Updates

Salamander

November 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.

Oil & gas firm Salamander has made an offer to take over its Toronto and AIM-listed rival Serica Energy, 37p. Its offer of one new Salamander share for every three Serica shares, valuing Serica at approximately Â£76m, was rejected as undervaluing the target. Serica has oil & gas licences in Western Europe and South East Asia and its reserves as at 30 June were 14.8m barrels oil equivalent. But it is forecast to make a loss of US$26.5m this year, before turning a profit next and the response of the share price indicates investor unhappiness at this strategy. Await further events. ...

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Cape

Goodwin - Q1 pretax profit increases 21%

Salamander (October 2008)

Salamander (August 2008)

Salamander Energy - Increase in oil & gas reserves (July 2008)

Salamander Energy - Asian oil & gas firm with strong production growth expected (May 2008)

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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