euroz still likes aut , $5.20, page-22

The market is brushing off the Slovakian vote - the bail-out fund will be ratified by the end of the week. Behind the scenes, the opposition used the vote as an opportunity to knife the coalition. They, apparently, support the bail-out fund so the next vote should see it ratified.

WTI has risen, which is putting more money into AUT's coffers. There's still a damper on the market but also a bit of a cautious reversal. The Armageddon feared looks less likely to happen. It must be frustrating for the BoD to lose performance rights because of the general market depression.

On the positive side, the met boys are suggesting another northern hemisphere winter like last year and the UK government is taking them seriously enough to spend money on equipment and salt stocks to keep the country moving. The US suffered a big freeze also. That could be good for local O&G prices.

One way or another, we may have seen the worst of the dip. Once MRO takes up the reins, we should see a build up of the news flow also. The sheer quality of AUT's asset should carry it up in any recovery of the market. No exploration risk and much of the acreage proved up.