Primary Recommendation

Enquest - North Sea oil firm eyes strong production growth

June 2016

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.

By even the most demanding standards Enquest, which produces oil & gas from the North Sea and Malaysia, has developed an enviable track record with proven & probable (2P) reserves increasing from 81m barrels to 216m barrels between 2009-2015 while production has soared from 13,613 to 36,547 barrels oil equivalent per day (boepd). But then this is partly because Enquest is not an explorer & producer in the traditional sense but instead is more akin to a “scavenger” in that it identifies and acquires mature producing assets to which it then lends its technological skills to unlock value by increasing their recoverable reserves. In many cases it has been able to buy some very cheaply because vendors wanted to get out ...

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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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