Sunday share tips: Jersey Oil&Gas, Currys

Focused on the North Sea Buchan field and others in the area, the outfit was in the process of finding investors to help finance the former.

Earlier in April it clinched a deal with NEO Energy, which is backed by a £7bn Norwegian investment firm and which took a 50% stake in the Buchan field.

Jersey is now looking to find investors to whom to sell another 30% interest in the field.

The field was estimated to hold nearly 100m barrels of oil or some 30,000 barrels a day worth of crude oil production.

"Hopes are high, as the field is well known and several North Sea operators have already expressed their interest," Midas said.

The company also stood to benefit from government subsidies for investments in the North Sea which could allow it to skirt the existing energy levy thanks to a substantial tax break.

Furthermore, new oil supplies were expected to fall dramatically over the next decade, while consumption was not expected to do the same, Midas pointed out.

"With decades of experience and a clear plan for the future, [Jersey Oil&Gas boos, Andrew] Benitz, should deliver results. At £2.45, JOG is a buy."

Shares of Currys may be a bargain at current levels, the Sunday Times's Lucy Tobin said.

The shares halved in value at the onset of the Covid-19 pandemic as part of the market bet against its future. They had since kept on falling.

But the electrical goods retailer had reduced its debt pile by nearly two-thirds and the shares were trading a third cheaper than its historic levels.

And its upcoming trading update might deliver a pleasant surprise, she said.

Its UK business had seen its gross margins grow thanks to increased sales of its service add-ons, including credit, insurance and repairs.

Management had also slashed £300m from its costs thanks to improvements in its supply chains and IT systems.

According to Liberum analyst, Adam Tomlinson, that could stand the company in good stead once consumer confidence grew and sales began to improve.

Pessimism around its Nordic operations may also be excessive, Tomlinson said.