Economic Outlook[?]
p. 152 · Read in the full issue
MARKING time in the pre-ele* weeks of late November and ej ; December, generally business on Sycb Stock Exchange was dull and flat—ffl the early November index of “ordinari of 300 the decline was almost daily ujj by December 5, it was at 292.97.
Meanwhile, there was a wave of" shares buying immediately after* announcement on December 4 that* drillers, Union Oil Development Corgi, tion. had struck oil at Moonie, I While first tests showed a flow, hall| district, 200 miles west of Brisbane,* half water, of 500 barrels a day, it we be a fortnight or three weeks beforesi well would be permanently cased and! tests carried out.
The strike is on a concession in £& Basin, held by Australian Oil and* Corporation Ltd. (their shares, quoted 10/6 at end of November, doubled wii 24 hours). The drilling site is wii 20 miles of No. 1 Cabawin well whei geyser of oil, gas and mud occurree year ago—but which proved not to If commercial proposition.
Sydney Sales Prices
Oil And Mining Shares
Fiji
Nov. 6, ’61 Dec. 6f Bali Plantations . . 8/3 9/ Burns Philp ... 89/6 91/ Burns Philp (SS) . . 47/9 47/\ Choiseul Plntn. . . . 190/- 180/
C.S.R. Co
£63/-/- £58/ Dylup Plantations . 6/10 7/s Fiji Industries . . . 17/6 17/ Hackshall’s ... 13/9 13/ Kauri Timber ... 10/9 11/ 6/.
Kerema Rubber . . . 6/9 Koitaki Rubber . . . 16/- 15/ Lolorua Rubber . . . 8/5 7/ Makurapau Plntn. . 2/- 2a Mariboi Rubber . . , 6/9 7/ Norfolk Is. Whaling . 2/8 2a Pacific Is. Timbers . 5/3 4/ Palgrave 3/10 3/ Plantation Holdings . 2/9 2/ Queensland Insurance 107/6 110/ Rubberlands ... 5/6 4/ Sangara 2/3 2/ Sogeri Rubber . . . 8/- 8/ Sthn. Pac. Insurance 32/- 32a Steamships Trading . 42/6 42/ W. R. Carpenter Hold. 31/4 Va 29/ Watkins Consolidated 5/4 5/ Timor Oil 4/8 5/.
Dec. 4, ’58 N’ov. 6, ’61 Dec. t Emperor . . b9/b3/l 1 Loloma . . b30/b43/s
Papua-New
Guinea
Bulolo G.D. b32/b62/bftE N.G.G. Ltd. b2/3 bl/10 bli Oil Search . b9/9 b2/2 b2^ Oriomo Exp. — b3d b3€ Ent. of N.G. slid b2d s2 ] S Pac. I. Mines — b81/b8'8 Papuan Apin. b4/6 b2/5 b3,£ Placer Dev. b91/b202/b2S