Unfortunately Red October striked again!!! We all had different ways of coping with it. Hopefully it is a case of "what doesn't kill us makes us stronger!!!".
For the November 2014 “>20%” monthly oil stock competitions, which oil stocks will have the greatest move for
(i) >20% gain?
(ii) >20% loss?
You may enter two stocks, one for (i) and one for (ii). More than one person may enter the same stock. The deadline for the October competition is midnight on Sunday 2 November 2014. Results will be posted on this thread asap after the November month end.
Good luck!!!!
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Quite tough to choose this time. Of course everything has sold off like crazy in October and the oil price is much lower. But many seem to think that the market can go lower still......
.......so I'm just tempted to go against the consensus view here, both in relation to the oil price and to the expectations of E&Ps continuing under pressure.
As usual, I'm ignoring situations where I could be conflicted, but I think there is a decent prospect of SOCO International (LON:SIA) turning in a +20% from some combination of the following:
- test results from LXM-101well (ENI this week added another 1bn boe to the 2.5bn boe it has immediately adjacent)
- IMS - update on TGT drilling, reserves timeframes and perhaps production outlook and/or dividend plans for 2015
- M&A approach (ENI looking to expand in Vietnam, see today's FT, and doubtless there are other opportunists out there)