The same risks and potential apply to other oil companies who are at similar stages in their
The same risks and potential apply to other oil companies who are at similar stages in their growth, but I believe First Calgary has been harshly treated by the market.”Investor anxiety with Aim-listed shares has intensified the stock’s drop, but McLean still thinks there is more upside than downside ahead. “The company is currently in discussions with potential partners and if it can find the financing it needs I believe the share price could exceed £10,” he says.McLean has his work cut out if he plans on climbing his way back to the top and winning the £2,000 cash prize by the end of the competition.Meanwhile, the Bourne-mouth-based Bucket & Spade investment club is holding on to the lead and continues to fight off any further losses. First Calgary Petroleums, the Alternative Investment Market-listed oil company, is McLean’s poorest performer. The share, which accounts for nearly a quarter of the expert’s competition portfolio, has fallen 50 per cent since he invested and is now trading at 435p.Despite the tumble, McLean remains bullish.
“It needs money to complete this exploration and to develop its existing finds, which are beyond its own resources right now. “First Calgary is currently in a development phase and the real value lies in its untapped acreage,” he says. His 25 per cent drop has already wiped £1,270 off his initial £5,000 notional portfolio. The professional is now trailing the amateurs by more than 20 per cent.”My portfolio has clearly taken a turn for the worse,” admits McLean humbly; he has been hit hard by the recent downturn in his natural resources stocks.
However, none of the teams has managed to keep pace with the FTSE All Share index, which is down 1.9 per cent over the same time period.The teams each started with a notional £5,000, but the sideways stock market has made prudent stock picking even more difficult and profits remain as elusive as ever.McLean has suffered the most damage. The bank replied that it couldn’t print the statements for free as the mistake wasn’t theirs, and couldn’t charge me as I no longer held an account. I need the statements for my tax return, and am prepared to pay for a reprint SB, LondonA. On 25 February almost £12,000 in cash was fraudulently withdrawn from my account at an Abbey branch over 200 miles from my home. I reported this on discovery the next day, and met with Abbey staff at my branch the following Tuesday.
Since then, the only contact the bank has made has been to write to advise that I would incur charges for having insufficient funds in my account MS, by e-mail A It’s not surprising that you are angry. Abbey says that the problem arises from the loss of a fax sent from its branch to its fraud department. The branch has now re-faxed your report, a new account has been opened, and you have been fully reimbursed. Abbey is now crediting you with £200 as a gesture of goodwill for its mishandling of your fraud claim, which it says “isn’t typical of the service we provide”. However, we have received a series of complaints about Abbey’s mishandling of its Postal ISA, and The Independent on Sunday received a very similar letter of complaint about th
Q. Is this coincidence or a sign of appalling customer service? Abbey says that it is coincidence Readers are invited to submit their own experiences.
Q. I last used my Capital One credit card to make a cash withdrawal last June, which only appeared on my card last December and on my statement for January.
Capital One says that responsibility for this lies with the Bank of Ireland, from whose ATM I made a withdrawal in Dublin But Bank of Ireland says that it’s Capital One’s fault. Surely six months is a very long time to process a withdrawal? BH, by e-mailA. Capital One still maintains that it is not at fault, but it has now refunded the interest charge of £15.85 and a late-payment fee of £20, which had been levied because the unexpected processing of this withdrawal took you over your credit limit.Q. The analysis assumes that parents top up their children’s funds by £20 a month – the scheme allows friends and family to make extra annual contributions of up to £1,200 a year – once they have opened an account.John Reeve, Family’s chief executive officer, said: “We would urge a strong call to action to shake up parents from their apathy as every day that passes reduces the growth potential of those first vouchers.”Ray Milne of Halifax Bank’s financial services arm estimated that families were collectively missing out on £1.8m a month by failing to invest the vouchers “Parents need to take immediate action,” Milne said..
