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Soco International: Mongol hoard

Article Abstract:

SOCO International plans to raise 39 million pounds sterling in order to fund exploration in the Tamstag Basin, Mongolia. The company has hit oil with three of five wells sunk in Mongolia. The company was set up from a merger of parts of Cairn Energy with the international operations of Snyder Oil. SOCO estimates that its stake in Tamstag is worth $56 million and this could increase if reserves are more than expected. The company maynot be aided by problems facing other companies operating in the former Soviet Union.

Crude Petroleum and Natural Gas Extraction, Crude petroleum and natural gas, Oil & Gas Fields, Natural gas fields, Oil fields, SOCO International

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BP pauses for breath

Article Abstract:

Shares in British Petroleum have seen a rise in value in the two years to 1995. Four UK stock brokers recommend buying the shares, while one recommends selling them in Mar 1995. NatWest Securities and Warburg Securities advise buying shares in British Petorleum, while Charles Stanley recommends selling the shares. The company's results, and in turn its share price will depend on the price of petroleum. The company itself forecasts a price of $16 per barrel in 1996, which is a conservative estimate.

Petroleum, Petroleum and Coal Products Manufacturing, British Petroleum Company p.l.c

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Paladin Resources

Article Abstract:

The outlook for UK oil exploration and production firm Paladin Resources is uncertain and investors are advised to sell Paladin shares. Paladin is vulnerable to falls in the oil price, and it also suffers because it does not control any of its fields.

OIL AND GAS EXTRACTION, Oil & Gas Extraction, Gas industry, Petroleum mining, Paladin Resources

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