AOK 0.00% 0.3¢ australian oil company limited.

Ann: Oil production in Oklahoma and Kansas grows , page-16

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  1. 7,365 Posts.
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    re: Ann: Oil production in Oklahoma and Kansa... dis/andres, the oil price has also retrace a bit to the support level of about $85 from a high of $93. Any improvement in the price of oil will definitely assist with a price recovery. Yesterday's sold down was by a single seller, who knows, someone needing a bit for cash. Just as well we had a big buyer in the market which helped to absorb the sell down. Look like some new buyers are coming aboard too.The continous good news of increased production in excess of the projected target is always a wellcome sign that the company is progressing well. The fact that all placement has been fully taken is indeed a good sign.The company should have achieved breakeven point from here on and we are looking at a positive cash flow is another plus.
 
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