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Share of the week from The Share Centre 27 September 2011
As recent market volatility causes international gas production and marketing company BG Group’s share price to fall Nick Raynor, investment adviser at The Share Centre, picks it as his share of the week.
“BG Group continued to impress as Q2 figures showed the Group’s profits beat expectations comfortably and the story from its Brazilian operations continue to get better and better.
“Production has commenced from its Santos Basin and the first one million barrels have been extracted. The flow rates from the well are much better than expected and as a result other wells will not be required, reducing the costs of the development dramatically, hence the improvement in profits. Also, in June the Group doubled its estimate of how much oil there might be in this site, which sits 300km off the coast of Brazil.
“Investors should also note there has been plenty of speculation that Sinopec and China National Petroleum Corp are among the firms rumoured to be potential investors looking to take a stake in BG Group. The Brazilian assets are becoming more attractive and we know Chinese companies are looking to spread the net in their search for commodities.
“Recent stock market upheaval has seen the Group’s share price fall to a low, not seen since November 2010 and at the moment we believe this is good value for the longer term investor.”
THIS DATA IS PROVIDED BY THE SHARE CENTRE. THIS IS NOT INTENDED TO CONSTITUTE AN OFFER OR AGREEMENT TO BUY OR SELL INVESTMENTS.
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