Economic Outlook
p. 156 · Read in the full issue
APRIL proved to be dull for st trading generally and the index the month’s end was a little b< March’s.
Oil stocks received most attention, they have in the last few months, selling wave on April 25, after a re] from Australian Oil and Gas that t ing at its Moonie No. 3 well down 5,848 ft had been “tight and r productive”, sent most oil comp shares tumbling. But 36 hours latei further report said that oil had flo at the rate of 1,500 barrels a day w tests had been resumed and the ( was two feet lower.
Those two feet cost the AOG pi sellers seven and a half million poui on paper.
Next day AOG, and the oth climbed back almost to former levels, the experts evaluated the new strike virtually trebling the proven produc area of the Moonie field.
On the political front, Mr. J. McE\ Minister for Trade, has returned to I tralia after having very bluntly Australia’s case before USA, UK, Europe about the effects of Britain’s ji ing the Common Market. He indict that nothing less than permanent si guards for Australia’s trade with Bril would be acceptable—but while they expressed “concern”, he was not able obtain any guarantees, and the out! is not good.
Sydney Sales Prices
Mar. 6. ’62 Anr. 27 Bali Plantations . 4 /- 4/3 Burns Phllp ... 100/- 101/- Burns Philp (SS) . . 48/- 51/- Cholseul Plntn. . . . bl72/6 bl77/fl
C.S.R. Co. . .
£ 58/10/' - £57/- Dylup Plantations . 6/8 6/9 Fiji Industries . . . 17/6 16/- Hackshall’s . . 15/llVb 16/- Kauri Timber . . 12/3 10/3 Kerema Rubber . 6/9 5/9 Koitaki Rubber . . . 14/6 12/3 Lolorua Rubber . . . 9/6 8/- Makurapau Plntn. . b2/3 2/3 Maribol Rubber . . . b8/- 5/6 Norfolk Is. Whaling . 2/5 2/1 Pacific Is. Timbers . 4/- 3/6 Palgrave 4/8 4/5 Plantation Holdings . 2/9 2/4 Queensland Insurance 125/- 115/ Rubberlands ... 5/9 4/1: Sangara 2/6 3/6 Sogerl Rubber . . . 8/9 7/6 Sthn. Pac. Insurance 40/- 38/3 Steamships Trading . 39/6 51/- W. R. Carpenter Hold. 34/3 33/K Watkins Consolidated 6/- 4/3 Timor Oil 4/3 3/-
Oil And Mining Shares
Dec. 4, ’58 Mar. 6, ’62 Apr. 27, Emperor . . b9/- S7/11 b5/- Loloma . . b30/b51/b52/ Bulolo G.D. b32/b70/6 b71/ N.G.G. Ltd. b2/3 bl/3 bl/9 Oil Search . b9/9 b3/4 b3/2 Ent. of N.Q. slid b7d b2d Pac. I. Mines — b88/b2/2' Papuan Apln. b4/6 b6/ll b5/2 Placer Dev. b91/b227/b226/ * £5 shares now divided into 2/6 uni