Oil attracts most interest

Press, 16 April 1980, Page 24

Oil attracts most interest

Oil stocks were in the limelight on Australian stock exchanges yesterday, and the markets defied slipping gold and base metal prices. Vamgats led the oils with a 40c gain to 360 c, and Santos, its partner in the Dullingari No. 4 well in South Australia, firmed 20C to 730 c. The show of confidence failed to rub off on Hartogen, which finished 10c down at 300 c as investors reassessed the company’s oil find in Queensland’s Surat Basin.

Bridge Oil firmed 10c to 275 c on news of promising gas flows from the Boxleigh gas field. Coal stocks were generally firmed on a Nippon Steel report that Japanese coal demand would

grow 20 per cent in the ndxt.i five yearn. Investors greeted news, that Pancontinental would enter the oil exploration field as part of a S3OM exploration programme by paying 20c a share less at 550 c. BHP, which has been trading in a 15c range for most of the month, lost 10c to 1190 c. The industrial sector generally languished on interest rate concerns. Continuing light turnover and an almost total lack of overseas interest reduced the prospects of a full-scale rally but there is a widely held professional opinion that gold is due for a big comeback. Industrial.—Amatil, 208; ACI,

200: AGO, 140; Acmil, 88; Ampol, 1100; ANI. 240; ANZ, 425; APM, 159; Assoc. Pulp, 180; ARC, 150; Ansett, 240; Advertiser, 162; I AW A, 310; Bundaberg, 260; BHP, 1190; BMI, 143; Bank NSW, 292; Boral, 232; Burn P„ 225; Borg W., 235; Carp. (W. R.)J 168; CBA, 272; CBC, 275; CIG, 330; Clyde, 255; Comalco, 475; C’maine P., 300; Coal All., 990; Coles (G. J.), 181; CSR. 514; Com. Union. 110; CUB, 180; Dunlop, 78; Elders, 265; EMI, 108; EZI, 608; Fairfax, 142; Fiji, 250; Gen. Trust, 150; GUD, 200; Hardie, 380; Hooker, 100; Humes, 125; Hbrald, 228; ICI, 230; Ind. Equity, 240; Jones (D.), 127; Jones (H.), 160; Lend Lease, 335; LNC. 180; Lifesavers, 235- Mayne Nick., 175; McPhersons, 132; MLC. 610; Monier, 170: Morris (P.), 460; Mauri, 84; Myer, 161; Nat Bank, 241: Nat. Cons., 130; News, 210; Nylex, 102; N.Z. Forest. 230; Oakbridge, 320; Olympic. 99: Overseas. 102; Pioneer Cone., 187; Pioneer Sugar, 295; Petersville, 122; Repco, 101; Rocla, 90; Rothmans, 245; Sth British, 245; Sleigh, 107;

Smith (H.), 750; Soul (W. H.l, 670; Taubmans. $5; TNT, 225; Tooths, 204; Union Carbide, 260; Walton, 56; Wwths, 147; Wormaid, 315. Mining.—Aberfoyle, 580; Aust. Dev., 90; Allstate, 125; Ashton, 228; Assoc. Min., 255; BH Sth, 410; Bougainville, 335; Cons. Gold, 570; Cent. Norse., 580; CRA. 490; Carr Boyd, 42; Emperor, 148; Gem Ex., 58; Gold Mines Kalg., 420; Gold Copper, 105; Hamersley, 370; Hill 50 Gold. 53; Kath. Inv., 520; Mid East, 18; Metals Ex., 120; MIM. 410; MKU, 90; Mt Lyell, 150; Nth BH, 290; Nth Flinders, 130; Pancont., 530; Peko, 720; Paringa, 85: Poseidon, 220; Qld Mines, 570; Queen Margaret, 29; Renison, 1600; Robe River. 105: Southland, 35; Utah, 415; Woodsreef. 40; WMC, 398; Westralian, 23. OiI.—AAR, 532; Ampol Ex., 135; AOD, 43; AOG. 130; Beach, 105- Bridge, 275; Hartogen, 300; Magellan, 320; Oil Search, 22; South Pacific, 1400; Santos, 718; Stirling opts, 10; Timor, 14; Vamgas, 360; Woodside, 192.