Primary Recommendation

Salamander Energy - Asian oil & gas firm with strong production growth expected

May 2008

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.

Salamander Energy is one of those oil & gas plays that provides investors with the best of both worlds. On the one hand the company, which has an attractive portfolio of assets in South East Asia, is set to embark on an intensive program of exploration and appraisal drilling, which is likely to see a substantial increase in its reserves. On the other, it is already experiencing a massive ramp-up in production, which looks set to increase by 240% in the three years to 2009 and this has prompted broker ABN AMRO to forecast a near nine-fold increase in cash flow to US$241m next year. Not only does this make Salamander look cheap on a prospective price to cash flow multiple of just three times but along with its substantial cash ba ...

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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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