with the price of oil currently at $82.17 usd a barrel there couldn't be a better time for CIG to be at the start of an 11 well exploration campaign in the Kyrgyz Republice right in the heart of a major oil producing province.
With the results of the first well just over a week away CIG will run hard at any sign of oil, and with 2 wells completed every month there will be no shortage of news.
What is the real icing on the cake is this is just the begining this campaign and doesn't include the deeper higher impact wells included in the Santos JV.
CIG has just started to run and will be hard to stop once they start to release news of oil discoveries much like what is happening with CVN.
Yesterday was a consolidation day following a breakout from resistance, with the oil price on fire we may see some fireworks from CIG today as we get closer to the results fromt the first well.
oil surges above 82 dollars again
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Last
24.5¢ |
Change
-0.010(3.92%) |
Mkt cap ! $204.6M | |||
| Open | High | Low | Value | Volume |
| 25.5¢ | 25.5¢ | 23.0¢ | $121.7K | 511.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1200 | 24.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 24.5¢ | 49236 | 1 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| OIL (ASX) Chart |