RE: Advise please?29 Apr 2015 21:52
Donnydog Thats your choice but imho its bottomed out here plenty waiting on the update so it could be very difficult buying they have cash and when we see how the assets are progressing it could be a whole new ball game plus a new investment hopefully.
Beaufort Securities Mercom Oil Sands (MMO)
Mercom posted a considerable decline in losses as it recently switched from an oil exploration and development business to an oil and gas investment company. After the capital reorganization in July and the out of court settlement with Nordic, the company is well positioned to take bold investment decisions.
The management has already acquired a diverse oil and gas portfolio through its stake in various companies, holding a variety of assets in natural resources and energy sectors.
The company has come a long way since its AIM listing in 2012, and is constantly evolving with better opportunities to create a substantial value for its shareholders going forward.
In May, Mercom restructured its investment policy and invested £768,000 to acquire a 30% interest in Lion Natural Resources, 35% stake in NWT Coal Limited and 7% convertible debentures of Maverick Petroleum Limited.
We retain our Speculative Buy rating.