Gas price rises, share prices rocket

New gas extraction technologies attracting investors to Cooper Basin.

It might be difficult to teach old dogs new tricks but that’s not the case with old oilfields because the revival of the Cooper Basin in central Australia is one reason for the sharp increase in the share price of Australia’s second biggest oil and gas producer, Santos.

Takeover chatter is another factor in the 11.5% rise by Santos in the 12 trading days since July 1 with two of the world’s oil majors, Chevron and ExxonMobil named as possible suitors.

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