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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Edinburgh Oil & Gas - Big discovery in Noth Sea

March 2003

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.

An exciting rags–to-riches story is developing at Scottish-based oilprospector,  Edinburgh Oil & Gas.    In April 2001 the group announced that a consortium operated by BG Group, in which it owned a 5% stake,  had made the largest oil discovery in the North Sea for 25 years.  Appraisal reports of the find, known as the "Buzzard" prospect,  based in the Moray Firth, have since confirmed the presence of recoverable reserves in excess of 400m barrels of oil.  At a stroke this took Edinburgh's reserves from 3m barrels to at least 23m and the shares surged from 22p that month topeak at 158p a year later.  Although the initial euphoria has wornoff the shares are again building up momentum on h ...

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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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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