Risk Warning

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Prime Markets in the Press - De La Rue (DLAR)

11/01/2011

Ithaca is an oil and gas explorer and producer operating on the UK continental shelf. Its key licenses are focused on the Beatrice and Jacky area at the northern end of the region, the Athena and the Greater Stella area in the middle and the Carna discovery area towards the south.
The company is already in production and some analysts are forecasting it could be turning out nearly 23,000 barrels of oil equivalent per day within the next couple of years against a current figure of around 5,000. The second well at the important ADVERTISEMENTJacky field should, it is hoped, confirm the potential for a substantial increase in reserves. Jacky is a satellite field at Ithaca's Beatrice licence and has been in production since April 2009.

As oil prices continue to respond positively to global economic recovery, Ithaca's stock market rating should benefit. The news flow looks as promising as the company's production prospects and, for those investors who can accept there is little likelihood of an income return from this proposition for the foreseeable future, the shares are certainly worth a look.

Ithaca
173.5p +2p
Scotsman says BUY



BROKER SNAPS:

Canaccord has kept its "hold" rating on Glasgow-based temporary power supplier Aggreko. The broker said: "Aggreko's share price has underperformed the market by 6 per cent since December. A re-rating appears unlikely in the near term. We remain bullish on the company's long-term position."

Aggreko
1,460p +6p
Broker says HOLD


Following rumours that India's finance ministry has suspended a contract with banknote printer De La Rue, Prime Markets has issued a "sell" recommendation. Head of dealing Richard Curr said: "Our view is that traders should sell De La Rue down to 695p. The uncertainty create a short selling opportunity."

De La Rue
828p -7p
Broker says SELL

The Scotsman

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