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Penny Share Review 333

18 April 2006

The Daily Telegraph today featured an article concerning avoidance of “the dogs” on AIM now that nearly 1,500 companies are quoted. Kevin Doran of Brown Shipley offered readers advice, such as looking at fundamentals and named Coffeeheaven (COH) as an organisation that might fail the ‘sound finances’ hurdle due to its rapid use of cash. However, despite this view, the shares remained at 22.25p this morning.

The Business this weekend suggested that, according to results published earlier in the month, shares in Chelford Group (CHR) remain “remarkably cheap”. The upbeat article went on that the Company had shown consistent organic growth, while also successfully integrating bolt on acquisitions. Positive cash generation was highlighted and the piece concluded with a forecast of £19.2m for revenues this year and £21m next time with a year-end price target of 450p, rating the shares as a “Buy”. The shares were unchanged at 277.00p during Tuesday morning’s session.

Europa Oil and Gas (EOG) appeared in Friday’s Express, which commented that the shares had moved forwards on anticipation of a positive update later in the month. This momentum seemed to spill over into this morning’s session, where the shares added 8.00p to 35.00p.

The Daily Express on Friday reported “brisk trading” in the shares of Screen FX (SFX) and attributed this to the expectation of positive feedback following the recent fundraising. The shares were unchanged at 1.25p this morning.

Tuesday morning prices were taken at around 10.00am on 18 April 2006.

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.

Black Rock Oil (BLR): Placing.

Cambridge Mineral Resources (CMR): Change of Advisor.

Emerald Energy (EEN): Final Results.

Matra Petroleum (MTA): Matra Spuds Blue Topaz-9.

MediSurface (MSR): Interim Results.

Pentagon Protection (PPR): Board Changes.

Sopheon (SPE): Final Results.

Thor Mining (THR): Duel Listing on the ASX.

Look out for this week

Tuesday 18 April – Final Results from Emerald Energy (EEN) and Sopheon (SPE). Interim results from MediSurface (MSR). RCIS House Price Survey (March).

Wednesday 19 April – Bank of England MPC Meeting Minutes (April).

Thursday 20 April – March CPI.

Friday 21 April – Nothing of note.

The next Penny Share Review will be posted on Monday 24 April 2006.

Compiled by Chris Richards.



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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, Hoddeson, Herts. EN11 8TS. City Equities Limited is Authorised and regulated by the Financial Services Authority. Registration No. 155051.