Baron Oil (LON: BOIL) is a UK-incorporated, independent oil and gas exploration company. They were founded in 2014 to exploit low to medium-risk exploration projects with the potential to be developed quickly and at a low cost.
They hold a 75% indirect interest in the Chuditch PSC gas discovery, which Shell drilled in 1998. Baron Oil also has interests in the Dunrobin Offshore Block in the North Sea and the onshore El Barco block in Peru.
Read on for our guide to buying shares in Baron Oil online.
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Step 1: Sign up with a broker
Baron Oil is listed on the London Stock Exchange. You'll need a broker with access to this exchange if you want to buy their shares. Many brokers have access to London’s market and others.
When comparing options, check what the broker charges in terms of commission and foreign exchange when buying on international markets. Other things to take into consideration include market access, tradable instruments, whether they have fractional share investment, minimum deposit required, etc.
Step 2: Deposit funds in your account
You can fund your account with a bank transfer or a debit card. Some brokers also accept credit cards.
Note that it can take some time before your funds clear into your trading account. Debit cards are typically the fastest way to deposit funds.
Step 3: Decide what to spend on shares
Which shares you buy and how much of your money you invest are very important decisions, particularly since share prices fluctuate. The general rule of thumb is not to invest more than you can afford to lose.
Step 4: How to invest in an ETF
ETFs (Exchange Traded Funds) are considered to be a less risky way to invest compared to investing in a single company’s shares. This is because an ETF is a basket of shares.
An ETF is less likely to deliver rapid capital growth as can happen with a growth stock, but can deliver slow and steady returns. Nevertheless, an ETF is comprised of shares — a “risk asset” — and its price can also fluctuate depending on market conditions.
Step 5: Spec up your order
Market orders can be used to purchase stocks at the current market price. They are the easiest type of order to configure.
Most brokers also support more complex orders that can be triggered by an event. For example, you could configure an order to be automatically executed at a pre-defined price. Many investors use these orders to protect their profits by selling out of a position when the market turns and taking profit.
Alternatively, some brokers support recurring buys so you can build your position in a company over time.
Step 6: Place your order
Once you have configured your order, submit it to buy your shares.
Global events that impact the price or availability of gas and oil have the potential to move Baron Oil’s share price. You should also read their press releases, company announcements, and results. News of new deposits can move their price.
To put Baron Oil’s performance in context with the broader market, monitor share prices and developments at competitors such as Longboat Energy (LON: LBE), President Energy (LON: PPC), Harbour Energy (LON: HBR), and Enquest (LON: ENQ).
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