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Solo Oil and Horse Hill #investments

Solo Oil post

Solo Oil suspended

Solo Oil provided us with a bit of excitement this week when their shares were suspended on the London Stock Exchange pending an announcement. I think some private investors were checking out Ferraris on Auto Trader!

In the end the news wasn’t as good as many thought it might be. The well at Horse Hill has been reassessed by a company called Schlumberger and their analysis confirms what the Nutech analysis showed. There is significant oil there, but it’s early days yet. The RNS said “evaluated the unconventional oil potential of the Horse Hill-1 well.” The important words to notice are potential and unconventional. I understand from another information source that there could be more news before the end of this month and so Solo is still an opportunity to buy. The spread at the time of writing is over 9% and the ask price is 0.60p, but given the potential might still be good value.

Meanwhile, Verona Pharma is doing well for me this week. It’s up 10% this morning, but I expect there will be some profit taking later. Their new drug has done well in clinical trials and has no side effects. Pharmaceuticals is now a more precise science because of computers and so worth investing in.

Over the wider London Stock Market, things weren’t quite so good. It seems those popular shares that make up the FTSE 100 weren’t quite so popular.  I bought Taylor Wimpey in August  2013 at the same time as I bought Solo Oil. I bought at 100.38 and they are up to 185.1, so that was good timing. I’m not sure how house building will go now, but they do pay a special dividend so that’s a bonus.

Premier Foods is still a disappointment, but I think they will take off soon. The ask price is 41.25 this morning and the directors paid an average of around 81p for their shares, so at least we know they will be doing their best to get the company performance back to what it was.

RSA insurance under the Stephen Hester’s leadership doesn’t inspire confidence. It seems the asset stripping is continuing, but we need to see some profits. Maybe they can invest in a more profitable way? There seems to be a lack of innovation in banking and insurance these days.

Overall, I’m looking more at the FTSE 250 rather than the safe harbours of the FTSE 100 now. The choppy waters of the AIM market also seem to be a good place to find little treasures…

That’s all for this week. If you’re a small investor, try to be good and if you can’t be good – be careful. Next week, I hope Verona Pharma will be a double bagger for me and maybe Graphene Nanochem will start to pick up a little to add to the excitement.  I think Solo Oil will be really exciting later in the month too.

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  1. Pingback: Time for change #review | Mike10613's Blog

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