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Penny Share Review 521

Monday 30 November 2009

Penny Share Review 521 The Business & Media section of Sunday’s Observer included Europa Oil & Gas (EOG), drawing attention to the start of drilling in Lincolnshire. The headline “…hopes for a British oil bonanza have virtually dried up…” headed the piece and whilst noting that ‘hope springs eternal’, it stated that many oil majors have come and gone. However, attempts have been made to revive interest in the sector, with incentives such as tax breaks, and current high crude values have encouraged the likes of EOG, according to the article. At 14.50p, the stock was unmoved during this morning’s session.

FfastFill (FFA) appeared in Saturday’s Times, which noted increase in the shares following its announced belief that Ion Trading bought a 19% stake. The paper also pointed out that Ion has a holding in rival Patsystems, and the share price was 0.125p lower at 9.875p earlier today.

The Daily Mail on Saturday featured an article titled “Profiting from Immupharma” (IMM), suggesting that it was time to take profits “after a phenomenal run”. The article reported that it has been a “stunning investment, delivering a 93pc gain since we bought back in January”, but also expectation of a continued drift lower, due to an uncertain outlook. However, it went on that were the price to get down to 70p, the author would be tempted to buy back again. The shares were 4.25p lower at 93.75p this morning.

Expansion of Lithic Metals & Energy (LMY) through the reverse takeover of Amber Petroleum was noted by the Daily Mail today. The enlarged Group is expected to have a market cap of around £13.7m and the Company hopes the move will help to acquire other businesses. There was no change to the share price of 3.125p on Monday morning.

Today’s Daily Express highlighted Origo Sino-India’s (OSI) $15m investment in a Mongolian miner to cash in on China’s demand for coal, allowing it to sidestep Chinese investment rules regarding domestic buyers. Completion of a reverse takeover of its investment fund was also pointed out. The price remained unchanged at 16.00p during early trading today.

The prices above were taken at around 10:41am on 30 November 2009.

Announcements

The following companies, in which City Equities customers may have an interest, released announcements to the market this morning. These can be found by entering the relevant company name or ticker code in the search box on this site.

African Aura Mining (AAAM): Publication of Quarter 3 2009 Accounts.

African Eagle Resources (AFE): Drilling Report.

Angel Biotechnology (ABH): Issue of Equity.

Beowulf Mining (BEM): 3rd Quarter Results.

EMED Mining (EMED): Public Proyecto Rio Tinto Update.

Goldstone Resources (GRL): Half Yearly Report.

Griffin Mining (GFM): Option Exercise.

Mariana Resources (MARL): Right to Acquire 100% of the Sierra Blanca Project.

Meridian Petroleum (MRP): Result of Open Offer.

Stratex International (STI): Discovery – Gold Mineralisation in Ethiopia.

Western & Oriental (WEST): Notice of Results.

Look out for this week

Monday, 30 November – UK Consumer Confidence Survey (November). BSA Savings & Mortgage Lending Figures (October).

Tuesday, 1 December – Nationwide Monthly Housing Review (November). CIPS Manufacturing PMI (November).

Wednesday, 2 December – CIPS Construction PMI (November).

Thursday, 3 December – CIPS Services PMI (November).

Friday, 4 December – Halifax House Price Index (November) (expected around now).

Diary items source: Fidessa.

The next Penny Share Review will be posted on Monday, 7 December 2009.

Compiled by Chris Richards.




Risk Warning

There is an extra risk of losing money when shares are bought in some smaller companies including 'Penny Shares'. There is a big difference between the buying price and the selling price of these shares. If they have to be sold immediately, you may get back much less than you paid for them or you may have difficulty in selling them. Past performance is not a reliable indicator of future results. The price may change quickly and it may go down as well as up. You could lose every penny put into a particular share.

The information contained above has been compiled from documented sources which are believed to be reliable but, due to their very nature, are subject to a degree of historical inaccuracy and have not been independently verified and cannot be guaranteed. The pages on this website are provided for information only. City Equities Limited will not accept responsibility for loss incurred by any person or body acting, or refraining from acting, as a result of information and/or opinions given anywhere on this website. Issued by City Equities Limited, Aldermary House, 10-15 Queen Street, London, EC4N 1TY. Registered in England. Registered No. 2742847. Registered Address: Amwell House, 19 Amwell Street, Hoddesdon, Herts. EN11 8TS. City Equities Limited is Authorised and regulated by the Financial Services Authority. Registration No. 155051.