Archive for October, 2010

O what a beautiful day

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14 years
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Xcite’s RNS out this morning. – Good job I bought back in on Friday.

XEL’s share price went from 140-175p today on a fantastic news update.

“40ft thicker than the 73ft prognosis, in a high quality Dornoch reservoir and confirmed the oil water contact at 3729ft total vertical depth (on prognosis). The oil column has 100% net to gross (compared to previous average of 88%). Management believes that this height of oil column confirms that an upside structure is present in the eastern half of the reservoir, significantly increasing the volume of oil in place”

I was very lucky with this one. – Last week I sold out of XEL at 131p because I expect the price to fall back further before this RNS came out. This gave me a profit of about £800 – The RNS wasn’t due for ages! When Rumours started emerging of them reaching TD the price started rising. Fearing I was about to miss the boat I bought back in at 139p. Bloody good Job eh!!

The rest of the portfolio is looking good. I made a few changes last week. I sold my Yamana gold for a small profit and bought back into Centamin. CEY looked cheap at 168p and they have always delivered for me in the past and with results due on the 3rd November I am hoping to make a quick small profit.

Recent buy Victoria oil and gas has dropped back slightly and I am showing a small loss. This was always a high risk share and share trading at these prices can be extremely volatile. Let’s hope for some more good news.

All in a good week – with website profits up £800 and running profit up £800 this morning alone!

I hope to get the forum up and running next week, please register using the link on the right.

More updates next week…

Xcite, Encore, Victoria – what a week!

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14 years
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It has been one busy week for oil and gas.

Where to start?

Encore (EO.) released a very positive RNS first thing on Tuesday with P50 figures (best estimation) potentially in excess of 250mm bbls. A huge increase on last years estimates. This triggered a 10% drop in share price! Expectations were very high for this share and at current prices this seems very good value. For a long term hold this could be a very profitable share. However – The next results on not due for months and a fear that oil traders will get bored over the next month or so and the price will drop. – I sold out at 117p for a £100 loss… One to look at again in the future.

Better news for Xcite Energy – living up to their name!

Yesterday morning the XEL share price rocketed up from 114p to 137p upon rumours or “leaked information” I am still getting to the bottom of this but rumours range from hitting total depth to improved quality. – Who knows? – I am just please as now showing nearly £1000 profit on this share alone!!

Victoria oil and gas (VOG) are a new one for me but they have caught my attention.

They released an RNS today which could only be described as exceptional… The companies Logbaba reserves are proving to be a great find. This company has been drifting along for some time and had some seriously bad luck. – Looks like its luck could be about to change. I bought in with just £500 @4p which could prove to be a very good buy.

These three shares have provided plenty of Xcitement for one week and the XEL gains have easily compensated for a slightly drop from the rest of the portfolio. – Perhaps time to think about some profit taking?

Trades table will be updated tomorrow – more updates next week.

Latest trades are recorded here and updated on a weekly basis. http://dailytrading.co.uk/trades/

I have installed a forum which I will be working on this week. – I would quite like to get a bit of a community going here so we can share some info’s – Sign up to your right!

Going steady.

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14 years
by

There have been a few up’s and a few down’s this week. Luckily the ups were bigger…

Only a couple of sells over the past fortnight, one being Petro Matad. MATD released an RNS on the 6th that on first inspection looked OK. The share price started to rise as a few people jumped in on the news. I was watching the price quite carefully and did a bit of research myself into what exactly “significant hydrocarbons” were… After watching the price fall back slightly I decided to jump rig at 187p for a small profit. I wasn’t convinced by the update and it turned out to be a good move as while the update was digested by the masses the price dropped right back to 140p

The other sell was Centamin (CEY) this was triggered by the need for funds to invest in Supergroup. SGP dropped back nearly 10% on Tuesday to 1070p. I couldn’t find any good reason for this drop so decided to buy in. Supergroup released a great update in September and they have another update in a month’s time. I think SGP are a well managed dynamic company and I am expecting a positive report in Mid November. Target – 1400 Stop 1000. – Already bounced back to 1130p!
I will be looking for a re-entry point for CEY when I have the funds.

The only other new buy is Encore Oil (EO.) Following recent success within the Energy Sector I thought I would check out some other energy companies. EO. looks to have plenty of potential and are currently drilling appraisal wells in the North Sea. Potential for some really big gains here but this is high risk as dry wells can seriously knock share prices. Stop 100p Target 200p

The rest of the portfolio is looking good with small gains on most shares. BP is looking particularly good and is showing a nice consistent rise in the right direction.

Next update in two weeks!

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