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The demerger of Egdon Resources (EDR:AIM) and Portland Gas (PTG:AIM), creating two separate Aim-listed companies, has been completed. The latter is focused on gas storage and is awaiting planning permission to construct a facility beneath the Isle of Portland. A decision is expected in the first quarter and last week Seymour Pierce initiated coverage on the stock with a ‘buy’ rating. Egdon Resources will focus on its exploration and production interests, onshore, in the UK and France. Both stocks enjoyed strong debuts last week but have fallen back a little since amid general market weakness.

by: Tom Sieber