Gamble of the day: A turnaround oil play

Everything was going so well for this oil company until recently. Phil Oakley explains why a turnaround could offer big rewards for brave investors.

Until the end of 2013, everythingseemed to be going well for this oil-services company. Its bread-and-butter business of building and maintaining oil platforms was doing nicely and winning orders.

The Integrated Energy Services unit, where itpartnered up with oil companies to operate oil platforms in return for a share of the spoils, was going to keep profits racing ahead. Its shares were well liked by investors.

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Phil spent 13 years as an investment analyst for both stockbroking and fund management companies.

 

After graduating with a MSc in International Banking, Economics & Finance from Liverpool Business School in 1996, Phil went to work for BWD Rensburg, a Liverpool based investment manager. In 2001, he joined ABN AMRO as a transport analyst. After a brief spell as a food retail analyst, he spent five years with ABN's very successful UK Smaller Companies team where he covered engineering, transport and support services stocks.

 

In 2007, Phil joined Halbis Capital Management as a European equities analyst. He began writing for MoneyWeek in 2010.