We had a rise today, ok it only ended up half a cent but that's...

We had a rise today, ok it only ended up half a cent but that's better than a slap in the face with an oily rag. Things can change quickly, Al Magrabah is in a prolific oil zone, if it's a commercial discovery, it's likely to be reasonably large.

Canning drilling not far off, it's bound to move it up.

Others of quality to look at spreading some risk are AZA, BPT, CVN, NXS and perhaps AED & PSA on further weakness. Despite the rise in energy stocks it's only been line with the price of oil so far. This is misleading as the last $10 of the increase goes straight to the bottom line before tax. There are some real quality buys around, cashed up co's with oil in the ground with no premium attached. If oil was any other commodity the prices would be through the roof.