Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Hang onto Fastnet Oil and Gas

By James Parter

5 December 2014 04:04

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Today I take a look at one of the tips that has not gone so well to say the least. With the crude oil price cratering, so too has the share price of Fastnet (FAST), but it did not shed the majority on the back of the oil fall. Instead it decided to tank on the back of a comment by Chairman Cathal Friel to the press where he said that a return of cash and move into the medical sector could happen because of the oil price. The share price slumped 40% on that announcement which is an over-reaction and here is why.

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Comments

wildrides

5 December 2014, 04:32

Good piece ………… I like the fact its at a discount to cash and the management are very good here . I dont think its so much a “management clanger” as sentiment to exploration at the mo. Lansdowne has done the same in the same time scale ie 12p down to 8p
Anyway I picked up a few more as its so cheap and the management will be good in what ever sector if they choose to move.
Anyway I am loving the fact Putin is getting absolutely crushed, which more than makes up for my paper losses .
tabby

8 March 2015, 11:47

Is it worth an update on this ??