One to watch: Oilex

OILEX is an Australian-based oil and gas exploration and production company. The company has interests in India, where it operates the Cambay Field production sharing contract, on behalf of its joint venture with the Gujarat State Petroleum Corporation.

Oilex is very much an exploration company. February's results showed a loss of $8.5m, reflecting exploration expenditure costs mainly in India.

However, for those of a speculative bent, the shares could be worth a look. Oilex has a 45 per cent interest in a large acreage position onshore India, which is thought to contain very substantial reserves of gas. In addition, the company is thought to have potentially very valuable reserves of shale oil.

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Shale oil was, for years, regarded as too expensive to exploit but recent advances have made the possibility of unlocking the commercial value of these deposits much more realistic. In addition, the company is developing its licence in the north west shelf in Australia, with the first exploration well anticipated to be spudded-in shortly.

Oilex is obviously a speculation but one that could prove rewarding, provided the risks are understood.

Oilex

24.62p +0.12p

Scotsman says BUY

• The value of your investment could fall and you may get back less than you invested. Take professional advice if you have any doubt about the suitability of this company for your portfolio.

BROKER SNAPS

Robert Wiseman Dairies

322.75p -1.25p

Broker says HOLD

NUMIS has reiterated its "hold" recommendation on East Kilbride-based Robert Wiseman Dairies following Tuesday's full-year results and has "tweaked" its target price from 310p to 322p. The broker added: "Unfortunately, there remain few immediate attractions away from the yield."

Experian

796p -1p

Broker says BUY

CREDIT reference agency Experian is rated as a "buy" by Prime Markets, which highlighted its rapid grow in recent years. Head of sales Ben Timms said: "Although close to year highs, we believe the sheer growth momentum will shortly make the current market valuation look modest by comparison."

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