more upside i'd say with future discoveries

Oil price no crisis for some
By ANTHONY BLACK
03oct04

MOTORISTS may not like paying more than $1 a litre for petrol, but record crude-oil prices have been kind to some investors.

And opportunities to make money still exist, according to analysts.
The New York Mercantile Exchange's light sweet crude oil November futures contract breached $US50 a barrel yesterday and related stocks are posting healthy price gains.
The universal barrel measure is equivalent to 159 litres.
The price of crude has risen from $US29.24 on October 31 last year. It finished yesterday at $US50.12. The price of crude this year has risen against Middle-East tension and worries about supply. And troubled Russian oil company Yukos cut production, unrest in Nigeria and hurricanes in Central America and the US have affected supplies.
price could fall to $US40 or less.
Sharemarket analyst Mike Kendall, of Goldman Sachs JBWere, said: "The million-dollar question is whether the crude oil price will move up or retreat."
Mr Kendall said the share price of oil stocks had risen on the back of higher crude prices.
OIL WINNERS
Hardman Resources has risen from 96c on New Year's Eve to $2.15 at Friday's close. Woodside Petroleum has put on more than $4.50 a share in the same period to be at $19.39.
BHP Billiton has gone from $12.19 to $14.28; Australian Worldwide Exploration has risen from $1.20 to be $1.85; Roc Oil has put on 28c a share to $1.81; Santos has crept from $6.87 to $7.24.
Mr Kendall said promising drilling results off the west coast of Africa had contributed to rising share prices of Hardman Resources, Woodside Petroleum and Roc Oil.
"The market is expecting more oil, so it has priced in a high probability of success," he said.
And so are we!!!!!!!!!!!!!!!!!!!!!!!!!! cheers notthemama