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Penny Share Review 522

Monday 07 December 2009

The Guardian on Saturday speculated that shares in Cinpart (CINP) had benefited from the removal of an overhang last week, but the price was 0.25p lower at 13.75p this morning.

Saturday’s Daily Express included an article regarding the Falkland Islands, headlined, “Have we really found 60 billion barrels of oil in the Falklands – and will it save our economy?”. The piece named Desire Petroleum (DES), along with Falkland Oil & Gas (FOGL), who believe a ”fortune in black gold” lies beneath the islands, though drew attention to the expense of off-shore drilling. Desire’s stock was 5.25p higher at 87.75p during early trading, whilst FOGL was 0.50p better off at 130.50p.

Saturday’s Daily Mail reiterated last week’s trading statement from Intelligent Environments (IEN), reporting the cancelled order from Chelsea building society and expectation of transactional revenues below forecasts, due to delays. The shares were 0.25p lower at 9.50p earlier today.

Lonrho (LONR) appeared in the Daily Mail on Saturday, which highlighted the Company’s £16m fundraising at 10p, and that shareholder acceptance is to be sought to raise more in the future, if demand is there. This was also picked up by the FT this weekend, and the price was 0.25p higher at 10.50p this morning.

Today’s Daily Express commented on today’s Results from Plant Impact (PIM), with turnover more than trebling. It went on that these followed news that its nutrient technology helped growers and the stock was 1.00p healthier at 31.50p.

The weekend’s Financial Times noted a fall in the price of Sound Oil (SOU), after it announced the end of reverse takeover talks, and included speculation that Frank Timis (with whom the talks were with) is selling down his holding in SOU. News that the Company’s license on its Bangkanai project might lapse at the end of the month also impacted, according to the paper, and the stock was 0.075p lower at 1.80p.

The prices above were taken at around 12.01pm on 7 December 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.

COMS (COMS): Holdings in Company.

Conroy Diamonds & Gold (CDG): Irish Stock Exchange Notice.

Cove Energy (COV): Drilling & Operations Update.

Desire Petroleum (DES): EIA Addendum.

Energy Technique (ETQ): Change of Adviser.

Formation Group (FRM): Disposal.

Jubilee Platinum (JLP): Successful Smelting Trials.

Petroceltic International (PCI): Algerian Drilling Update AT-2.

Plant Impact (PIM): Half Yearly Report.

Regency Mines (RGM): Final Results.

SmartFOCUS Group (STF): Wins LV Contract.

Sunrise Diamonds (SDS): Final Results.

Look out for this week

Monday, 7 December – Halifax House Price Index (November - expected around now). Results from Plant Impact (PIM), Regency Mines (RGM) and Sunrise Diamonds (SDS).

Tuesday, 8 December – RICS House Prices (November). UK Monthly Industrial Production Figures (October).

Wednesday, 9 December – Nationwide Consumer Confidence Index (November).

Thursday, 10 December – Bank of England UK Interest Rate Decision (December).

Friday, 11 December – UK Producer Prices (November).

Diary items source: Fidessa.

The next Penny Share Review will be posted on Monday, 14 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.