05/05/2006
If you are still in Genesis Petroleum, stick with it. The shares were tipped here (as shell company Zari Resources) in August 2004 at 1.75p and I suggested you sell your holding a few months later at 4.75p. Now Genesis is trading at 2.38p after what looks like a cracking deal.
The company, which has a mass of 3D seismic covering the North Sea, is forming a joint venture with a big Norwegian geotechnical services company, Petroleum Geo-Services (PGS). The latter will make its own 3D seismic, covering an area stretching from the Shetlands to Germany, available to the new company and help accelerate the process whereby it qualifies for licences in Norwegian waters. Access to the seismic will allow Genesis to pick its licence areas in what remains an exciting part of the world for oil and gas exploration.
With a market value of just £30 million, Genesis has a lot of upside and I have just bought a few shares for the ride. Continue to hold.
Related Articles:
|
| 10/05/2006
|
| 09/05/2006
|
| AIM | £20.34m |
12.00p
|
-0.25p
|
|
| Other company articles: |
| 13/08/2008 |
| 09/05/2006 |
| 05/05/2006 |
Manage Your Finances
Money, tax and benefits : your official guide.
Shares
Looking for Shares? Review our comprehensive listings.
