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STO, SANTOS LIMITED
blacksheep
post Posted: Apr 3 2018, 10:42 AM
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Posts: 3,883
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In Reply To: blacksheep's post @ Apr 2 2018, 10:19 PM

Receipt of unsolicited, non-binding, indicative and conditional
proposal from Harbour Energy and granting of due diligence


QUOTE
Santos advises that on 29 March 2018 it received an unsolicited, non-binding, indicative and
conditional proposal (“Harbour Proposal”) from a special purpose entity of Harbour Energy
Ltd (“Harbour”) for it to acquire 100 per cent of Santos shares by way of a scheme of
arrangement.

The indicative offer price is US$4.98 per share, which in Australian dollars, is equivalent to
A$6.501 per share and represents a premium of:

+ 28 per cent to the last closing price of Santos of A$5.07 per share on 29 March 2018;
and
+ 30 per cent to the one month volume weighted average share price of Santos of A$5.00

per share up to 29 March 2018.

The indicative offer price is comprised of the following components:
+ A cash offer price of US$4.70 per share (equivalent to A$6.131 per share); plus
+ A special dividend of US$0.28 per share (equivalent to A$0.371 per share) which is
]expected to be fully franked2

.



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Apr 2 2018, 10:19 PM
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Posts: 3,883
Thanks: 1788


Another T/O rumour -
QUOTE
Street Talk understands the two parties have been in talks across the Easter long weekend, after Harbour Energy approached Santos with an all-cash proposal late last week.

Santos shares last closed at $5.07, valuing the company's equity at $10.6 billion.

It's understood Harbour Energy's indicative offer was at a premium to the last close.


Read more: http://www.afr.com/street-talk/harbour-ene...b#ixzz5BW6lhYji

Attached thumbnail(s)
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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 23 2017, 09:05 AM
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Posts: 3,883
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Looks to open higher this morning. This could be reason

QUOTE
A bump in oil prices are likely to affect Origin Energy, Oil Search, Santos, Woodside Petroleum




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 20 2017, 10:41 AM
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Posts: 3,883
Thanks: 1788


In Reply To: blacksheep's post @ Nov 17 2017, 11:01 AM

Four questions Santos investors should ask themselves - according to AFR/UBS

QUOTE
The broker said investors should ask themselves four questions - and their answers may well decide Santos suitor Harbour Energy's next move. The questions included:

1) would the reported proposed offer of $5.30/sh represent a fair takeover premium (21% above the closing price prior to disclosure)?

2) Could the article encourage other potentially interested parties to bid?

3) Could Harbour vary its offer above or below the reported $5.30/sh?

4) What is the probability that no bid eventuates, leading to a decline in the share price? Our assessment is that Harbour's reported approach is credible and could lead to a formal offer, but investor reaction to the offer price over the coming days will likely determine the next steps.

Read more: http://www.afr.com/street-talk#ixzz4yvaLZVh4

Notable short sales alert last Thursday
Fri 17th Nov, 2017 5,627,709 2,082,911,041 0.27% 19,898,335 28.28%
Thu 16th Nov, 2017 11,270,145 2,082,911,041 0.54% 35,975,346 31.33%
https://www.shortman.com.au/stock?q=STO

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 17 2017, 11:01 AM
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In Reply To: nipper's post @ Nov 17 2017, 02:32 AM

from The Age

QUOTE
A bid for Santos may trigger counteroffers for the oil and gas producer that has stakes in some of the world's cheapest liquefied natural gas.

The Adelaide-based company surged the most in a year after saying it received and rejected a $9.5 billion takeover approach from Harbour Energy led by former RoyalDutch Shell executive Linda Cook.

Harbour is preparing to make another cash offer of about $5.30 a share within weeks,the AFR reported, without citing sources.

"An opening offer is rarely the best or last action andcould also awaken any number of interested parties from a slumber - think Woodside Petroleum for starters," according to a research note from Morningstar.

A potential bid from Harbour may also flush out a rival offer from Santos' largest shareholders, ENN Group and Hony Capital, Evans & Partners analyst Andrew Hines wrote in a note Thursday.

ENN and Hony hold about a 15 per cent stake in Santos and in June agreed to coordinate investments with the Australian explorer in upstream gas and LNG production.

Santos rejected the non-binding proposal received in August from Harbour because the price of $4.55 a share "was inadequate and funding was uncertain," CEO Kevin Gallagher said.

Harbour is a joint venture between embattled commodity trader Noble Group and resources investment house EIG Global Partners.

"If a credible bid is presented" then "other potential future Santos acquirers, such as existing shareholder ENN, could consider avenues to enter the fray," Wood Mackenzie analyst Saul Kavonic said.

Santos shares are up 1.8 per cent this morning at $5.04.

Attached Image





--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Nov 17 2017, 02:32 AM
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Posts: 4,677
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In Reply To: blacksheep's post @ Nov 16 2017, 10:42 PM

Is this the state with a restriction on drilling and most things hydrocarbon in their energy policy? Just a whiff of socialism/ paternalism.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 


blacksheep
post Posted: Nov 16 2017, 10:42 PM
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In Reply To: nipper's post @ Nov 16 2017, 07:40 AM

Seems SA are not amused at the prospect

QUOTE
US player Harbour Energy's ambitions for an $11 billion acquisition of Santos have run into political hot water as South Australian Treasurer Tom Koutsantonis signalled the state would seek to prevent a foreign takeover


Read more: http://www.afr.com/#ixzz4yb8HIsf0




--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
nipper
post Posted: Nov 16 2017, 07:40 AM
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Posts: 4,677
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Is Santos in play? There are reports that a US consortium has made an approach to the board - $5.30, all cash.

Money is still cheap.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
early birds
post Posted: Sep 27 2017, 10:30 AM
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i took the profit today

don't have any on hand. still think it is longer term value play.

i will wait under 4 bucks again, if not then i will miss the punt.



 
nipper
post Posted: Sep 4 2017, 05:07 PM
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Posts: 4,677
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QUOTE
Ethylene, a colourless, flammable gas is arguably the most important petrochemical on the planet -- and much of it comes from the hurricane-stricken Gulf Coast. Ethylene is one of the big reasons the damage wrought by Hurricane Harvey in the chemical communities along the Gulf of Mexico is likely to ripple through U.S. manufacturing of essential items from milk jugs to mattresses.

"Ethylene really is the major petrochemical that impacts the entire industry," said Chirag Kothari, an analyst at consultant Nexant.

Texas alone produces nearly three-quarters of the country's supply of one of the most basic chemical building blocks. Ethylene is the foundation for making plastics essential to U.S. consumer and industrial goods, feeding into car parts used by Detroit and diapers sold by Wal-Mart Stores Inc.

With Harvey's floods shutting down almost all the state's plants, 61 percent of U.S. ethylene capacity has been closed, according to PetroChemWire. Production may not return to pre-storm levels until November, according to Jefferies.
https://www.bloomberg.com/news/articles/201...odity-by-harvey

only part of the business, but STO likely to benefit? from Ethylene supply chain disruption. Australia's only supplier is Qenos. EPX used to be the ASX listed dedicated pipeline; now owned by APA

QUOTE
Qenos Botany - Ethane feedstock supplied by Santos via dedicated 1375km pipeline from Moomba to Qenos Botany Bay - supply contract extended beyond 2015

Qenos Altona: Ethane feedstock supplied from Bass Strait via Longford and Long Island Point processing plants. LPG supplied from ExxonMobil Altona Refinery




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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne

Said 'Thanks' for this post: early birds  
 
 


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