We advised buying Centrica (CNA) last December (338p, 12 December 2012) as the shares were looking cheap, with that chunky dividend yield and the prospect of a £500m share buyback in the offing. We also picked it as one of the 10 shares we recommended for your Isa (1 March 2013), and those who followed our advice haven't been disappointed, with strong gains since.
Centrica has now added greater security to its gas assets by putting the finishing touches to a £650m (C$1bn) acquisition of some Canadian assets via a joint venture with Qatar Petroleum International (QPI). The partnership will be split 60 per cent Centrica and 40 per cent QPI, and will be operated by Centrica. There is also the option to carry out additional horizontal drilling and fracking on undeveloped land, which could add more to reserves.
