Updates

Baltic Oil

November 2006

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The story at Baltic Oil is panning out as we predicted in the September issue, with Baltic reporting good results from the 2D seismic work on one of its four prospects in Western Siberia. The work has defined two robust drillable prospects in the Privolny block, moving it away from what was previously only considered moose pasture. A similar study on a second block (Mokrousovsky) has begun. In a separate development, Baltic has acquired 51% of TDKN for US$360,000. Under an agreement, Baltic will also provide TDKN with a 12 month loan of US$1m. TDKN holds an exclusive agreement with the Russian Naval Authorities to refurbish and manage an oil and refined product transhipment terminal, located at Baltysk, approximately 38 km ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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