Demand for oils continues
Oil and gas shares continued on the upswing on the Australian sharemarket yesterday but most Canning Basin issues failed to participate after a disappointing report from Blina No. 1. Vamgas, the only Australian member of the Blina consortium, finished the day 60c down at ?13.60 after dropping to a low of $12.80 on news that drill stem tests at the well had recovered only mud and salt water. - Vamgas has traded as high as $15.10 since reporting on oil flow of 905 barrels per day at the well last week. Investor interest yesterday appeared centred on stocks associated with the oil and gas hunt in the Amadeus Basin in Central Australia. Moonie led the Amadeus issues with a rise of 350 c to $14.50; Magellan added 80c to 950 c, Amadeus firmed 20c to 230 c and Transoil put on 14c to 174 c.
An upturn in gold prices to the $4BO level helped under-
pin the mining boards, but overseas buyers continued to keep their distance. Elsewhere, BHP gained 15c to $14.85, CSR was 4c off
at 640 c, MIM was 10c higher at 500 c, WMC held at 560 c, Peko was unchanged.at 940 c, and Bougainville scored a cent to 175 c.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19810530.2.105.13
Bibliographic details
Press, 30 May 1981, Page 18
Word Count
209Demand for oils continues Press, 30 May 1981, Page 18
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.