Apologies Dave for typo error, for Newsweek read Moneyweek.
12 Sep '14
Re SP Retreat
Thanks for the tip Dave, I'll keep HUR in mind. To tell the truth I have only IGAS, SGI & AUE. I sold up a few months ago because I reckon a big correction is due. All that debt & interest rates about to rise. I keep SGI & AUE because their corporate plans are detailed & v sound. I have IGAS because I have worked in the power generation business since 1989 & have concerns on our ability to keep lights on with old kit. The recent deals made by the grid for companies to shut plant down at peak times is just an example. The oil price has dropped sub $100 so easing need for gas for now. I follow Newsweek who claim stocks will tumble, gold will take off early October, & Scots voting yes will be good for a number of firms such as Royal Mail. It will be interesting to see what happens.
11 Sep '14
RE: SP Retreat
Hi Banksman. Not done any further research on this but 280p looks a great buy to me. Still on my watchlist but no available funds again!! they have gone elsewhere. I see you are in IGAS. I previously bought in there close to a pound but sold out for about the same price a few months later only to miss the spike up to 130+ Current price looks ok but wonder if it will keep falling. I don't like giving tips but have a look at HUR. It is an oil company also but like AUE already has found the resource. In fact the single biggest oil find in the north sea for 20yrs. The flow rate is a very impressive 9800 barrels per day. Its well managed and unlike Iraq, middle east etc is in a very safe place. SP is currently depressed by a large seller, a foreign bank which had gone bust and liquidator selling stock, which may now have sold out. Also the market does not like uncertainty with the Scottish Referendum. Once this is over SP should move north. The company is due to announce in September a resource upgrade to recent oil discovery which will push SP north also. SP predictions by brokers, analysts etc suggest 80-100p by end of yr (currently 41p). BP owns 5% of company (its only direct investment in another oil company) which has an oil field next door. This is without a likely farm in or takeover. Of course this is all my opinion DYOR if interested. Regards Dave
1 Sep '14
Davbro - any opinions? The merger with Noble has resulted in sale of London property for £4.5m, a significant sum for SGI. Contract completion due November time. Progress on the web based Auction House seems good. Yet SP is again in retreat. Another opportunity?
1 Aug '14
Banksman, a good bounce off the recent 280p low and I should have bought in. No funds available then and after I sold some other stock the SP had jumped. Still on my watchlist and might look to buy in at about 310p the current support level. I note the shareprophets website rates this stock and has a 400p target. GL - off on my 2 weeks hols later tonight
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