Why Smart Money Is Buying Energy Chaos (Saul Kavonic)

We continue our exploration of the energy space with today’s guest, Saul Kavonic. 

Saul covers the Australian energy sector as an analyst with MST Financial and has been a prolific commentator for a number of years with many high conviction calls. 

In this episode, he runs us through: 

• The macro landscape 

• The Woodside vs Santos debate 

• Which basins are the most exciting in Australia 

• Companies that have exciting exploration happening 

• How small-scale energy differs from mining juniors 

Stocks mentioned: WDS, STO, BPT, EXR, OMA, STX, CVN, EQU, BTL, AEL, TDO 

Follow Saul on:

X: ⁠https://x.com/saulkavonic?lang=en

This was recorded on 19.02.2026.

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TIMESTAMPS  

(00:00) Macro Oil and LNG Setup

(06:20) Australia Energy Policy and ESG Shift

(15:00) Sovereignty and Gas Demand Surge

(20:40) Santos Under the Hood

(32:40) Woodside LNG Price Leverage

(35:00) Perth Basin Strike and Hancock

(42:10) Beach Energy Deal or Drown

(45:50) Exploration Basins and Final Wrap

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