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