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STO - SANTOS LIMITED


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Santos is really going well over last couple of days. Check out the chart action for yesterday, closing on high, crossing MA. The stock has continued to rise another .635% so far today. The volume is nothing out of this world though.

 

Does anyone have any information? Hot Copper doesn't have any chat on the topic, so maybe we can get some thoughts flying around here.

 

Regards

Andrew

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  • 2 weeks later...

Yes Santos is going well on the chart influxweb, resistant line at approx. 6.36 which was broken and holding over and good day today, so good sign for further good activity. have you been watching it since your last post?

 

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  • 1 month later...

I have my eye on this, but no information. Chart only says new high and strong movement, cannot fault it technically except that perhaps it will hit resistance now and fade back. HOWEVER, it also might move on to new surges. I'd say a lot of people have their eye on this looking for the real breakout say at $7.30 + ...

 

good luck all

 

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Hey there O, surprised where you pop up. Been in for a while basically on oil fundamentals (and yield in case it goes guts up.) I'd like another 10 or 15 % yet.Getting close to all time highs, 7.00 to 7.40 or so seems like a big bump in the road.

Happy for ~ 8 bucks for a sell.

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yeah, I can't be bothered posting most of the time especially if I haven't got anything to add other than technicals ie insight on developments with the company. Not often you get a breakout from a long, looong term high like this though, very interesting, wouldn't be surprised if there was a story behind it apart from just oil prices etc.. maybe something is going on behind the scenes. Nothing would surprise me

 

don't sell until the sell indicators kick in

 

don't sell just because it hits a "target" - your target might be too short

 

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Hmmm, does the SA gov't still limit any single shareholder to 15% in STO? I think this was a legacy / grandfathered clause from years ago http://www.ShareScene.com/html/emoticons/icon14.gif

Memory a bit dim. http://www.ShareScene.com/html/emoticons/unsure.gif

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back a bit at the moment but nothing to worry about I think, certainly not a time to sell - yet - unless you are trading the weekly swings.

 

no idea about 15% clauses

 

i am just watching the chart, can't find any significant downward pointing indicators

 

and i wonder what the story is (that we prob. won't know for months)

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Not the weekily swings.Been in for while ~ 6.30 or so.

Just did some browsing and found an old article.I think this has driven the price previously with the rumoured lifting of the limit.

Who knows what the story is now? ( apart from the 'poo' ) but I like it.

 

"The 15% cap on shareholding was put in place in 1979 when Alan Bond was rumoured to be about to make a bid to take over the company. It was the time of the Second Oil Shock when the oil price increased fourfold overnight. It was a time when natural gas was a scarce resource and the Cooper Basin's reserves were seen as limited. Perhaps justifiably at that time the South Australian Government was genuinely concerned to maintain gas supply to the state."

 

And this from The Age in May 2004......

 

Expectations that Santos will release details at its annual meeting in Adelaide today on cost-cutting initiatives, as well as forecast record production levels in 2005, sent the group's shares sharply higher yesterday.

 

The shares skipped 15ÃÆâ€â„¢ÃƒÆ’ƒâ€Â ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒ¢Ã¢â‚¬Å¾Ã‚¢ÃƒÆ’ƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’‚¡ÃƒÆ’Æâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚¢, or 2.3 per cent, to $6.64 in what was an otherwise weak day for oil and gas stocks. The price rise took the stock's gain since its early May low of $5.90 to more than 12.5 per cent.

 

Fuelling the gains has been market acceptance that the worst of the production problems caused by the New Year's Day fire at the Moomba processing plant in South Australia's north are now behind the company.

 

There is also renewed interest in the potential for the South Australian Government to lift the 15 per cent shareholding restriction in the company, a throwback to the days when Alan Bond was stalking the company.

 

Santos itself has long said the shareholding restriction is not in the best interests of its shareholders but that the decision, in the end, was one for the government. Removal of the restriction would introduce a takeover premium to the share price.

 

 

 

 

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