Young and Co's Brewery 24/05/2012
Pub giant Young and Co’s Brewery (YNGA) delivered a pre-tax profit of 17% amid restructuring, shedding assets and acquisitions.
Oilex
ADDIndia-focused Oilex has pleased investors with a hefty reserve upgrade to between 248bn and 591bn cubic feet of gas at Cambay in Gujarat.
Based in Western Australia and listed Down Under and on AIM, the company says this is the estimated range of net recoverable reserves attributable to its 45% stake in the Cambay field.
Steered by entrepreneurial Australian Dr. Bruce McCarthy, a former Cairn Energy luminary, Oilex has taken advice on the Cambay reserves from two North American experts, NuTech Energy Alliance and Morning Star. The company says it expects to submit data next month for an independent certification of these reserves early next year.
After falling from 83p in 2006 to a mere 4.75p within the past 12 months, Oilex shares have been rallying of late. Highlighted by Growth Company Investor at 7.5p last month, they have already bounced to 17p and should have further to go over the medium term.
Market cap: £37.4m
PE Forecast: n/a
Share price: 17p
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