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Emerald Energy


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Another FTSE 250 oil stock worth watching. I would like to see a pullback, but they have just produced excellent results and seem to have a steady track record performance despite recent market turmoil.

 

http://www.sharecrazy.com/share2607share/s...re&epic=EEN

 

Shares in Emerald Energy (EMEN.L) gain 4.5 percent as the oil and gas explorer unveils a six-fold jump in full-year profit as revenue nearly doubled, and says it expects material increase in production in Colombia and Syria before the end of 2009.

 

Evolution Securities, which rates the stock as "buy" with an 800 pence target price, highlights in a note that Emerald is one of only a handful of exploration and production companies with low cost production generating cash flow even at current oil prices (the broker forecasts $50 to $55 million in 2009).

 

http://uk.reuters.com/article/hotStocksNew...G22947020090316

 

* Full-year revenue $86 mln vs $44.4 mln year-ago

 

* Says strong balance sheet supports 2009 business plan (Adds details)

 

March 16 (Reuters) - Oil and gas explorer Emerald Energy Plc (EMEN.L) reported a six-fold jump in full-year profit as revenue nearly doubled, and said it expected material increase in production in Colombia and Syria before the end of 2009.

 

Business plan for 2009 is supported by strong balance sheet and cash flow generation from producing assets in those countries, the South America and Middle East-focused company said on Monday.

 

"The volatility of the oil price seen in 2008 has now moderated but we now face the uncertainty of the impact from the slowing global economy," Emerald said.

 

However, these events, whilst unsettling for many in the short term, will not affect its short-term or longer-term plans, it added.

 

For the year ended Dec. 31, 2008, Emerald posted a pretax profit of $52.45 million, compared with $8.58 million a year ago, as revenue nearly doubled to $86 million.

 

The company said it had cash and cash equivalents of $74 million as at Dec. 31, versus $40 million in 2007.

 

http://www.reuters.com/article/rbssEnergyN...G46574920090316

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  • 7 months later...
Another FTSE 250 oil stock worth watching. I would like to see a pullback, but they have just produced excellent results and seem to have a steady track record performance despite recent market turmoil.

 

http://www.sharecrazy.com/share2607share/s...re&epic=EEN

 

Surprised you never commented much on these. Was looking at the new directors of SEY earlier and noticed this thread.

 

Did you wait too long or are you quietly celebrating the 750p chinese take-away?

 

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Surprised you never commented much on these. Was looking at the new directors of SEY earlier and noticed this thread.

 

Did you wait too long or are you quietly celebrating the 750p chinese take-away?

It has been neglected and like some other threads on specific stocks it can feel like you are talking to yourself if you are the only one posting on it. I'm not sure that there are many here interested in FTSE 350 stocks?

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It has been neglected and like some other threads on specific stocks it can feel like you are talking to yourself if you are the only one posting on it. I'm not sure that there are many here interested in FTSE 350 stocks?

 

The sad thing about GEI is that outside of the main discussion board it does get a bit quiet, with one or two honourable exceptions

 

Still there are some here who do dabble occasionally in smaller stocks, myself included.

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