ASX Market Report
|All Ordinaries||5228||29||0.57||$A vs $US||0.7184||--||0.41|
|S&P/ASX 200||5198||31||0.59||$A vs GBP||0.4710||--||0.24|
|$A vs YEN||86.22||0.21||0.24|
|$A vs EUR||0.6378||--||0.42|
|$A vs $NZ||1.0880||-0.0100||-0.50|
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Wednesday 7 October - The Australian market started the day on a high point, as energy stocks rallied after strong gains in crude oil prices overnight. However, the positivity was short-lived as the big banks succumbed to selling pressures in early morning trade. Volatile trading continued throughout the day with a late rally pushing the benchmark higher for the third-straight session. There were mixed results from the sectors; energy and materials gained most significantly while industrials lagged behind the rest. The Australian dollar appreciated against most major currencies.
The All Ordinaries rose 29.40 points (0.57%) to 5,228.40 while the S&P/ASX 200 added 30.50 points (0.59%) to 5,197.90.
AWE Limited (AWE)
AWE announced that it had commenced the flow testing program for the Waitsia-1 well to further appraise the conventional Waitsia gas discovery in the onshore Perth Basin, WA. The testing program is designed to determine well deliverability from two conventional reservoir zones and to collect gas samples for compositional analysis. The first zone being flow tested is the deeper High Cliff Sandstone, where a 23.5m interval has been perforated. Well clean-up operations commenced on 5 October 2015. On 6 October 2015 at the end of a 7 hour clean up period, the well flowed gas at an average rate of 24.7 mmscf/d constrained by tubing size, on a 60/64 inch choke at 1330 psig flowing well head pressure over a 1 hour period. AWE jumped 11 cents (15.07%) to $0.84.
Beach Energy Limited (BPT)
Beach Energy provided monthly drilling report for September 2015. A six-well development campaign is underway in the Tirrawarra and Gooranie fields, targeting gas and gas liquids in the Patchawarra Formation and oil in the Tirrawarra Sandstone. Tirrawarra-86, the fourth well of the campaign, was cased and suspended following intersection of gas and oil pay in target zones in-line with pre-drill estimates. A five-well campaign was completed in the greater Limestone Creek area. Jena-23, the last development well of the campaign was drilled to develop booked reserves in the McKinlay Member and Mid-Namur Sandstone. Spitfire-7 was cased and suspended as a future oil producer following intersection of 6.6m of net oil pay within the target Birkhead Formation. BPT gained 4 cents (8.25%) to $0.525.
The NZX lost 18.08 points (-0.32%) to 5,650.03 while the Nikkei climbed 130.32 (0.72%) points at the time of writing to be last quoted at 18,316.42.
The Australian dollar was last quoted at 71.84 US cents.
Companies commencing Ex-Dividend Trading Today (ASX 300):
ARB Corporation Limited
Japara Healthcare Limited
Premier Investments Limited
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