New Ocean Energy (342 HK)

Dear Editor,
If you have the chance to interview the management, can you ask them for their capex plan in 2013 as well as their plans for the 17 autogas stations?
 
 

Did I see right? Bloomberg data says PE is 6X. Only 6x?
Dividend yield is 1.3%. Oh, low low. So it's a growth story, rather than a div yield play

New Ocean Energy surged to a high of HKD 1.90 today, ending 1.88 with 10 million shares traded.
I noted that a HK broking house has initiated coverage on this Company.
Made a 10+% return in a month's time. That is around HKD 400,000. Not too bad.
 
 
Vested stake in this Company

New Ocean Energy surged to a high of HKD 2.22 this afternoon on heavy volume.
I feel the Company has probably gotten the interests of some big funds now who are doing program buying.
Based on my average price of HKD 1.63 on the 2m+ shares that I bought about 6 weeks ago, my profit is around HKD 1 million or slightly more than 30%.
My IRR for this investment is 35% and I am nearing it. Hence, I would be gradually reducing my stake in the Company.
Congratulations to those who bought the shares when the article was published and good luck to those who held on till today.
Have a good weekend ahead.
 
 

Dear Forummers,
I have sold off all my shares in NewOcean Energy today between 2.20 to 2.24 as the share price surged to a 52-week high.
While I still think there is more upside potentials, the share price has moved up past my comfort zone too fast.
In total, I made more than HKD 1.3 million profit, or a IRR of more than 48% in 6 weeks' time.
You can read from my earlier postings on the entry price as well as the reasons for my purchases.
Good luck to the rest and thanks once again to Mr Leong and Mr Vanburen for your excellent works in identifying good stocks.
God Bless!
 

Dear Forummers,
Let me know if you like me to share with you, what are my thoughts and exit strategies in identifiying stock ideas.
Have a good weekend!