The CEO states Tullow sp is much too low and I bought in on the comments---todays results are excellent and I feel this one is being overlooked on here. check it out bargain hunters-I'd welcome some expert feedback!

Stop to 413.0 to lock in + 10

Oil on the run again this morning Chris ,your doing ok here :)

Fingers crossed jimmy, pity it's Friday :0)

I'm thinking it may be worth going back down with TLW / PMO maybe GENL at some point ??

CNE is one of my fairlt recent oilies small purchases. To my simple view it has formed a double bottom and has a bit of a gap to 260p, currently 207. I am no chartist and would appreciate views on whether I should add more or sell up as in a reasonable profit. I suppose it depends largely on oil price and company specific issues like the Indian connection. thanks H

sutherlh - They all seem much of a muchness all in a solid down trend but stuck in ranges. CNE is approaching 12 month high with current support @ 180p. Question is as Jimmy has pointed out dependant on oil price, do you go with current trend and trade the range or gamble on a breakout. How likely is oil price going to go up over next 12 months? Answers on a post card :0)

for myself, i chose PMO and TLW oily recovery stocks as both have proper proven reserved and production and i think either or both could easily become a t/o target ...... not so sure about CNE as it has been out of the limelight for so long

That's me stopped out of Tullow for +10

No more for me today, see what next week brings.

Thanks guys for comments on CNE. Looks to be a lot of sales today, so decided to get out and take my smallish profit. H

LATEST BROKER VIEWS

Date Broker New target Recomm.
6 Feb Barclays... 550.00 Overweight
30 Jan Credit Suisse 489.00 Neutral
28 Jan Westhouse... 600.00 Buy
22 Jan Westhouse... 770.00 Buy
20 Jan Investec 385.00 Hold
19 Jan Jefferies... 305.00 Underperform
19 Jan Deutsche Bank 400.00 Hold
16 Jan Deutsche Bank 400.00 Hold
15 Jan Westhouse... 770.00 Buy
13 Jan Jefferies... 345.00 Underperform
Broker Recommendations for Tullow Oil

Sod the brokers Chris , unless oil really goes up nothing much will happen ,these are good for trading though ,TLW,PMO,GENL ...

Agree Jimmy.

Chris i havn't yet had the guts to short them ,more buy when they have been hit hard ,it seems there is more likely hood of a major rise if oil continues up .
If they drop big next week i'm in again .

Yes, my thinking to jimmy.

Just pinched this off Dreamcatchers thread .....

Tullow Oil

Shares in Tullow Oil (LSE: TLW) are also up 9% today after rumours emerged that oil major, Shell, may be mulling over a bid for its smaller rival. Clearly, there is no proof that this is the case: it is merely a rumour, but Tullow does seem to be somewhat appealing at its current price level.

For example, it currently trades on a price to earnings growth (PEG) ratio of just 0.2, which indicates that it offers growth at a reasonable price. And, although it has shifted its strategy somewhat and is now more focused on production as opposed to exploration that it was in the past, it remains a more nimble and adaptable entity than Shell, which could prove to be an attractive attribute for its larger peer.

And, even if a bid doesn’t materialise, Tullow Oil still seems to be an attractive play. Certainly, its future depends to a large extent upon the price of oil, but its strategic shift and impressive forecasts make it a company that could see its share price rise significantly after a twelve-month period when it has slumped by almost 50%.

Jimmy, I wouldn't get too excited about that rumour. According the the journalists on the FT site, that rumour appears regularly and never becomes reality. That's not to say it never will, but.........

Yeah, a takeover rumour practically comes up on a monthly basis with this one.

seconded :-)
anyway, never buy just because you think something is a t/o target .... regard that as a bonus if it comes to pass