OIL STRIKE IN AUSTRALIA
SPECTACULAR RISE IN SANTOS SHARES (N.Z. Press Association—Copyright) ADELAIDE, January 23. The oil shares of Santos Company, Limited, boomed on the Adelaide and Sydney stock exchanges today, after Saturday’s report that crude oil had been found at the company’s bore at Wilkatana, 200 miles north of Adelaide. At Adelaide, the shares, which closed at 14s 9d on Friday, opened at 19s today. In 30 minutes they had risen to 28s. They slipped back to 24s 6d soon afterwards. The total vestibule turnover was about 12,000 shares. At Sydney, the shares rose 19s 6d to 30s. The company is planning an immediate enlargement of its field exploration.
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Press, Volume XCIII, Issue 27874, 24 January 1956, Page 15
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110OIL STRIKE IN AUSTRALIA Press, Volume XCIII, Issue 27874, 24 January 1956, Page 15
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