Coal, oil shares rise
Selected coal, shares and those associated with an oil show in Queensland stood out in otherwise cautious trading on the Australian share.market. Santos led the oils with a 50c gain to $17.50' after news that the Naccowlah No. 1 well had encountered more oil traces.
Ampol Exploration, a partner in the venture, put on 15c to 285 c, helped by a strong profit result from Ampol Petroleum. Mining issues were mixed, but closed mostly off- their lows with W.M.C. down 6c at 620 c, M.I.M. up 2c at 508 c, C.R.A. 2c weaker at 616 c, Nth BH firm at 410 c, Panconeintental 70c lower at $11.20 and Peko 30c down at $11.60.
Among the coals, ForestIwood put on 20c’ to 480 c, Coal and Allied added 20c to •;512.20. Oakbridge finned 18c ito 240 c, and Howard Smith gained 10c to 830 c.
i Central Pacific fell 50c to. Islo.oo and Southern Pacific; eased 10c to 365 c after the . announcement that the part*' tiers had acquired interests*
lin new oil shale areas in? !Queensland and Kentucky. ; I Industrial stocks were also ■ jin a drift, with B.H.P. down; 10c at $16.75 and C.S.RJ steady at 740 c. Interest continued to build? around rumoured takeover: share, Tooth and Co, with!
} more than 500,000 shares ■traded between 250 c and ' 260 c. i Golds were mixed despite ia stronger price in New ■ York. Centra! Norseman eased 20c to $ll.OO. Emperor 'shed 10c to 550 c, and Posew l don, gained 10c to 700 c.
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Press, 27 November 1980, Page 24
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257Coal, oil shares rise Press, 27 November 1980, Page 24
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