We think there's every chance that the price of oil is going to hit $150 a barrel in the second half of the year. Our existing portfolio is already getting heavier towards the fossil fuels end of the market, but it is one of the few games in town from which to make money on the long side at the moment.
This week we have another oil and gas play to add to the existing long energy plays we have on our pick list. This is an AIM-listed exploration and production company that is focused on high impact exploration in Morocco, Atlantic Ireland and indeed also has some onshore production in the UK. Note that there is no exposure to Russian oil and gas. The company already has a considerable slice of its shares held by retail investors.
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