Oil services group Velosi (tipped here in December last year at 97.5p) last week announced it had won five new contracts. The biggest is a four-year contract with BP Indonesia for integrity management and documentation worth $4.7 million (£2.3 million). The others span a range of services in a variety of countries.

The share price has been a touch weak of late, but the announcement sparked a modest rally to 122.5p. The interim figures are due to be announced on 24 September. Velosi’s broker, Charles Stanley, has a 12-month target of 170p. Hold.

Velosi	AIM	£23.09m	55.00p	0.00p
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Other company articles:
Revenues ‘strong’ at Velosi			22/07/2008
Velosi on course for target			28/09/2007
Velosi wins five new contracts			31/08/2007
Velosi ‘in line’			27/07/2007
Velosi expansion pays off			23/07/2007