Richard Wachman
Sunday January 13 2008
Bet on BG
BG has had a good run, taking its share price up from 649p at the beginning of 2007 to 1,036p on Friday. Investors have piled in on rumours of Chinese stake-building and possible bids from the likes of Shell, Exxon and BP. The company has also attracted interest as it controls 25 per cent of the Tupi oilfield offshore of Rio de Janeiro, where huge quantities of the black stuff were discovered at the end of last year. What has been missed, however, is the huge spread of BG’s operations elsewhere. It has operations in India, Egypt, Kazakhstan, Tunisia, Oman and Nigeria, as well as a big liquified natural gas business. Although the stock has soared, brokers expect it to go higher still. Deutsche Bank, for example, has increased its price target to 1,200p.
http://www.guardian.co.uk/business/2008/jan/13/marketforces
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