DRILLING

Not a good day for Perth Basin oil stocks

Despite operations starting for a production test at the promising Cliff Head oil discovery, it w...

Norwest shares fell 0.5c to 10.5c, Arc Energy fell 3c to 66c, Bounty Oil was down 0.5c to 12c, Voyager Energy lost 1c to 26.5c. Hardman Resources slipped 1c to finish at 59c while Australian Worldwide Exploration was unchanged at $1. Tap Oil shares fell 2c to $1.38 despite informing the market it intends to complete the Double Island and Woollybutt oilfield developments next quarter.

Going against the trend was Amity Oil, which saw its share price jump 3c to 80c, an eight-month high, on back of news it has spudded another well at the Gocerler field in Turkey.


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