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Columbus Energy - we tip this a 3rd time - a buy worth 3.5p

By HotStockRockets | Saturday 8 July 2017

Disclosure: Financial Investigative Media Limited, which is not owned by Tom Winnifrith but by a trust for his dependants, owns shares in companies mentioned in this article. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

We tipped these shares a couple of weeks ago for a third time. The shares are now 2.7p in the middle and so even at the bid we are up on this one. But our target to sell at 3.5p+ so there is more to go for. Our original share tip reads:

Our next share tip? Yes its Columbus Energy (CERP) - formerly LGO - for a third time this year. The offer to bid gains so far have been 70% ( in 12 days) and 66% ( in four weeks). The shares are now 2.4p to 2.45p and so our buy tip is at 2.45p and at up to 2.65p - the target to sell is 3.5p. So what's new?

1. The share price has drifted back for no reason at all. We suspect that some punters who look back fondly on the days of a ramptastic RNS every week from Dave Lenigas/Neil Ritson do not understand the new regime. The final bits of the last placing have also been digested.

2. New boss Leo Koot has been in Trinidad. The word on the street is that we will get news soon on a recommencement of the waterflood drilling campaign there.

3. BP's activities of the South West peninsular continue apace and its commitment to the region is clear. We do expect some interesting developments here soon and on the "nearology" basis that is bound to assist.

4. Finally, Koot's ambitions are not limited to Trinidad. We believe that there are other developments in the pipeline ( no pun intended) and that the newsflow on that scale will crank up over the summer.

The trade is to buy today at 2.45p and at up to 2.6p with a target to sell of 3.5p+ before the summer is out.

This article first appeared on HotStockRockets - to catch the next red hot share tip from the HotStockRockets team out shortly for just £5 click HERE

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