re: new all time high! Nice article in September Shares magazine...

re: new all time high! Nice article in September Shares magazine under BOOM TIME - 15 GROWING OIL STOCKS TO WATCH reads as follows;

Anzon Australia listed on the Australian Stock Exchange in December 2004 and its shares which had an issue price of 40c , have nearly doubled (obviously now have!) The company appears undervalued based on Euroz earnings per share forecast if 22c for 2005/2006. This reflects a p/e ratio of less than 4 with the seeminglt heavy discount attributable to Anzons " single project" status.

Anzon has a 75% stake in the Basker/Manta/gummt (BMG) oil and gas feild in the gippsland Basin, Victoria. Although this a high profile asset with robust, proven and probable reserves, the company is sure to trade at a discount until a number of issues are determind. A Production licence for the development of the field shoult be acquired shortly (ANN 12/8 states The final documentation to apply for the Production Licence in respect of the full development of the Basker-Manta oil fields was submitted on 8 August 2005 to the Designated Authority, the Department of Primary Industries of Victoria. Approval of this application is anticipated in September 2005 ,so not long to get set ) and this will be the first barrier to overcome. The discovery of further reserves and/or the start of production from the core Basker - 2 appraisal well are events that should trigger a share price re-rating. For investors looking for a diversified company with leverage to the upside potential in the BMG project, Beach Petroleam , which has a 37.5% stake may be worth considering.