We all need a couple of oilies in our portfolio - this one's not without it's risks but still plenty potential upside.

http://www.kbcpeelhunt.com/pdfs/mmeetings/NEOilGas9Aug05.pdf

Oilexco (BUY) looks a stand-out cheap stock. This is partly a reflection of its high asset concentration, with effectively all the value in the UK North Sea Brenda field. While it is not without risk in terms of reservoir performance, the field has been thoroughly appraised and with the key contracts having been signed, delivery of first oil mid-2006 looks fairly secure. Forthcoming exploration and appraisal drilling on 3-4 other North Sea prospects and fields provide a few shots at significant value upside as well.

looks like the first producing oily to go to the knackers yard or should we say RBS's bad debts portfolio?

Lucky that I did not get some in my Isa...what a disaster !.

Always a shady outfit IMO. Some of their early releases were complete rocking horse poo!

Interesting to hear that point of view from you Big Al, (as always).

Strange how some have the answers, hindsight fashion?
cyril

I'm in for a few today worth 20p imo.