Aussie investors discovered that Beach Petroleum, a big player in Australia, has sold out of their big position in Sundance. At one time, they owned 20% of Sundance and participated in some wells with them. They were gaining knowledge of horizontal drilling and fracking to apply to their shale gas wells in the Copper Basin in Australia. So that appears to be a logical reason for the big selloff from over a dollar to the .60's. We are bouncing back nicely and are up .025 to A$.85 tonight in Aussieland.
Bobwins
Please post stock symbols first in all your posts. If it's a foreign stock, please list the US pk equivalent symbol.
If the Commodities Boom is Over, I am just a Gold Bug headed for the Windshield of LIFE