This is the first time in a while I have no trades to report. It’s Wednesday so I am just going to run through the portfolio to reassure myself

ALO – Alecto Energy, News that work has started at Mauritania has pushed prices over 10% up today! – this could be a really good month for Alecto. More license news should be soon to follow. This is looking like a really good buy and still very cheap.

ATC – Atlantic coal, ATC has dropped back slightly this week. Blackrock recently increased their holding and Atlantic has upped their production plans for the Stockton Colliery.

AVN – Avanti, I am still convinced this will be one of my biggest earners for 2011. In my opinion AVN are seriously undervalued.

BEM – Beowulf, Now showing a 56% profit! Drilling results for Kallak South due very soon. we could see another 20% in the next couple of weeks.

BMR – Berkeley Mineral Resources,  New director last week. This was followed by a small rise. Still waiting on the Kawbe deal going through. This could be any time in Q1.

BLVN – Bowleven, see – recent post “Why Bowleven”

EO – Encore, Moving onward and upward. Last week we saw excellent results from the Valdero well push the share price up 5%, this week. next to come is “North Catcher” Based on previous timing I expect this news in about two weeks time. Up another 2% on last week!

GKP – Gulf Keystone Petroleum, GKP released an operational update yesterday for Kurdistan. Positive news all round.

IAE – Ithaca Energy, Ithaca are another exciting prospect for 2011. – A new corporate presentation has just been released with details of current projects and plans. – Potential here a really good year.

http://www.ithacaenergy.com/uploads/IthacaCorporatePresentationJan2011.pdf

MTA – Matra, Slightly Disappointing initial flow results from well-13. They are currently acquiring pressure data to find out the well’s true potential.

VOG – Victoria oil and Gas, Still waiting on licences but a good week none the less.

VTC – Vitec Group, VTC have had another good week.p  Up another 5%

Overall it has been a better week, recovering some of last weeks losses. Hopefully the good news flow should continue into February.

Doug