how about some info about emerald?trades today 4mln buys 1mln sell.is it just me or is their demand for this share?why does the price not move?I,m new to this caper!cheers.

it will kick off... i think a lot people got burnt in this one but the bulls will see all oil stocks are running up..... give it few more days.

U.S. stock futures lower as crude prices rise
Tue 6 July, 2004 14:21

(Updates futures, adds new comments)

NEW YORK, July 6 (Reuters) - U.S. stocks futures pointed to a lower opening for Wall Street on Tuesday as investors worried about corporate profits following a jump in crude oil prices.

In addition, chip stocks could be under pressure after Conexant Systems Inc., the third-most active stock on the INET electronic brokerage in early trading, lowered its quarterly earnings forecast.

U.S. light crude rose in the first electronic trading since the weekend sabotage attacks on Iraqi oil pipelines cut exports. Crude prices, at $39.21 in New York, are also being pushed higher amid concerns about possible disruptions to Russian and Nigerian supplies.

Crude oil is a component of almost every sector of the economy, including manufacturing and transport, and higher oil prices immediately erode corporate profits.

"I see the markets starting off down because crude oil is down, Weston Boone, vice president of listed trading at Legg Mason Wood Walker in Baltimore said. "Geopolitical events are weighing on the market, and in addition we are starting earnings season -- so the question is will profits be as rosy in the second quarter?"

S&P 500 futures for the September contract fell to 1119.80, or 4.68 points below fair value.

Dow Jones industrial index futures fell 44 points, while Nasdaq 100 futures slipped 12 points.

"The reason why we are down today is the continued unrest in the Middle East and the prospects that energy prices do not seem to decline," John Person, head financial analyst with Infinity Brokerage Services, said.

"After last week's Fed rate hike, higher oil prices and slower economic indicators such as the jobs number will be the real issues investors are faced with right now," Person added.

Democrat John Kerry's decision to appoint North Carolina Sen. John Edwards as his vice presidential running mate was seen as slightly negative for the market.

"I think its probably positive for Kerry which is therefore probably negative for the market ... Wall Street is traditionally a conservative community," Boone said.

This week's Investor's Chronicle suggested that it is a good investment and more oil drilling is taking place.
Since the Campo Rico #1 well was put on long-term test in May 2004, the company's oil production has increased significantly. For the first six months of 2004 the average daily production rate was 874 barrels per day compared with an average of 714 barrels per day for the year 2003. On the 30th June 2004, production reached 1426 barrels per day.

in all seriousness, do you think those kind of production numbers justifies the outlandish capitalisation of the company?

Of course....proptrade. Look at its price now.

well on it's way to 200p looking good so far :-)

windys160: Could be! Max online buy is currently 750 shares.

i still stand by my negative stance. give it a week or two and the volume will dry up to zero and the stock will be close to 100p than 200p...

the volume seems to be increasing at the moment, so there must be some people out there who see the potential of this company, blue sky all the way i say :-))

a good few sells going through at the moment!!!
Fingers xed for more blue...

Hope these buys pick up today!

Emerald Energy H1 production up 19 percent


LONDON (AFX) - Emerald Energy PLC reported a 19 pct increase in production in the six months to end-June to 159,000 bbl of oil, up from 134,000 bbl in the same period last year.

It said the increase was helped by bringing the Campo Rico well into production quickly. This brought current production from the company's two wells to about 1700 bopd.

Emerald's EBITDA for the first half was 902,000 usd on revenue of 4.5 mln usd compared to 251,000 usd on revenue of 3.0 mln usd.

The group said it has a strong balance sheet with net cash of 6.4 mln usd at the end of June and it is actively evaluating new exploration acreage in Colombia and projects outside Colombia.

Chairman and chief executive Alastair Beardsall said the successful start of production from the Campo Rico field supported by strength in the international oil prices demonstrates the potential of the company's existing assets. He said the acceleration of the group's drilling programmes should earn Emerald recognition as an active and successful player in the Colombian E&P sector.

Beardsall added that increased production should contribute positively to the company's future financial results, particularly at the prevailing oil prices.

newsdesk@afxnews.com slm/

Any ideas why a 10% drop in SP - looks like many small investors taking profits but am I missing something else ?

i think it is a valuation issue...this is trading way way above its peers...

who are its peers ?? and doesnt a growth stock have a big valuation ?

looks like last week was just a pause from breath

Investor's Chronicle advised it is a buy

Is EEN going to continue to rise like this do you think?

Did this share realy go from 10p to over 1 in a matter of days or did something else happen? I heard something about "consolidation"?

There was a 100 for 1 consolidation I think.

I was going to say!! that was a mad boat to miss if it wasn't!!