Firstly , I would like to wish everyone – Happy new Year!

As of today the portfolio value is £20300. That’s over 100% gain in six months! Suffice to say I am pleased. The last few months I have been moving more and more into the commodities markets and seeing as it has been so lucrative, I can see this trend continuing.

I have only made two changes since the last post for the website portfolio. I had a large proportion of my shares in Xcite and with so many potential new shares on the radar I wanted to free up some funds. I want to maintain this portfolio with about 10-12 shares. This way I should be able to keep on top of what’s going on.

I am quite happy with the current selection of shares and all have a potential for huge gains in 2011.

ALO – Alecto Energy, Not much in the way of news since the the Mauritania licences were obtained. This share has dropped back a little since then and is looking like a really good buy right now. – Currently holding, RNS is way overdue.

AVN – Avanti, Still convinced this is a bargain. Sometimes when something looks too cheap, it really is. I would buy more but already holding 2.5k.

BEM – Beowulf Mining, Finally moved into profit. Up 25% for the new year. BEO release an excellent resource update in December and they have an exciting year ahead. I am convinced that on further resource updates and plans this SP has a long way to go yet! Target 70p stop 25p

BMR – Berkeley mineral, Still waiting on confirmation of the Kawbe deal going through. – Delays have caused a small retrace but news now scheduled for any time in Q1. If news is good there will be some big gains overnight…

EDL – Edenville Energy, What a performer! – Currently 175% profit in about a month. New out today so on writing this I am out. “Sell on news” could be the way to go here as there could be a while before the next update… View to buy back in a little cheaper. Hopefully there will be a few opportunities over the coming months.

EO. Encore oil, Up 5% on buy price. Excellent results from the Valdero Well. This is good news for Encores future. On to the next one already (Burgman). More exciting developments due over the next few weeks.

GKP. Gulf Keystone Petroleum, No movement here since my last post but continue to hold because this company has so much potential. A few legal wranglings have held them back recently but the BOD are confident these will be resolved without issue. Also there is talk of moving to the FTSE 250. This will only drive the SP up further.

MTA. Matra Petroleum, What a great buy. Only bought three weeks ago and showing a 50% gain. A production licence for the Sokolovskoe field has been granted for the next 20 years. – Just waiting on news from Well’s 12 and 13. These are expected soon and if news is good I would not be surprised if we saw another 50%.

VOG. Victoria oil and gas, Waiting on the appropriate licenses to be awarded. The BOD are confident that this will happen in the near future and are already signing up gas customers.

VTC. Vitec Group PLC, Vitec have enjoyed a good year and things seem to be progressing well. Based on last year we can expect an update soon.

XEL. Xcite Energy, You may have read in my last post that I sold off all of my Xcite holdings following the director sales over XMAS. I bought back part of my holdings for a few pennies discount a few days later. Now showing another £200 profit from Xcite.

New Purchases

IAE. Ithaca Energy, Ithaca are a Cash rich north sea oil and gas explorer and producer. They are busy acquiring acreage and currently working on a number of projects to increase production levels, – including;

– Sustained incremental injection of water into the Beatrice reservoirs
– Completion of the Beatrice Alpha well work over campaign including the
– Installation of downhole pumps in two Alpha production wells
– Intervention to restore pumped production from Bravo well, B1

The BOD anticipate an increase in  average production figures from 4400 to between 5500-6000 boepd for 2011. This along with every increasing prospects and assets should provide room fro significant rises in SP this year. Target 300p Stop 130p.

With the Ithaca buy I didn’t have enough ready cash to buy back Edenville today so I had to buy it outside of the portfolio. But i have bought back in at 2p

I have bought a few other shares recently outside of the website portfolio. All traded in the ISA or the spread bet account.

Firstly – Bought back this mornings sale of EDL. i was begining to question my motives for selling and the opportunity to buy back in at 2p was too much!

Others bought over the new year include, CAZA,  KEFI, PGD, CGH, not forgetting PTCM my potential goldmine – see my last post. All have great prospects for 2011 but all are high risk so do careful research.

Once again – Happy new year all and good luck in 2011

As usual, keen to hear your thoughts – Use the comments system or email me at websitemail AT dailytrading.co.uk

Doug

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