13 Jun 2010

Desire?

I'm also thinking of a position in Desire Petroleum. They have their second drill site quite near RockHoppers site and I feel they were unfairly punished when their first well came up dry. We now know that oil exists in the Northern Basin so this could be a good chance to pick up some shares in Desire while prices are depressed. I'm also locking away £1000 in BP as they have been smashed by the news and whilst they may still go down a little more I believe most of the news is now in the price. They are still a huge company and even if they do scrap the dividend thru political pressure - they will be back into super profits next year! Load up while they are cheap, (Edit: but only on supportive bullish price action on the weekly chart I forgot to say!!)