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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Edinburgh Oil & Gas - 317p-a-share take-over offer

June 2005

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • EDG
  • Price:
  • 317p
The shares jumped 65p to a new high of 317p after Edinburgh Oil & Gas agreed terms on a cash take-over at 317p a share from Dyon UK. Dyon is a newly incorporated company, jointly owned by Dutch firm Orange-Nassau and Dyas UK, both oil e&p firms. The offer values Edinburgh at nearly £133m, a fair price given the fact that Edinburgh's key asset, a 5% interest in the Buzzard field in the North Sea, won't start producing oil until the end of next year at the earliest. The shares have gained 223% since our original recommendation at 98p in March 2003, while the holding in our TMI Trader Portfolio is registering a 122% gain in just 16 months. Accept the offer. < ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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