Oil and gas explorers Carnarvon Petroleum Ltd [ASX:CVN] and Santos Ltd [ASX:STO] have done it. Their persistence in WA has paid off after they finally found what they were looking for: oil.
Some people believe crude will march to higher prices. Others say it’s overpriced… It’s tough to know who’s right. But, objectively speaking, the sector remains broadly ‘hated’ by the market.
The Carnarvon Petroleum Limited [ASX:CVN] share price has surged by 25% at the time of writing. Which doubled the price of its close on Friday trading at 17.5 cents, before the announcement of Monday’s pre-news trading halt. This is all new ground for CVN, which saw its... Click here.