(MENAFN- ProactiveInvestors)
Australian stocks are down for their fourth straight session as banks and energy stocks pulled the All Ords down 19.5 points or 0.4% to 5423.5.
While the market remained in negative territory this Texas-focused oil and gas company drew such market attention.
() rose 14.29% to $0.008 with more than 2.7 million shares traded after the company completed design of the fracture stimulation of its Jack Howe-1H well in the Normangee oil project Texas.
This will exploit the Lower Woodbine target where 250 feet of net oil pay was recently intersected.
Success will give the company oil production and cash flow as well as providing the company with a model for replication across its Southern Woodbine lease position.
Shares in () also rose 14.29% to $0.008.
Recently it intersected sulphides with its recent diamond and reverse circulation drilling program at the Plumridge Nickel Project in the Fraser Range Western Australia.
() is up 11.11% to $0.01 while Redflow (ASX:RFX) rose 10% to $0.33.
Blue Chips
Major banks fell today after chief executive officer Gail Kelly announced her decision to retire.
Meanwhile the Energy Index fell 1.3% to 13228.3 as oil prices continued to fall.
Big 4 banks
ANZ Bank (ASX:ANZ) down 0.3% to $32.10
() down 0.7% to $81.31
() down 0.6% to $32.44
() down 1.1% to $32.98
Other banks financials and industrials
() down 1.6% to $5.71
() up 1.1% to $12.32
Bendigo and Adelaide Bank () up 0.6% to $12.70
() up 0.1% to $60.10
Suncorp () down 0.3% to $14.65
() up 0.2% to $5.79
Oil and Gas
Oil Search () down 2.0% to $8.36
() down 2.1% to $12.19
() down 0.3% to $40.13
Major miners
() up 0.3% to $33.31
() up 2.4% to $3.03
Newcrest () up 0.2% to $9.00
(ASX:RIO) up 0.5% to $59.73
Retailers
JB Hi-FI () down 0.1% to $15.64
() down 0.7% to $44.08
Woolworths () down 0.2% to $33.98
Proactive Investors Australia is the market leader in producing news articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia UK North America and Hong Kong / China.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.