Looks like the foolish are bailing out of Xcite into Xtract energy (XTR) this morning. Lots of bulletin board posts about Xtract but I think I'll stay put in Xcite.
Why would I move my precious £'s out of Xcite when they have a 200 million barrel field in the North Sea (possibly up to 500 million barrels) which will go into production this year at a rate of 60,000 barrels per day! Whereas with Xtract Energy you are not going to get close to this for years. Plus it's not a core holding for Walter Energy (who recently acquired Western Coal, the previous owners of Xtract) since they are a coking coal specialist. I would bet on a divestment rather than a big investment by Walter.
Mad, but what does Contrarian Investor uk know! Classic "pump and dump", be careful out there!
Contrarian Investor UK invests mainly in UK FTSE and AIM listed shares. Like famous contrarians, Warren Buffett and Anthony Bolton, he likes to take a different view to the crowd of investors. He prefers the short term, possibly speculative trade, to the long term hold and takes the view that it's about "buy and research" not "buy and hold"! This blog tracks Contrarian Investor UK's thoughts on the stockmarket and his portfolio's trades. Move against the herd with the Contrarian Investor UK!
Trades and observations from a British contrarian stock investor
This blog is not intended to give financial advice. Before investing, do your own research and consult your financial adviser if appropriate. The accuracy of any information included is not guaranteed and may be subject to conjecture or interpretation by Contrarian Investor. Therefore visitors should validate all facts using alternative sources where possible.
Showing posts with label xtract energy. Show all posts
Showing posts with label xtract energy. Show all posts
Monday, January 24, 2011
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