The team at Shareprophets regards all three stocks in our takeover t1ps for 2014 as potential bid candidates for very different reasons. We are not saying that bids will come but we would not be surprised if they did before next Christmas, or possibly sooner. Third up is an oil stock that is trading at 10.5p and is valued at £55 million – Madagascar Oil (MOIL).
In a detailed note on oil in Africa published last week, investment bank Ecobank sounded a bullish note on developments in Madagascar and also0 on the prospects for AIM listed Madagascar Oil (MOIL).
Our very own penny stock resources guru Doc Holiday has challenged our friends at Mining maven to a share tipping contest. Today is day three. C’mon Doc:
Madagascar Oil (MOIL) has today confirmed a raft of board changes. We kind of knew these were happening anyway – it was part of the deal for the semi-emergency refinancing agreed earlier this year. Will that be enough to amend the 18 month downtrend in the shares which closed today up 10% at 10.5p valuing the company at £61 million?
It has been quite a long wait as far as bulls of Madagascar Oil have been concerned in the sense that their stock has been bumping along the bottom since late March.
