Friday, 2 July 2010

7 month training update

Name                              Symbol   Last price Purchase price H1 2010

Minerva plc                   MNR         106               24                   15%

EMED Mining Public  EMED       8.25              10                  -15%

Caledon Resources Plc CDN         28                58                  -50%

Xtract Energy Plc        XTR           1.3               2.6                  -50%

Ascent Resources Plc AST          3.5               6.3                  -40%

Ithaca Energy Inc.        IAE          125               47                    45%
 Gulf Keystone              GKP          66                93                   -15%

Kopane Diamonds      KDD         12             13.25                 -15%

Dana Petroleum           DNX        1429          1420                     1%

FORTE ENERGY        FTE            7              10.25                 -38%
 Kenmare Resources  KMR          13             10                       30%

Sterling Energy plc   SEY            134           155                    -14%

XCITE ENERGY        XEL             69             48                      45%

Heritage HOIL Sold 570                   15%

Chariot CHAR Sold 70                   100%

Pan Pacific PPA Sold     .8                 5%

Churchill Mining CHL Sold 100    -15%

African Eagle AFE Sold 4.5            10%

Petra Diamonds PDL Sold 83          30%

Invista Real Estate IERE Sold 28     10%

This is my complete trading record for 2010 thus far. And pretty grim reading it makes too. At one point in April I was 30% up on the year and sitting pretty. Today I am exactly a 0%.
Also I have sold some winners, like CHAR, which doubled from where I sold, whilst topping up XTR, AST and GKP as they have fallen.
But, I remain long as a whole, many of these shares are set for huge news soon:
EMED - permitting news due Q3 2010 - if all goes well these could be 50p next year
MNR - Walbrook letting news will take these back to 130
CDN - massively oversold due to merger collapse, will recover (dog though, not putting more in)
XTR - oversold on a dry drill, better news due Q3 will see a strong recovery
AST - Collapsed on a dry drill - more in the works, so a good drilling programme could see this at 10p
IAE - Off its highs, a big long-term play for me, can see it over £3 in 2011/12
GKP - Iraqi government news will double the share price, good drills will quadruple it
KDD - news on takeover due, price 18p
DNX - recent buy, takeover at £18
FTE - news due re uranium drilling, very unhappy, which I had sold it, might recover towards 10p
KMR - massively undervalued, can see 20p here even in a bear market
SEY - Q3 drilling - shit or bust kudistan oil play
XEL - Like IAE, long term North Sea bet, delay on drilling timescales means time for top up.
if you wonder how I get to 0% - MNR and IAE are my biggest holding, closely followed by EMED and GKP. very sharp sliding scale down from there to XEL, AST, XTR and small holdings thereafter.


Steven_L said...

Have fun - still don't get these resource shares but that Minerva tip bought a fishing rod or two :)

Especially not sure about trying to buy Kurdish oil on the cheap - might be a special place in hell reserved for you on that one!

CityUnslicker said...

SL - they will all be fine, politics will get sorted soon. I hope...

James Higham said...

You're not standing for high office with this declaration, are you, CUS?

measured said...

Btw, Falklands Oil and Gas report their latest drilling results on Monday.

Have a good break. I hope you have to use less of the fake tan on your return. :-)