Few oil stocks selected so I'll go with VPC. Currently on an earnings play for 2006 of 4 with likelihood of 3 for 2007.
They are ccurrently producing 45,000 boepd and this should rise to 55-60,000 by end of next year. numis recently upgraded reserves and made reference that VPC could not go on trading at just one times revenue for next year.
Seems Merrill Lynch and Bridgewell are more negative possibly that they do not believe the figures...
ZZZ
Edited 2/1/2006 thanks to madabout money...
Todays Telegraph...One of their tips for 2006:
Venture - talks about ignoring BP or Shell and if you want Capital Growth go for Venture Productions. Comments that its shares have underperformed its peers due to problems on its Trees fields during '02-'03. Says that it is a different company now with 11 fields in teh North Sea. Looking to produce 40,000 boepd in 2006 but it could be appreciably higher.
Mentions that the share price doesn’t take into account extra fields brought on-stream. Prospect of a special dividend or share buy backs from the high oil price. Now that N.Sea tax is fixed for three years, prospect of share buy back - stock is well placed to grow. Buy says Chris Hope of The Telegraph
