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Penny Share Review 527

Monday 18 January 2010

Today’s Daily Express drew attention to news that Cheerful Scout (CLS) was launching a new events management and production division, announced last week. It stated that Chairman Stuart Appleton said the move would help the firm increase market share, and Monday’s Independent also reported this, but the shares were unchanged at 6.50p this morning.

The price of Circle Oil (COP) increased following news of extended test production on its KSR-8 well in Morocco, according to The Times on Saturday. An additional 0.25p lifted the price to 35.00p on Monday morning.

News of suspended operations on the Kowalik-1H well in the US hampered the progress of shares in Empyrean Energy (EME), reported Saturday’s Times, though there was no change to the price of 11.75p during early trading today.

A large trade post market close in Petroceltic International (PCI) was noted by the Financial Times at the weekend, before the Company provided clarity this morning (please see below). The stock subsequently improved by 0.75p to 15.25p.

Saturday’s Daily Mail featured President Petroleum (PPC), formerly Meridian Petroleum, pointing out that the Company has Peter Levine (founder of Imperial Energy) as its biggest shareholder. The piece went on that increase in the stock was helped by comments from Evolution, which said the Company has an enviable combination of experienced management and access to finance. The weekend’s FT also detailed Evolutions “buy” rating and 90p target price. The positive momentum appeared to spill over into this week, where the price added a further 3.50p to reach 59.25p.

Derek Pain’s “No Pain, No Gain” section of The Independent on Saturday included Supporta (SOR), in relation to the Mears Group offer. Mr Pain reiterated that the Supporta board backed the share exchange and that the deal would make a dramatic impact on Mears’ care business. The stock was unchanged at 32.50p earlier.

A rise in the share price of Vatukoula Gold Mines (VGM), ahead of a management road show in New York and Canada, was reported by Saturday’s Daily Mail. An additional 0.08p was added to the price earlier today, reaching 2.66p.

The prices above were taken at around 9:52am on 18 January 2010.

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.

AfNat Resources (AFNR): Operations Update.

Angel Biotechnology (ABH): Trading Update.

Aurelian Oil & Gas (AUL): Proposed Conditional Placing.

Conroy Diamonds & Gold (CDG): Results from drill holes at Clay Lakes.

First Dental Laboratories (FDT): Directorate Change.

Frontier Mining (FML): Exercise of Warrants.

Kefi Minerals (KEFI): Notification of Interest.

Petroceltic International (PCI): Placing of Iberdrola Shareholding.

Plant Impact (PIM): Finalist at 2010 Grower of the Year Awards.

Stratex International (STI): Shehagne Gold Project – Ethiopia Update.

Supporta (SOR): Mears Group Offer Update – Unconditional as to acceptances.

Surgical Innovations (SUN): Contract win with US Group Purchasing Organisation.

VPhase (VPHA): Holdings in Company.

Look out for this week

Monday, 18 January – Rightmove Monthly House Price Index (January). BRC-KPMG London Retail Sales Monitor (December, covering the Christmas period).

Tuesday, 19 January – UK Monthly Inflation Figures (December).

Wednesday, 20 January – Monthly UK Unemployment Figures (December).

Thursday, 21 January – Bank of England Trends in Lending report (January). Public Sector Finances (December).

Friday, 22 January – UK Monthly Retail Sales Figures (December).

Diary items source: Fidessa.

The next Penny Share Review will be posted on Monday, 25 January 2010.

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.