Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Energy stocks power ahead of the ASX  Join our daily free Newsletter

MENAFN - ProactiveInvestors - Australia - 20/11/2012

No. of Ratings : 0
Add to Mixx!


 


The All Ords spiked early today on news of constructive negotiations between U.S. President Barack Obama and U.S. congressional leaders on addressing the fiscal cliff. While the All Ords moderated later in the day, it still closed up 0.52% to 4,382.6 points.
(MENAFN - ProactiveInvestors - Australia) Energy stocks led the way on the Australian market which rose today on the back of positive leads out of the U.S. over the weekend.

President Barack Obama and congressional leaders had carried out constructive negotiations aimed at addressing the fiscal cliff " the tax hikes and spending cuts that will automatically come into force on January 1 if no agreement is made on a long-term deficit reduction plan.

The All Ords was up 22.5 points, or 0.52% to 4,382.6 points while the benchmark S&P/ASX 200 was up 24.6 points, or 0.57%, to 4,361.4 points.

Amid this, the S&P/ASX 200 Energy index closed up 2.3% to 11,998.6 points, outpacing all other indices.

Aquila Resources (ASX: AQA) was up 0.23, or 10.7%, to 2.38 while Aurora Oil & Gas (ASX: AUT) closed 0.03 higher to 3.59.

AWE Limited (ASX: AWE) closed at 1.35, up 2.27%.

Beach Petroleum (ASX: BPT) gained 0.04 to 1.40 after its Bauer-9 well confirmed a north western extension to the Bauer oil field in the Cooper Basin.

The well is also another step towards confirming that the Bauer and Bauer North oil fields are part of a common larger oil pool.

Confirmation of this will likely result in a large upgrade to oil reserves in the field, which partner Drillsearch Energy (ASX: DLS) had last week upgraded by 22% to 8.2 million barrels of proved and probable oil.

Buru Energy (ASX: BRU) continues to gain on the discovery of oil shows at its Ungani North-1 well in the Canning Basin. Shares in the company were up 0.18, or 6.12%, to 3.12.

Karoon Gas (ASX: KAR) closed at 4.95, up 1.85%, while Origin Energy (ASX: ORG) put on 0.41 to close at 10.25 after confirming that all conditions for its US8.5 billion project finance facility had been satisfied.

This provides funding for the downstream parts of the Australia Pacific liquefied natural gas project.

Santos (ASX: STO) gained 0.42 to 11.30 after finding gas at its Crown-1 exploration well in the Browse Basin off Western Australia.

Wireline logging to date has confirmed 61 metres of net gas pay in the Montara, Plover and Malita reservoirs between 4,873 and 4,998 metres. No gas-water contact was intersected.

Crown-1 is located about 500 kilometrs north of Broome, about 60 kilometres west of Inpex/Total's Ichthys field and 20 kilometres east of the Poseidon field.

 






  MENA News Headlines


 
Live Currency Rates






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help