There are pieces i of news that would help support a price rise. one is macro and two are more micro.
1/ POO is climbing close to 64$
2/ Oil search has set a benchmark price for NS Conventional crude in the area of the NS that they operate. This is a PROVEN area. Repsol/Armstrong proved this area up with 18 wild cat drills all of which ended with GUSHER.
3/ Chinese look like they want to build a GAS TAPS, sign off in 2018, production by 2024
The only surprising thing would be if there was no forward momentum in O & G stocks.
88e news is due shortly and will probably focus on Conventional maturation.
ASX Today, page-10108
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