I spent two years working along Sam Bottell as he worked with minesite.com and oilbarrel.com and he is a good, honest and clever chap. Now that he is starting his career freelance writing as well as an organiser of the UKInvestor Show I have no hesitation in helping him along via this blog as a guest contributor. As such I bring to your attention a share tip from TradingResearch Point on Madagascar Oil.
AIM listed Madagascar Oil (MOIL) had well publicised funding issues in the second half of last year caused by $17 million cost over-runs on the development of its Tsimiroro heavy oil field in Madagascar. However, boardroom changes have been made and today it has announced the completion of a placing and open offer (62.6% taken up) at 18p raising £49.5 million, which allows it to put its problems behind it and allows investors to look at what its assets are actually worth. Is a £100 million market capitalisation at 19p harsh? I think that it is.
on TradingResearchPoint | Comments