AOK 0.00% 0.3¢ australian oil company limited.

AOK has been testing the resistance level of 12.5c in the last 2...

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    AOK has been testing the resistance level of 12.5c in the last 2 weeks.It has managed to stay above 11.5c where its main support are. Meanwhile oil price has rebound over the $90 mark. The reserves has been increased by over 75% in the month of July as reported by the company. The company is on schedule in drilling 2 new wells per month, thus adding to its cash flow and oil reserves.I can sense the CEO of the company DL being very optimistic.Also a micro fund manager on resources is climbing on board.Neigbouring Range Resources, and Sandridge are ever bullish and increasing their production of oil in the area, especially those in the invincinity of the Snake River area where AOK's main reserves are.The SP has not caught up with the fundamentals of the company as we observed accumulation below the SP of 12.5c happening. They say the broader the base, the sharper the climb; if that is the case shareholders will have a good windfall. The lack of resistance after 12.5c adds support to this theory. Please DYOR as this small shareholder is inexperience and is only speculating and dreaming about AOK's SP movement and is hopeful.
 
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