HDR hardman resources limited

in todays west australian

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    Commodities lead the way in 2003-04

    ELICIA KENNEDY



    WA's Hardman Resources led the charge in the 2003-04 financial year, clocking up the biggest share price rise among a bumper crop which fuelled the sharemarket's best performance in 17 years.

    The emerging oil and gas producer's stellar run, in which its shares stormed 275 per cent higher to $1.92, came on the back of massive discoveries off Mauritania and has set the scene for what market analysts expect will be another robust performance from the domestic market in 2004-05.

    Woodside Petroleum was another home-grown energy stock that was an outperformer, surging 33 per cent to $16.67, following the oil price's flight above $US40 a barrel.

    Despite softening to $US36 a barrel this week, market analysts believe high oil prices are here to stay for the short term.

 
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