Hi edd111111, I agree with your observation that AWE sp should...

Hi edd111111, I agree with your observation that AWE sp should almost be joined at the hip to POO [price of oil] but I trust you realise the Market does not concur, as POO has risen of late and AWE's sp has not.
The actual value of a stock is its sp on any given day, hey! .
There are many other variables which apply, a major one is that the sp of a company reflects the future performance of that company and so therefore in this case, where POO might be headed next.
And of course a producing Oiler must be an Explorer as well in order to replace Oil & Gas Reserves. Which me leads to questions like/:
Is there going to be another 100year storm like Cyclone Katrina in the Gulf of Mex. during this cyclone season?
And is there a build up oil stockpiles occurring in North America at the moment?
And of course the big drilling program about to kick in for AWE might have a major impact as it involves 3 Permits and big targets in Bass Basin off Tasmania and Taranaki Basin NZ {the Hoki oil prospect & more Tui Field wells].
So the delay to semi-submersible rig, Kan Tan IV, in its refitting and preparing for the T/18-P Bass basin drill program is partly responsible too, as this is the main AWE news this week.
I rode passed it at a Corio Bay dockyard today
The rear crane is off the rig, and away for repairs I guess. The rear crane boom was damaged too in the incident, the ann' said. Three cranes sit atop the platform when she is in working trim.
Top pics of 103m tall KanTanIV at Lascelles Wharf, here:
http://www.flickr.com/photos/87791108@N00/3774006981/
picture is dated 31/07/09
Also a 2002 pic of 'KanTan' aboard a transporter from UK:
http://www.oilrig-photos.com/picture/number578.asp

Also from NZPA- The New Zealand Press Association- last night
Damage to Chinese rig may delay NZ drilling campaign
Tuesday August 4, 08:29 PM
Damage to a crane on a Chinese-owned semi-submersible drilling rig, Kan Tan IV, may cause a delay to its planned campaign drilling off the NZ coast.

Kan Tan IV was due to begin a 560-day programme off Australia and New Zealand for Origin Energy and four other drilling consortium members -- Australian Worldwide Exploration (AWE), Roc Oil, Nexus Energy and Tap Oil.

The rig was being prepared at Geelong, near Melbourne, for some preliminary drilling off Tasmania when it sustained damage to the aft crane and the crane boom.

This means the sailing date for the 1983-built, ABS-classed rig will be delayed by up to one month.

Origin Energy has said its plans to use the rig off south-east Australia -- before its NZ drilling dates -- will be postponed to early September.

Origin has chartered Kan Tan IV to drill the Trefoil 2 and Rockhopper 1 wells near the Yolla platform in Bass Basin permit T/18P.

In New Zealand, Oil & Gas wants to take over 10 percent of OMV New Zealand's interest in Taranaki basin permit PEP 38401 -- which lies about 150km north-west of New Plymouth -- and has agreed to pay for Kan Tan to drill a $10 million Hoki-1 exploration well.

Subject to approval from the other partners and Crown Minerals, OMV will hold a 21.25 percent stake in the joint venture after the farm-in is complete. Other participants in PEP 38401 include AWE with 50 percent and Todd Petroleum with 18.75 percent.

The Hoki-1 well will test both the primary Island Sandstone reservoir and a secondary target in the North Cape formation.

After completing Hoki-1, Kan Tan 4 is scheduled to move to the nearby Tui permit area, where it will drill at least two prospects close to the producing Tui oil fields