AUSTRALIA

Prosperous year for Stuart

STUART Petroleum has posted record revenues of $60.2 million for the 2007-08 year, up 55% over the previous year, and announced a major upgrade in potential recoverable oil in the Bazzard prospect, offshore Gippsland Basin.

Marija Stojkovic

The company said record revenues were driven by a 9% increase or 569,562 barrels of oil production for the year and higher average oil prices of $105.70 per barrel. Stuart also continued to benefit...

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