Investors Chronicle, April 5th, 2007
266p - Oil & gas - Shares in Abbot stumbled last month as Norwegian shipping entrepreneur Arne Blystad sold his entire 12 per cent holding in the oil and gas drilling specialist just two days after it announced well-received results. Mr Blystad only got his stake last summer as part-payment for Abbot's purchase of his three-rig drilling company, Songa. So some City analysts interpreted the disposal as an insider calling the top of the oil-services cycle - a view that was strengthened when the Wood family cut its holding in London-listed Wood Group just days later.
In reality, oil-services c...
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