NEW OIL STRIKE
AAO. Flow At Richmond (N.Z. Press Assn.—Copyright) SYDNEY, August 26. High gravity light oil flowed from the Australian Associated Oilfields Richmond No. 1 well on Friday night. The well is about 100 miles north-west of Moonie, in Queensland. Oil industry officials now await the results of production tests to be carried out later this week. These tests may indicate whether Queensland has a second commercial field. Associated Australian shares opened at 23s in Sydney today and quickly rose to 27s 6d. They closed last Friday at 15s 9d. The Brisbane Stock Exchange’s Queensland oil index rose 17 per cent today —from 181.87 to 213.42.
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Bibliographic details
Press, Volume CII, Issue 30220, 27 August 1963, Page 19
Word Count
107NEW OIL STRIKE Press, Volume CII, Issue 30220, 27 August 1963, Page 19
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