Thursday, February 25, 2010

Interlink Petroleum - A Multibagger in Making (CMP .Rs.32/-)

Interlink petroleum was a closed chapter till 2008. In 2008 Singapore based Jit Sun Investment took over this company from the earlier promoters. Jit Sun is the investment arm of Singapore based Ezra Holdings. Ezra is an integrated offshore support solutions provider for the oil and gas industry and is listed in Singapore Stock Exchange.
After the takeover the new management is taking sincere efforts to bring back the company into the right direction. They have infused the much needed fund to the company by way of taking 10310000 equity shares at a price of Rs.16.72 in 2008 inorder to restart the production in the two fields allotted to the company years before.After this issue they came out with an open offer @17.25 which is mandatory by laws. They have also revived the board by inducting some of the the best brains of the oil and gas industry in India.This include Mr. B. C. Bora (Ex Chairman and Managing Director (CMD), Oil and Natural Gas Corporation Ltd. (ONGC) and Chairman and Managing Director, Oil India Ltd ) and Mr Vijay Misra (having more than 24 years experience in the exploration & production industry with Oil India Ltd. and Oil and Natural Gas Corporation (ONGC).)

After strengthening the board by experienced persons ,IPL conducted new seismic survey in their already allotted fields ,since the old one is outdated. This seismic survey done by Alphageo India Ltd and completed in November 2009 at a cost of Rs.6.66 crore. Eventhough the result of this latest survey is not available to public domain,Company’s latest plan to issue 6520000 equity shares at a price of Rs. 33/- To 4 foreign citizens(Probably the nominees/associates of its foreign promoters) indicates that the result of this survey is fruitful and proven reserves are there.
In nutshell,Even if there is no working results as of now ,new promoters experience in this field and their sincere efforts to revive the company through well planned strategies makes it a possible multibagger, if you have sufficient patience .

3 comments :

  1. Dear Valuepick,
    There is a little known company Vishnu Chemicals, 75% owned by promoters. Investment phase over and expect to make a to of Rs. 400, equity 14 cr. Market circles say an EPS of 50 in 2011. Do you have any idea about this company. Little known companies are future multibaggers.

    ReplyDelete
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    ReplyDelete
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