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Penny Share Review 300
22 August 2005
Press
The ‘Week in Review’ column of Saturday’s Independent repeated last week’s recommendation for African Eagle (AFE), following promising exploratory drilling in Tanzania. The Company’s focus on relatively stable African countries was viewed as a plus point. The paper concluded the “shares are a punt, but this looks like a good one”. The shares traded unchanged at 21.00p on Monday morning.
The Sunday Telegraph advised its readers to take their 80% profits in Egdon Resources (EGD.L), given the recent strong run in the shares, after first tipping the oil and gas explorer back in May at 33.75p. Despite the sell advice, the paper remained upbeat about prospects, saying Egdon looks “well positioned for solid growth”. The stock retreated by 4.5p on Monday to 56.50p.
The new movie ‘Stoned’, which is about the late Rolling Stones guitarist Brian Jones, gained a mention in Monday’s Daily Express, following its premier at the Edinburgh International Film Festival. The article, which was in the non-business section of the newspaper, did not mention that AIM listed Intandem Films (IFM) is the Executive Producer for the film, which is due for nationwide release on November 11. The shares remained unchanged on Monday morning at 3.25p.
Monday morning prices were taken near to 9.45am on 22 August 2005.
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.
Ariana Resources (AAU) – Scoping study starts.
Coolabi (COO) – Final Results.
Northern Petroleum (NOP) – Drilling update.
NMT Group (NMT) – Interim Results.
Meridian Petroleum (MRP) – Acquisition.
Look out for this week
Monday 22 August – nothing of note.
Tuesday 23 August – nothing of note.
Wednesday 24 August – CBI industrial trends survey.
Thursday 25 August – UK motor vehicle production.
Friday 26 August – UK GDP for second quarter.
The next Penny Share Review will be posted on Tuesday 30 August 2005.
Compiled by Jason Robertson
Penny Shares Online - penny shares research and information service.
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.
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