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!