x Abu Dhabi, UAEMonday 24 July 2017

Two junior oil picks

An adviser with The Share Centre offers two picks for oil and gas exploration companies

Nick Raynor, investment adviser at The Share Centre, a London-based stockbroker, recommends two oil and gas exploration companies

Dominion Petroleum

"2011 is set to be a big year for Dominion Petroleum. The company's main Alpha prospect in Tanzania awaits testing to determine when drilling can begin. An independent audit said there could be up to 1.1 billion barrels of oil and seven trillion cubic feet of gas at the site. If correct, the company and investors will reap the rewards. But in December, one of its wells in Tanzania was plugged and abandoned, which hit the share price. "

Tullow Oil

"Tullow Oil's recent update about drilling operations was released with mixed results. Its operations in Uganda go from strength to strength, with 36 wells drilled and oil found in every one. So far, it has found an estimated 1 billion barrels of oil and believes a further 1.5 billion can be found in the area."