Oil focus on Aust. market

Press, 21 April 1984, Page 23

Oil focus on Aust. market

NZPA Sydney Share prices drifted in dull trading on Australian stock exchanges this week as overseas investors withdrew from the market ahead of the Easter break. The release of Federal Government proposals for a three-tiered oil tax, from July 1, caused concern especially among partners in land-based oil fields. Partners in the Jackson Field, one of the most af-

fected, were sold off by investors on Thursday. Santos fell 12c to 690 and Claremont lost 7c to 180. On Tuesday, speculation based on rumours about the Eclipse One well in the Timor Sea, sparked price rises in the oil sector but these were reversed as speculators withdrew on Wednesday. After the market closed BHP Petroleum said the well was of no commercial significance. Partners in the well closed weaker ahead of that report, with Ampol down 25c at 425, Weeks Australia, 5c at 170 and Home Energy, 8c at 107. BHP Petroleum, operator of the Eclipse One well, closed 5c up at 1155. A 170 c a share partial take-over offer for Email saw the stock bid up to 175, and finish at 173. Large parcels of shares were traded in the construction group, John Holland,, and in S. A. Brewing, prompting take-over rumours. Alien’s Confectionery and Lifesavers announced merger plans, ending uncertainty about the future of Alien’s which was the subject of unsuccessful takeover bids last year. Also, during the week, Bushells returned to Australian stock exchange listing after six years with its major shareholder the Brooke Bond group floating off a minority holding. Trading will resume on Tuesday but will be closed again on Wednesday, Anzac Day. On Thursday, the all ordinaries index closed 0.1 points up at 759.3, the all industrials ended 0.1 up at 993.4 and the all resources was 0.2 higher at 573.4. During the half-day session, metals were mixed, with CRA steady at 610, MIM up 3c at 360, WMC down 2c at 428 and Bougainville off 3c at 265.

Media reports that Mitsui and Mitsubishi are planning to participate in the North West Shelf project as capital partners lifted Woodside 3c to 119. Banks were easier with ANZ down 4c at 566. Retailers firmed with Coles up 5c at 375. ICI rose 5c to 220 while Adelaide Steamship fell 5c to 470. Industrials.— ACI, 188; AGC, 275; AFL, 130; ANI, 265; ANZ, 566; APM, 202; ASCPrp, 100; AWA, 420; AdelStm, 470; Amatil, 351; Ampol, 175; Ariadne, 58; BHP, 1155; BellG, 530; Bond Corp, 131; Boral, 365; Borg-W, 260; Brambles, 284; Bundaberg, 280; BurnsP, 328; CIG, 265; CSR, 375; CUB, 420; C’maine, 468; Clyde, 172; CoalAU, 290; Coles, 375; Comalco, 312; Dunlop, 167; EZI, 574; Elders, 405; Email, 173; JFairfax, 480; Fibre, 400; GPT, 208; GUD, 190; GGotch, 310; JHardie, 340; Herald, 332; Hooker, 166; Humes, 145; ICI, 220; Impala, 148; IndEqu 550; Jennings, 155; Johns Pry, 305; DJones, 430; Kern, 76; LLease,

485; McPherson, 135; Monier, 165; Myer, 190; NZFP dd, 210; Nat-Aust, 355; Nat Cons, 140; News Corp, 1030; Nicholas, 280; Oakbridge, 100; PioneerC, 160; Pioneers, 112; QBE, 485; Reckitt, 263; Repco, 115; Rothmans, 870; Sleigh 139; HSmith, 385; Soul Pat, 890; Stockland, 148; TNT, 190; Taubmans, 180; Tooth, 520; Walton, 46; WfieldHl, 540; Westpac, 385; Woolworth, 238; Wormaid, 325. Mining.— Aberfoyle, 650; Ashton, 117; AustDev, 31; B’ville, 265; CNG, 600; CRA, 610; Carrßoyd, 119; Consßtle, 580; Cudgen, 200; ERA, 147; Emperor, 410; GMK, 1020; Gem, 6; GoldCopp, 36; Hillso, 34; MIM, 360; Mallina, 13; MetalsEx, 63; NorthßH, 275; PancontM, 135; Paringa, 90; Peko, 520; Placer, 1950; Poseidon, 480; QldCoal, 118; Queen Mar, 23; RGC, 360; Southland, 40; Tasminex, 70; WMC, 428; Woodsreef, 9.

Oils.— AOG, 108; AOD, 75; Beach, 46; Bridge, 290; Hartogen, 315; Magellan, 200; Magnet, 11; OilSerch, 24; Pancont, 27; Santos, 690; Vamgas, 350; Woodside, 119.