hitting new highs on big volume

AMU is hitting new highs today. Last sale was at 83 cents, on significant volume of 1.28 million shares.

Plenty of reasons why the stock might be finding favour with the market:
1. Recent record NPAT in the half-yearly pointing to a bumper full year profit
2. Spate of recent oil and gas well successes on Raccoon Bend point to a big jump in production from this ground
3. Ditto from successes in Lavaca County, with Byczynski #1 especially pointing to potentially monster gas flow rates
4. A forward drill program that will see over 30 wells drilled over the balance of 2005
5. Imminent spudding of the exciting South Gross Tete prospect
6. Imminent IPO for their biodiesel offshoot (with preference going to AMU holders).

Expect the share price to move even higher as production test results of the recent successes are announced.

One for the long haul.

(I hold and am biased – DYOR)