RE: SP Retreat11 Sep 2014 22:57
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