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Hot Stocks: Investors flee Aminex after Tanzanian well update
Oil and gas company Aminex was sold off by private investors, according to data from Selftrade.
Markets
by Chris Marshall on Apr 13, 2012 at 08:01
The week's most actively bought investments
| Stock | Buys in last 7 days* | Type | Sector | Tools |
|---|---|---|---|---|
| Aviva PLC | 242 | Share | Nonlife Insurance | AlertsPortfolio |
| Lloyds Banking Group PLC | 232 | Share | Banks | AlertsPortfolio |
| Barclays PLC | 232 | Share | Banks | AlertsPortfolio |
| BP PLC | 204 | Share | Oil & Gas Producers | AlertsPortfolio |
| Royal Bank of Scotland Group PLC | 160 | Share | Banks | AlertsPortfolio |
| Vodafone Group PLC | 132 | Share | Mobile Telecommunications | AlertsPortfolio |
| Tesco PLC | 130 | Share | Food & Drug Retailers | AlertsPortfolio |
| Ishares Plc | 119 | ETF | Equity Investment Instruments | AlertsPortfolio |
| Aminex PLC | 115 | Share | Oil & Gas Producers | AlertsPortfolio |
| Xcite Energy Ltd | 109 | Share | Oil & Gas Producers | AlertsPortfolio |
Source: Selftrade. *Data is as at market close last Wednesday.
The week's most actively sold investments
| Stock | Sells in last 7 days* | Type | Sector | Tools |
|---|---|---|---|---|
| Lloyds Banking Group PLC | 95 | Share | Banks | AlertsPortfolio |
| Aminex PLC | 90 | Share | Oil & Gas Producers | AlertsPortfolio |
| Gulf Keystone Petroleum Ltd | 71 | Share | Oil & Gas Producers | AlertsPortfolio |
| Barclays PLC | 64 | Share | Banks | AlertsPortfolio |
| Range Resources Ltd | 61 | Share | Oil & Gas Producers | AlertsPortfolio |
| Vodafone Group PLC | 61 | Share | Mobile Telecommunications | AlertsPortfolio |
| JJB Sports PLC | 61 | Share | General Retailers | AlertsPortfolio |
| Red Emperor Resources NL | 59 | Share | Oil & Gas Producers | AlertsPortfolio |
| Thomas Cook Group PLC | 58 | Share | Travel & Leisure | AlertsPortfolio |
| Royal Bank of Scotland Group PLC | 48 | Share | Banks | AlertsPortfolio |
Source: Selftrade. *Data is as at market close last Wednesday.
Investors flee Aminex
Oil and gas company Aminex was sold off by private investors in the past week after the company drew disappointing results from a drilling update in Tanzania.
The company, which had excited investors with news of a gas discovery in the East African country in February, drilled down to find ‘encouraging gas readings’ from 2,850 to 3,150 metres, but a deeper target didn't yield the reservoir potential hoped for.
Aminex’s share price sunk on the news, dropping 25%. Shares are now trading at 4.5p.
The shares, which are listed on both the London and Irish stock exchanges, were among the most actively sold by customers of stockbrokers Selftrade (shown above) and TD Direct Investing. They also featured among the most popular searches on Google Finance.
Bargain hunters also moved in, with the company featuring among the most actively bought investments on the Selftrade platform in the past week.
The shares have been hit hard over the past four years, falling from a high of 22p in 2008.
Craig Howie of Shore Capital Stockbrokers, which acts as joint broker for the company, wrote in an update that he was ‘quite relaxed’ about the result. He reckons Aminex’s plans to expand the portfolio in Africa ‘could prove to be a potent combination of steps which aim to transform Aminex into a leading player in African exploration and production’.
The company remains a ‘buy’ according to brokers Fox Davies.
As well as Tanzania, the £37.45 million company’s main focus is the onshore Gulf Coast of Texas and Louisiana in the US, with additional exploration projects onshore Egypt and offshore the Korean Peninsula.
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Look up the shares
- Aviva PLC
- Lloyds Banking Group PLC
- Barclays PLC
- BP PLC
- Royal Bank of Scotland Group PLC
- Vodafone Group PLC
- Tesco PLC
- Aminex PLC
- Xcite Energy Ltd
- Gulf Keystone Petroleum Ltd
- Range Resources Ltd
- JJB Sports PLC
- Red Emperor Resources NL
- Thomas Cook Group PLC
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1 comment so far. Why not have your say?
daramy via mobile
Apr 13, 2012 at 19:02
I've been following a lot of the smaller oil & gas companies on both the east & west of Africa. Bowleven still remains one of the best !
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