Keith, a regular reader of The Footsieblog has suggested we invest £1000 of his money in various stocks in the FTSE. The aim is to double or even treble Keith’s money by midday on Friday 22nd December 2006.


The money has now been received from Keith and a purchase has been made.


The first stock that we have chosen to buy for Keith is Tullow Oil (TLW)


The stock was bought at 368.00p and the current price target for this stock is 450.00p.


The stock is currently up 0.95% at 373.25p.


The Footsieblog chose Tullow Oil for a number of reasons. The US driving season is getting under-way. The hurricane season is about to start with further category 5 hurricanes forecast for this year due to global warming. The increased tensions with Iran will see oil spike to $100 a barrel this year, pushing oil stocks like Tullow Oil to fresh highs.


Tullow Oil is an oil and gas explorer with exploration licences throughout Europe, South Asia and Africa. In 2004 it acquired Energy Africa in a massive $500m takeover deal.
Tullow's share price has risen over 40% in the last year, more or less in line with the sector. Performance continues to be underpinned by strong oil & gas prices. There is near certainty that there is much more to come in terms of growth potential in all areas. Tullow Oil is also a strong takeover target.

Tullow Oils geographic diversity and solid growth in new business is continuing with a particularly strong African side.


http://www.tullowoil.com/


There shall be a review of Keith’s portfolio mid-week, every week, until Friday 22nd December 2006.