With everything that is going on in Iran this weekend and the potential for that to spread, it is hard to see how the price of oil isn’t going to spike upwards, even if just temporarily.
Whilst I know the mere mention of operating in Nigeria is enough to send some investors running for the hills, if you can look past that then it is easy to see the potential for Seplat Energy (SEPL) to perform well in the coming years.
Some investors are very wary of anything to do with Nigeria, especially when it comes to oil and gas, but Seplat (SEPL) has been operating successfully there for a long time and the company looks like it will continue to grow at the impressive rate we’ve seen so far.
Nigeria isn’t my first choice of location when looking at investing in oil and gas companies due to some of the issues that foreign investors have had over the years, but if you’re bullish on the sector, then I can currently see value in shares in Seplat Energy (SEPL).
The daily chart of Seplat Petroleum illustrates some of the issues that investors are facing in the oil & gas space, with the starting gun on the latest phase of recovery here being a narrow bear trap reversal.
