TD clients explore oil company updates
Stuart Welch, CEO, TD Direct Investing comments: "Borders & Southern plc (BOR) entered both our top ten most popular buys and sells tables in top spot this week. In the shortened week of trading to Monday 27th August, the oil and gas explorer accounted for almost a fifth (19.25%) of the top ten trades overall, with a buy:sell ratio of 1.25:1 - its share price increasing by almost 79% following an announcement that its Darwin field off the South Atlantic islands may yield about 190 million barrels of gas condensate. Meanwhile, the FTSE 100 closed slightly lower ahead of the bank holiday weekend, finishing at 5,776.60.
"All of the six new entrants to our tables this week came from the oil and gas and precious metals sectors, with Russian gold miner Petropavlovsk plc (POG) entering the buys table in fourth place after it announced its first-half net profit fell 90% on the same period in 2011, despite banking record revenues. TD clients appeared primed for a bargain as Petropavlovsk's share price dropped 80.85p during the week ending Monday 27th August to finish the period at 385.45p.
"Elsewhere, Kazakhmys plc (KAZ) entered the buys table in fifth place, with Kazakhstan's largest copper producer announcing that its first-half profit had slumped 67% as volumes dropped and prices declined. Meanwhile, Range Resources Ltd (RRL) entered the buys table in eighth position ahead of Tuesday's (28 August) disappointing revelations that no oil was found at the company's Shabeel North well.
"The remaining new entrant to the sells table was Heritage Oil plc (HOIL), which took seventh position after striking a deal last week with Genel Energy plc (GENL) to sell it a 26% stake in the Miran gas block, Kurdistan. The move saw Heritage's share price jump almost 19% to 199.90p during the week ending Monday 27th August."
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