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STX - STRIKE ENERGY LIMITED


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In reply to: afroboy on Thursday 11/05/06 06:58pm

It was the annual APPEA (Australia Petroleum Production & Exploration Association) conference. Sorry but it ended last night. Next year it will be held in Adelaide, I think in April. I am hoping to go next year. Family committments kept me away this year. Last year in Perth was very good. Great source of information. Everyone is keen to talk at conferences. The ASEG is another one that is very worthwhile.

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In reply to: bello on Friday 12/05/06 12:55pm

Bello,

Technically the retrace should have halted at 32c there is historical support here as well as representing the full Fibonacci retracement. It appears to have bounced off 32.

Fundamentally the stock should rise.

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drilling results soon, great drilling program ahead but this share is getting sold down like no other......................................... http://www.sharescene.com/html/emoticons/rolleyes.gif
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In reply to: MOUSE on Tuesday 16/05/06 10:52am

it is a case of rights issue blues. As soon as any share price approaches its right issue price, then seem to be an acceleration of selling in a 'get out while I can and still make a little money' phase.

 

It happened with SBS a few weeks back and was a great buyign opportunity. The share price soon bounced back once the weaker sellers had gone. Let's hope same happens to STX. Still think the big outflows in the qrtly report was the catalyst for the leg down on STX.

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STX as you know is making money.

Correct if I'm wrong, but at median $24,000 per day revenue (as announced today) or $8.76 million pa, and only 220 million shares on issue, that is a EPS of 4 cents and a PE of 7.

I am not the best at math so please inform me if I am wrong.

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