Editorial Contributor
Ruspetro – Putin comes up trumps Readers of SBM from the first issue will recall the worthwhile rise, highlighted here, as distinctly possible for Ruspetro (RPO), a Russian-based oil field developer and producer. The target price then given was 500p. However, I am persuaded that matters have changed. For, despite the long history of oil and gas profligacy practised throughout the Soviet Union and, now, Russia, Russian political concerns have demanded that taxation law be changed to encourage development and therefore maximisation of marginal fields.
30 | www.financial-spread-betting.com | June 2012
This is right up Ruspetro’s street. Putin changed the law on 3rd May. However, it was clarified on 10th May and clearly identifies Ruspetro’s opportunity. The new target price is 750p.