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STO - Santos Limited

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This stock is starting to look up in todays trading, getting closer to my trigger:)

It will be interesting to see how the market responds to the dilutionary effect of the equity raising, or is it already priced in do you think:confused:

A continued downtrend in oil will not be a welcome event for the SP though:(
 
Well sold my holding at open this morning for a tidy little profit:)

Will be keeping an eye on this stock though as it still presents an opportunity to trade short term for a respectable profit.
 
maybe retrace to 13.50 - 13.80 zone, volume is tapering off back to average / normal so rights issue holders have or are stopping selling or bein shaken out,.Another down day on lower vol could be a goer for a long:)
 
oldblue said:
As the market settles after the issue, the SP's have recovered somewhat, not entirely, because of the dilutionary effect of the issues, but enough to warrant taking a cautiously optimistic view in most cases.

I don't see any reason why STO's SP shouldn't follow a similar pattern, in the absence of any other developments but DYOR.
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This article states that Santos' Environmental Impact Statement may be approved in the next two weeks (it would be the first among the Gladstone competitors). As well, it reiterates that Santos has said that it is "very, very close" to announcing a gas buyer.

If (huge if, obviously) these both hold true, the rebound after this capital raising could be very nice. Timing of any announcements will be interesting, it would be nice to buy more shares first when the retail portion are released for trading on June 17.

http://business.theage.com.au/busin...-8-billion-qld-lng-project-20090524-bjgz.html
 
re: impact of SPP and dilution

Correct me if I'm wrong but isn't there going to be another hit on the day shares go on market due to profit taking? Isn't this the general behaviour to be expected?
 
johannlo said:
re: impact of SPP and dilution

Correct me if I'm wrong but isn't there going to be another hit on the day shares go on market due to profit taking? Isn't this the general behaviour to be expected?
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Santos' shares are being released on two stages, 58% of them went on the market Friday, the rest June 17. On Friday, it indeed did close $0.55 lower than the day before.
 
I applied for additional rights under the rights offer. Anyone know when STO will advise whether my application has been filled in full or partially?

I hold STO
 
According to the retail entitlement doc issue of new shares on 16 th june and normal trading of new shares issued expected on the ASX wednesday 17th june
 
oh, and the despatch of confirmation notices and posting on computershare website also on the wednesday 17th june
 
rustyheela said:
oh, and the despatch of confirmation notices and posting on computershare website also on the wednesday 17th june
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If they post on Wednesday, I will probably not get to Thursday or Friday. Presumably STO will need to do an ASX announcement of policy and so that people know if there is an underwriting overhang or not?
 
i would expect it to be oversubscribed many times over and scaled back substantially as based on the weeks price action its a 20% money for minimal risk as since the offering it hasnt really traded anywhere near offer price of $12.50 and the p.o.o. seems on a upward trajectory
 
They are very very close to making an announcement about signing sale contracts to buy the gas that will be produced when Gladstone comes on line.

I guess maybe June 17 is the "very very close date"???
 
rustyheela said:
i would expect it to be oversubscribed many times over and scaled back substantially as based on the weeks price action its a 20% money for minimal risk as since the offering it hasnt really traded anywhere near offer price of $12.50 and the p.o.o. seems on a upward trajectory
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Lots of investors sometimes never bother with rights issues, so I am hoping to get more than my allocation.

As you say it is free money, so you would expect it to be oversubscribed, but never underestimate stupidity.
 
Rights shares received in account today. Have sold some and suspect others have as STO tanking today
 
gooner said:
skyQuake

They were sitting in my online broking account so I traded them...........

No one told me not too - hope I did not break the law.
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Nah just that I noticed the same thing with MQG :confused:
The dates they give out is different to what happens... still trying to work out whats going on.
 
rustyheela said:
i would expect it to be oversubscribed many times over and scaled back substantially as based on the weeks price action its a 20% money for minimal risk as since the offering it hasnt really traded anywhere near offer price of $12.50 and the p.o.o. seems on a upward trajectory
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Rustyheela

Turns out you were wrong and the offer was undersubscribed. However, for some reason, Santos still scaled back shareholders and gave the shares to underwriters instead.

Surely some mistake?????:confused:
 
gooner said:
skyQuake

They were sitting in my online broking account so I traded them...........

No one told me not too - hope I did not break the law.
Click to expand...

Ok, looks like you sold your old shares today. The new ones are in your account, but probably not tradable.

Related to that, do you mind me asking when were you notified how many shares you have been allocated/scaled back?

Cheers
 

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