Collage Rexonic

SOME OIL & GAS stocks have been among the biggest gainers in the recent stock market rebound.

  30 Sept 2015 closing 16 Oct 2015 closing % gain
AusGroup 11.3 c 15.6 c 38.1%
Baker Tech 18.9 c 20.5 c 8.5%
China Aviation Oil 62.5 c 71 c 13.6%
Ezra 11. 6 c 12.8 c 10.3%

64.5 c 75.5 c 17.1%
GSS Energy

7.8 c 10.6 c 35.9%
4.2 c 6.4 c 52.4%
Kris Energy

35 c 35 c --
Nam Cheong

15.9 c 17.7 c 11.3%
Pacc Offshore
32 c 38 c 18.8%

8.3 c 15.1 c 81.9%

23.5 c 27.5 c 17.0%

The oil situation is very complex and all sorts of data come out frequently, sending investor sentiment up and down. 

To quote the Wall Street Journal of Oct 16 on a positive sign for higher oil prices: "...the number of working U.S. oil rigs had fallen by 10 to 595 in the latest week, the seventh consecutive week of declines.

"Some view this as a proxy for estimating what might happen to production, and a sharp fall in the rig count during the year’s collapse in oil prices has led many to speculate that production declines are on the way."

At least for now, there is a big relief rally for some oil-related stocks on the Singapore Exchange.

In our compilation, the biggest gainers since the start of this month (Oct) are REX International (81.9%) and IEV (52.4%).

Another stock, Baker Tech, rose 8.5%. Notably, the manufacturer and provider of specialised equipment and services for the oil & gas industry has a strong balance sheet as at end-June 2015, comprising S$172.9 million cash (no borrowings) and $8.3 million corporate bonds.

These two assets alone translate into 17.9 cents a share. In comparison, its stock traded recently at 20.5 cents, implying a sharp undervaluation of its operating business.


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