Bayfield Energy BEH

Bayfield Energy is a company that just recently (March 2012) listed on the UKAIM market. The shares have risen rapidly to around 70p. They have licenses to explore in Trinidad, South Africa and Russia. The Trinidad part has just made a joint announcement that their first well of 7 has found substantial oil and gas reserves, and their other Trinidad venture has also shown results. They only recently acquired a license inSouth Africa. The first Russion exploration seems to have fizzled out as these things often do. 

I would not normally venture into the Energy field but I do monitor the Trindiad newspapers having lived there. Trinidad is desperate to increase their production and the Bayfield wells have a local government run company Petrotrin as joint owners. I think Bayfield will receive a lot of support to develop these finds and the Petrotrin component of the venture will be pressing them to move quickly. 

The management team are well seasoned oil men, the CEO haveing built Burren Energy in the last decade to a 1.5bn company and sold it successfully. 

I cannot judge at this point the true value, many of these energy companes are difficult to value as the risk is high. But I think they may be worth a shot at 60-70p as a high risk but maybe big reward venture.