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Penny Share Review 460

Monday 29 September 2008

The Mail on Sunday featured a large article on Hill Station (HLL) this week. The piece drew attention to the suspension of the shares and resignation of the Finance Director and Nominated Advisor. It provided a history of Loseley ice-cream, which was bought by the Company, and reported that luxury ice-cream was a fast growing category, despite the credit crunch, suggesting that problems were due to inability to compete with the likes of Ben & Jerry’s and Haagen Dazs. The shares remain suspended. Meridian Petroleum (MRP) was ‘tiddler to watch’ in The Times on Saturday, after Director buying followed news of a maiden interim profit from the Company. The price was 0.375p better off at 6.875p earlier today.

Increase in the price of shares in Minco (MIO) followed news that the Company was optimistic regarding the medium to long-term price outlook for zinc, given limited supply and “robust Chinese demand”, according to the weekend’s Financial Times. The shares were unchanged at 3.25p earlier.

Derek Pain’s “No Pain, No Gain” section of The Independent included Nighthawk Energy (HAWK) on Saturday, which commented that the shares had failed to respond to encouraging developments in America. Mr Pain noted the fall in the shares from their peak, suggesting this was due to ongoing stock market torment along with the fall in oil prices, but reported his surprise that the shares had not demonstrated more resilience. He went on to outline the potential upside in Missouri and Kansas, quoting Daniel Stewart’s price target of 130p and Growth Equity and Company Research’s valuation of 173p. The share price was 1.00p healthier at 49.00p during earlier trading today.

Northern Petroleum (NOP) appeared in the Daily Express on Saturday, under the headline “Time may be right to tap into oil explorers.” The article noted that broker Daniel Stewart sees potential for similar size exploration and production organisations to merge, suggesting the Company could be a consolidation candidate. However, despite this press attention, the shares were 9.00p lower at 90.00p this morning.

The Financial Times commented at the weekend that shares in Rift Oil (RIFT) had increased in value after the Company pointed out it was ‘very pleased’ with initial testing at Puk Puk. Nevertheless, the price was 0.625p weaker at 5.00p following this press comment.

Prices above were taken at around 10:30am on Monday, 29 September 2008.

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 Eagle (AFE): Further Positive Drilling Results.

Business Control Solutions (BCT): BCS OCA Upgrade.

Centrom (CET): Half-Yearly Report.

CoffeeHeaven International (COH): Holdings in Company.

Condor Resources (CNR): Interim Results.

Dermasalve Sciences (DRM): Update.

Discovery Metals (DME): Annual Report & Accounts and Information Update.

Eckoh (ECK): Holdings in Company.

Encore Oil (EO.): Farm Out – Blocks 28/9 and 29/10c.

Eurasia Mining (EUA): Interim Results.

Galleon Holdings (GON): Super Soccer Star – Malaysia Agreement.

Hidefield Gold (HIF): Half-Yearly Report.

Infonic (IFNC): Interim Results.

Intandem Films (IFM): trading Statement.

Intelligent Environments (IEN): Interim Results.

Irvine Energy (IVE): Holdings in Company.

MeDaVinci (MVC): Preliminary Results.

Origo Sino India (OSI): Interim Results.

Pantheon Resources (PANR): Drilling Update.

Persian Gold (PNG): Interim Results.

Petards Group (PEG): Update on Refinancing and Trading.

Resources In Insurance (RIIG): Interim Results.

Sound Oil (SOU): Interim Results.

Surgical Innovations (SUN): Interim Results.

Vialogy (VIY): Projects Update.

VYKE Communications (VYKE): Disposal.

Look out for this week

Monday, 29 September – Results from Centrom (CET), Condor Resources (CNR), Discovery Metals (DME), Eurasia Mining (EUA), Hidefield Gold (HIF), Infonic (IFNC), Intelligent Environments (IEN), MeDaVinci (MVC), Origo Sino India (OSI), Persian Gold (PNG), Resources In Insurance (RIIG), Sound Oil (SOU), Surgical Innovations (SUN). UK Mortgage Lending and Consumer Credit (August).

Tuesday, 30 September – UK GDP Second Revision and Current Account (Q2).

Wednesday, 1 October – UK Manufacturing PMI – Output Prices. US ADP Employment Survey (September).

Thursday, 2 October – UK Nationwide House Price Survey and Bank of England Credit Conditions Survey.

Friday, 3 October –UK Services PMI. US Unemployment Rate (September).

The next Penny Share Review will be posted on Monday, 6 October 2008.

Compiled by Chris Richards

Penny Shares Online - penny shares research and information service.




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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.

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