Thursday tips round up: Tullow, ICG and African Barrick

19th Jan 2012 06:53

Oil explorer Tullow had a rather grim day on the markets yesterday, dropping 6% after announcing technical (and expensive) problems at its most important asset in Ghana. The news will see production numbers come in below expectations this year.On the other hand it is involved in some major plays with Shell and Total offshore Africa and South America and may well be close to selling a huge asset in Uganda for billions. Tempus in The Times says buy, but hold on to your hat for a stomach churning ride.Tempus also gives the thumbs up to Intermediate Capital Group after its disposal yesterday of the intellectual property and patents manager CPA. Tempus says the deal will net £387m and believes ICG is worth a punt as the mezzanine financier is only trading at 7 times earnings.Meanwhile, the Telegraph's Questor column looks at gold producer African Barrick Gold which has had all sorts of problems to deal with, notably a machete wielding gang entering its North Mara facility in Tanzania looking to steal gold.It has also had power problems and will be installing a new 14 mega-watt generator to stabilise production. Questor notes many analysts like the stock despite weak production numbers yesterday but says hold until results from the Nyanzaga mine are released.BSPlease note: Digital Look provides a round-up of news, tips and information that is impacting share prices and the market. Digital Look cannot take any responsibility for information provided by third parties. This is for your general information only as not intended to be relied upon by users in making an investment decision or any other decision. Please obtain a copy of the relevant publication and carry out your own research before considering acting on any of this information.