising to more or less coincide with this. After that I guess prices will fall back a bit before rising slowly in the longer term as pipelines get built and as production is ramped up. I would expect significant gain over the next year assuming the recently announced production target looks like being achieved. Over the next few years I think that there should be very significant gains in the lead up to the start of gas production from company's the coal seam gas reserves. All of this is somewhat subject to the world not falling off a financial cliff because of Greek or other European default etc etc. There is also the possibility of a take-over bid. QGC etc must be thinking about having a go with SXY's coal seam gas reservers and possibly extensive unconvential gas reserves. A bid would have the potential to lift the SXY price a little earlier. (I own stock in SXY.)
Anyone with an opinion about how high Senex may go during this current run? 700,000 barrels is worth about $70M isn't it? What market capitalisation does an annual production of this size (if achieved) suggest in combination with the promise of future production of coal seam gas? Any comments??? (I hold Senex.)
Impress me by giving a more precise timeframe and your reasons. What is a reasonable value for these shares at current oil and gas prices?:guitar:
so you want precise timeframe, rationale and target valuation? lol not looking for much then Knucle
what data do you have now to help with a valuation?
in terms of current oil prices - SXY is significantly outperforming oil. while trend is same direction I'm not sure we can read too much into relationship with current oil prices.
Seems there is more going on with SXY - hopefully its not simply the s3xy new symbol
