The Chancellor was widely expected to take action to assist the struggling North Sea oil industry in his Budget, and sure enough he did. George Osborne believes his measures will stimulate an extra £4bn worth of investment and lead to 120m extra barrels of oil being pumped. So why didn’t share prices soar on the news yesterday?
Did The Budget Do Enough For Premier Oil plc, Enquest plc And Ithaca Energy Inc.?
VIDEO: One Fool puts Premier Oil plc (LON:PMO), Ithaca Energy Inc. (LON:IAE) and Enquest plc (LON:ENQ) under the spotlight.
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Published Owain is a magpie of the investing world -- and not because he gets into a flap. Almost any style of investing might suit him, depending on the bigger picture, and he's held all sorts of companies. Paraphrasing Keynes, he says: “When the market changes, I change my mind -- what do you do?”
That said, Owain is usually a buyer of equities, where he prefers lightly geared, modestly rated companies, and is increasingly on the lookout for Buffett-style intangible quality. He aspires to buy-and-hold: his best investment ideas are worth much more than he sold them for. Then again, his worst investment went bust due to management fraud!
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