From Bernama – Oil And Gas Stocks Should See Upward Trend

Yeah, where is this upward trend? My profit margin has only increased by 1000+% year on year, below the industry standard. I would expect people to be throwing money at us, as if they were venture capitalists, and we have the next Facebook in the works.

BTW, doesn’t ECM Libra have a vested political interest to make things appear rosy?

From Bernama, dateline 2010-07-14:

Oil and gas stocks should see an upward trend going forward with more jobs expected for oil and gas providers, according to ECM Libra Investment Research.

“The sector is not without its shortcomings but on the flipside, valuations continue to be reasonable and we believe the key driver will be the impending news flow,” it said.

“One would have thought that crude oil prices have been above the US$70 level for long enough to ignite a multitude of projects the world over but the recovery in capital expenditure spend hence job flow have been slow coming,” ECM Libra said.

“Nevertheless, we believe that upstream spending will be back in tow, latest 2011, and continue to trickle in for the rest of this year,” it said in a research note Wednesday.

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