1. Most Discussed
  2. Gainers & Losers
STU 94.0¢

First sales

  1. gyro

    5,426 Posts.


    HOMEX - Adelaide

    As Operator for the Stuart Petroleum/Beach Petroleum Joint Venture
    (Candra Block PEL90 Cooper Basin South Australia - Stuart Petroleum
    75 per cent interest) Stuart advises the following:

    The first shipment of oil, 450 barrels, was made from the extended
    production testing programme on Acrasia #1, on 28 July 2002, just
    four months after the well was spudded.

    All production from the extended test programme has been sold to
    Santos Limited and partners under a Production Off-take Agreement.
    The price received is equivalent to TAPIS crude (currently US$26 per
    barrel) less a transport and access charge.

    The current production testing rate of 480 barrels per day will be
    progressively increased over the next six months, up to 800 barrels
    per day, when concurrent testing of Acrasia #2 commences.

    This first shipment heralds the transition of Stuart Petroleum from
    explorer to producer.

    Enquiries regarding this report and company business may be directed

    Rod Hollingsworth
    Level 7
    22 King William Street
    South Australia 5000

Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.


Thank you for visiting HotCopper

We have detected that you are running ad blocking software.

HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.