Energy shares in demand

Press, 21 June 1980, Page 18

Energy shares in demand

The start-up of drilling on oil shale leases in north Queensland, and a price rise for gas, signalled a return to boom level trading in energy stocks on Australian stock exchanges yesterday. Most major oil shale stocks finished at record highs after buying sparked by news that drilling had begun at the Lowmead and Nagoorin deposits.Heavy overseas buying pushed Greenvale 70c higher to 210 c, Central Pacific added 400 c at 565, Southern Pacific firmed 150 c to $24.50, and ‘Esperance closed 55c stronger at 310 c. ; Buyers, ■ cheered by a 13 per cent rise granted to Cooper Basin gas producers, supplying Adelaide, pushed Santos 60c higher to $13.70 — and a wide range of coal and uranium stocks follow’ed suit. Peko highlighted a stronger solid fuel Sector with a

n'34c rise to’ 760 c after news a plans to join the Japanese ; e' Marubeni Corporation in a □ ’study of the Wallamine coal y deposit, near Newcastle. | It An announcement from : London that British Petro-; e leum had. approached Selec-p d-tion Trust with a take-over:] dj offer pushed the local sub-i disidiary, Seitrust, 55c higher' d to 380 c. iI The demand for coaL; glstocks which began earlierp r.in the week continued;!’ c’Meekatharra rose another;: n*2sc to a record 500 c. Specu-J viators are. anticipating the'' dj announcement of the com-’] Jpany’s involvement in a'3i major coal project in West- 1 □iern N.S.W. I, Elsewhere on the mining | t 1 boards, Western Mining fin-ji ) ished 13c higher at 498 c on’ 1 news of plans to re-open thep i Win-dara nickel mine inn ;Western Australia in a. joint!’ -iventure with Shell. i; i Industrial stocks were;

generally firm; BHP managed only a 5c run tc $14.85. However, James, Hardie Industries resumed its spiral and finished 15c up at 445 c ■ in response to a 25.6 pei icent rise in consolidated I profit for the year. I Industrials.—Amatil, 198; ACI, >198; Aust. Fert., 140; AGC, 137; jAcmil, 85; Ampol, 130; ANI, 270; ANZ, 452; APM, 186; Assoc. Pulp, >230; ARC, 145; Ansett, 225; Adivertlser, 158; AWA, 308; Bunds!berg. 320; BHP, 1485; Brambles, ,220: BMI 173; NSW, 283: Boral, '259; Burns P., 230: Borg W., 250; Carp., W. R.. 175; CBA, 280; CBC, 283; Clyde. 325; Comalco, 600: Coal All., 170;. Coles, 192; ICSR, 674; Containers, 285: CUB, 186; Dunlop 76; Elders, 305; Email. 135: EZI. 660; Fairfax, 155; Fiji, 254; Forestwood, 350; I Gen. Prop. Trust, 148; GUD. 136; J. Hardie. 450; Hooker, 97; HaniImex, 123; Humes, 150; Herald, 223; ICI, 230; Ind. Equity, 315; ’Jennings, 86; D. Jones, 132; LNC. 166; Lifesavers, 240; Mayne Nick., 200: ’ McPherson, 143; MLC, 660: Monter, 170- P. Morris, 465; Mauri. 81: Myer, 167; Nat. Bank. 255: Nat. Cona., ISO: News Corp., 270 s Nylex, 124; NZ Forest. 265;

i-INZ Ins, 235; Oakbridge, 425; Joiims, 43; Olympics, 146; Over--0 seas, 140; Pioneer Cone., 209; I Pioneer Sugar. 330; Protector, e 235; Petersville, 127; Qbe Ins., ,i:185; Repco, 97; Rocla, 82; Roth--1 mans, 235; Sleigh, 144; H. Smith, 0 826; Soul, 700; Swan, 176; TaubImans, 110; TNT, 236; Tooths, 178 ; rf'Union Carbide. 285; Waltons, 67; IWwths, 147; Wormaid, 345. , Mining.—Aberfoyle. 730; Aust. Sl Dev., 130; Ashton, 269; Assoc. Ji Min., 260; BH Sth, 420; Bougain- ■ ville, 235; Cons. Gold, 660; Cent. > Norse., 930; CRA. 550: Carr Boyd, !' 66; Cons. Rutile. 460; Cudgen, 145; Emperor, 200; Gem Expl., ?> 70; GM Kalg., 730: Gold Copper, , 136; Hamersley. 410; Hill 50 Gold, >:69- Kath. Inv.. 590; Metals .Ex., ■ 115- MDI. 450: MKU. 77; Nth BH, |i|3so: Nth Flinders, 160; Pancont., ;’1690; Placer 1300: Peko. 760; JlParinga 125; Poseidon. 359;> Qld ’> Vines, 726: Queen Marg.. 41; J Renison. 1750; Robe River, 125; !’ Southland, 33: Tasminex, 58; !« Utah. 435; WMC, 495; Westrallan, l: 24 - • ; i; oils.—AAß, 750: Amp01ex.,,255; !. AOD, 81: AOG, 214; Beach,>l7B; ~ Bridge, 390; Hartogen, 425; Longbreach 32: Magellan, 520; Oil >; I Search. 30: Sth Pae., 2245; SantOS, 1350; Stirling 36 and opts. ~[9O; Timor, 21; Vamgaa, .‘-820; ; Woodside, 314.