Petroz, PTZ 22/3/00

Petroz, PTZ 22/3/00

Petroz, PTZ

The fortunes of this stock are linked to East Timor. So as the politics of this situation unwinds you have a charting pattern to watch. Petroz has 8% control of the Bayu-Undan oil and gas project in the Timor sea. And redevelopment has now won final approval. [If you ask me this is what Indonesia's invasion of East Timor was all about; this oil field, but that is a personal opinion]. The profits tax will flow back to the U.N. administered Territory of East Timor now. And it will be substantial.

On a charting level; a change in trend may be in process here. We can watch for a process of accumulation . (between the lines) A break above is bullish.

On a political level; watch for politicians to rise in East Timor with oil connections and / or prepared to protect vested oil interests.

Print This Page

Home ----- Contact Us