The oil price decline stopped the recent appreciation in the share price in it's tracks. The price of oil is going back up, US$57.32 at present with a one year forecast of $74.61.
http://www.oil-price.net/?gclid=CP7TyuzyqYcCFQEQGAodPGTNeg
There are 2 wells in Texas, 3 in Yemen and Drakea in Perth Basin before Canning that would send the share price up ~ 50% on drilling success in any of the 3 regions. In all cases they are relatively close to existing infrastructure so development cost will be low and tie in to pipelines fast. Then in April there is Canning....it's hard to see it staying at these levels for too much longer, IMO but thats for the market to decide.
The oil price decline stopped the recent appreciation in the...
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Last
14.5¢ |
Change
-0.005(3.33%) |
Mkt cap ! $44.26M | |||
| Open | High | Low | Value | Volume |
| 14.5¢ | 15.0¢ | 14.5¢ | $92.68K | 639.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 425232 | 14.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 15.0¢ | 1966212 | 38 |
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| 5GN (ASX) Chart |