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Video Postcard Number 17

Tom Winnifrith
Saturday 1 December 2012

I hope the sound and light work here. It was filmed in my father’s conservatory in Warwickshire – not exactly an ideal studio but then is not the BBC. That has to be a point in my favour. The video is about eleven and a half minutes long.

On the Agenda

1.Oil stocks – the reasons for selective bearishness

- funding issues, how the recent stream of drill failures have had a disproportionate impact on the ability to raise capital in this sector

- valuation. I got my maths a bit wrong in this section. I tried to say that if Premier is worth £1.5bn and produces 75,000 bopd that is a benchmark. A smaller company producing 1,000 bopd can surely not be worth more than one 75th ( not one 15th) of Premier yet many are worth 5 times too much on that benchmark as folks underestimate exploration risk.

2. I am a bull on oil and gold prices and explain why.

3. The bear case on gold stocks is less pronounced and I explain why.

4. Value stocks.

5. I have served up two new share tips this week on the Nifty Fifty and explain what I am thinking here – you can sign up for this site HERE.

6. The re-rating of the market. The Euro and the Fiscal Cliff in the US

7. God and mammon here in Warwickshire.

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About Tom Winnifrith
Bio
Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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