A couple of impressive come-backs..

Manas Petroleum (MNAP)

We adviced a trade in Manas Petroleum (MNAP) that was highly profitable, and after consolidation, adviced a new speculative position at 28 cents. Since we’re at 40+ cents already, this looks like being a good move, so far.

We’ve warned people that the run-up is in relation to drilling that is to be commenced shortly in Kyrgyzstan. If you don’t want to wait for the outcome (4-6 weeks away), you can take profits if you like. But how are the chances of actually finding oil (which is what they’re drilling for)?

• There are good seismic indications
• Similar formations are producing oil nearby
• According to Independent assessor Scott Pickford (2005) argued there is 1.2B barrels in place
• Manas managed to conclude a good farm-out deal with Santos (which are doing the drilling)

While success isn’t guaranteed, this isn’t just wildcatting…

InterOil (IOC)

It looked like this morning a negative comment from a Motley Fool investor triggered a bit of a sell-off (see here for a thorough rebuke), but that didn’t last long. It’s extremely encouraging that every time there is something of a sell-off, buyers line up to snap the cheaper stocks up.