Crude Oil

[Huang Chung]

Seems that you either need decades of reserves (e.g. Woodside) or a major oil discovery relative to the company's size (e.g. Innamancka / AED) to get rerated.

I'm not sure if the ARQs and BPTs will continue to miss out on any rerating, or whether it will happen down the track, presumably when they release their half yearly's.