Secondary Recommendation

Tullow Oil - Huge oil discoveries in Africa driving up shares

October 2009

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.

Flying in the face of doomsters citing an impending energy supply crunch, BP, 554p has announced a â€œgiantâ€ discovery in Mexico containing up to 3 bn barrels, while not to be outdone BG Group, 1142p (the exploration arm of the old British Gas) has since found a â€œsuper giantâ€ field in deep waters offshore Brazil with up to 2 bn barrels recoverable. The fact that their share prices barely twitched is more to do with their gargantuan market values than anything else but there are exceptions to the adage that elephants don't gallop with FTSE-100 constituent Tullow Oil enjoying a stellar run on the back of several large discoveries in West Africa. Tullow has come a long way from its origins as a small, buccaneering explorer ...

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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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