Wall Street Investor's Chronicle August 2010
Shares in the recently trouble oil and gas independent Shiloh Oil soared yesterday on news that teh Chinese State Oil Company EnCathay had acquired a 25% shareholding in teh company through steady but surreptitious purchases in recent months.
"Shiloh is highly respected for its technical expertise," says noted analyst Jasper Shrigg, "and even more valued for its holding in the Grimshawe Landing LNG Terminal - teh only one of its lkind on teh US Lower 48 West Coast. This deal potentially given EnCathay an entree to teh highly profitable US LNG market."
he expectation in investors is that EnCathay will hope to increase its holding in Shiloh. "They're backed by the Chinese Government," says Jasper Shrigg, " and money isn't a major concern. They'll be ready to pay top dollar if they want to get more shares. And investors are flocking to the share for that reason, before it climbs higher."
In very active trading Shiloh closed yesterday at 6.81, with every prospect of going higher in the coming days.
Recommendation: BUY!
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