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.
There are pieces i of news that would help support a price rise....
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Last
0.3¢ |
Change
0.001(25.0%) |
Mkt cap ! $72.33M | |||
| Open | High | Low | Value | Volume |
| 0.2¢ | 0.3¢ | 0.2¢ | $5.009K | 2.249M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 47 | 96266624 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 600926597 | 231 |
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| Last trade - 15.56pm 23/08/2024 (20 minute delay) ? |
| 88E (ASX) Chart |