junior oilers strong today....

  1. 1,317 Posts.
    Interesting to see the buyer support for PSA late in the day. It seems like all of the bids came from off screen as though somebody was trying to accumulate a holding without bidding up the price too much or scaring off those seeking to take some profits at 84 and 85 cents.
    If this continues tomorrow those 85 cent offers will get hit and last week's 87 cent high seems likely to be tested. Big month for PSA with drilling program about to commence. Should report $A15 million plus in cash in hand at the end of June.
    Good support for a lot of the oilers today with rerating of ROC, TAP and Novus and support for AMU and BPT on interesting drilling results. Daily reports on Yesiltepe keeping Amity up there in the stratosphere. Cue closed the day at 5 cents, first time for a long while and PCL moved up from 2.6 cents to 3 cents on good volume. HDR too was stronger today, up two cents on good volume. Must be some drilling announcements out this week surely! Arq also benefited from renewed interest in energy stocks up two cents to 66 cents again on good volume. Even the normally quiet SUR looked like it was going to go for a bit of a run. And can anyone tell me why EGO closed 66% higher, now that's a good days gain!!
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