I recently covered Serinus Energy (SENX) as a speculative buy based on the likelihood that the results for the first quarter would be good and the company would have benefitted from high commodity prices and fairly low Capex.
It isn’t really surprising that any companies operating in the region where the current conflict between Russia and Ukraine is going on have taken a big hit to their share price since it all kicked off, but that can also present opportunities as long as you are prepared to take on the risks associated with that.
I’ve previously written here about the attempts by some to manipulate the share price of Oilex (OEX), and particularly with regards to an upcoming placing, but that will come to an end now that the company has released the actual details.
Serinus Energy (SENX) shares have performed pretty badly, considering that oil and gas is currently in a bull market, but I believe that the next set of operational and financial results could be a turning point for investors.
A couple of weeks back I wrote a piece here about how I was excited about the prospects of a small AIM oil company, Afentra (AET), where I hold a stake myself and which had just announced that it had potentially secured a stake in two blocks, subject to final due diligence. The company has now announced that it has entered into a sale and purchase agreement with the vendor, Sonangol, and has released a lot more information on the finer details of the proposed transaction – including the fact that it is expected to be funded from existing cash balances plus debt, and with no equity dilution to existing holders in order to complete the deal.
At one time I quite liked the look of Hummingbird Resources (HUM) and its gold mining operations, but unfortunately, like so many AIM listed resource stocks, its potential looked better than what it hasactually turned out to be!
A couple of weeks back I wrote a piece here about how the share price of Oilex (OEX) was being manipulated, with all sorts of claims being made from some people about being told information that wasn’t in the public domain.
The share price of 888 Holdings (888) has remained pretty weak during the completion of its acquisition of William Hill, and as a result of revenue in the final quarter of 2021 showing a substantial fall.
Over the weekend reports emerged in the Angolan press that its national oil company, Sonangol, had finally completed the bidding process for the licences that it was selling its stakes in, and that a small AIM company, Afentra (AET), had been successful in being selected for two of these blocks. I’ve been invested in Afentra for some time – as well as having covered it positively several times here going back to the days when it was called Sterling Energy, and like many others have been patiently waiting for some news whilst the shares remained suspended. Due to the size of any transaction resulting from its bids, it will constitute a reverse takeover and the shares were suspended accordingly, and will remain so until either a prospectus is published or it terminates its bids for the Sonangol assets.
The performance of CMC Markets (CMCX) has been pretty disappointing in recent times, but now there are some signs of its financial performance improving and a potential demerging of the business on the horizon.
