Max Petroleum, Valiant Petroleum, Gulf Keystone, African Minerals, Cluff Gold news briefs
8 March 2010 | Max Petroleum announced that it has commenced drilling the KZN-1 exploration well on the North Kyzylzhar II East Block prospect in Block E, the second of twelve post-salt exploration prospects scheduled to be drilled by the Company on Blocks A&E in Kazakhstan. Valiant Petroleum announced that Don Southwest and West Don production via the permanent pipeline export route to the nearby Thistle platform was commissioned on 5 March 2010 and the delivery of oil has commenced. Gulf Keystone announced that it has today drawn down £900,000 of its £30 million Standby Equity Distribution Agreement ("SEDA") with YA Global Master SPV Ltd. African Minerals announced the release of a full Mineral Experts Report relating to the updated magnetite iron ore Mineral Resource. Cluff Gold announced the 31 December 2009 resource and reserve position at its operating mines in Burkina Faso and Cote d'Ivoire, together with exploration plans for these projects.
Xcite Energy, Max Petroleum, San Leon Energy, Hochschild news briefs
5 March 2010 | Xcite Energy has signed a legally binding letter of agreement with Challenger Minerals (North Sea) Limited ("CMNS") for CMNS to farm in to the Bentley field, commencing with the forthcoming 9/3b-R well intended to be drilled this summer. Max Petroleum has paid the 8 March 2010 interest payment due on its US$75,000,000 6.75% Convertible Bonds in cash, electing not to convert the interest payment into additional principal on the Bonds (the "PIK Option"). San Leon Energy announced an amendment to the conditions of the acquisition of Island by San Leon, in addition to the conditions set out in the 2.5 announcement of 25 February 2010 regarding the acquisition. Hochschild announced that it has sold its 36.9% holding in Zincore Metals Inc for a total cash consideration of C$10.3 million. As a result of the transaction, Hochschild has no further interest in Zincore.
Petroceltic, Great Eastern Energy, Dominion Petroleum, Hydrodec Group, Hardy Oil and Gas, Kalahari Minerals news briefs
4 March 2010 | Petroceltic announced an operational update on its activities in Algeria, Tunisia and Italy. In Algeria, data collected in the 2009 drilling campaign has been incorporated into a P50 resource estimate of 5,796Bcf of gas and 64MMbbls of oil. Great Eastern Energy announced it has received an updated Competent Person's Report (CPR) in which its 210km2 block in West Bengal, India has been attributed a significant increase in reserves and prospective resources. Dominion Petroleum announced that it has conditionally raised £32.7M through a placing of new common shares with institutional investors, with 654,880,000 new common shares at a price of 5p per share to be issued. Hydrodec Group announced an agreement with its Japanese partner, Kobelco Eco-Solutions of the Kobe Steel Group, for a 50/50 joint venture to exploit the Hydrodec technology to re-refine polychlorinated biphenyl in Japan and across the wider East Asian market. Hardy Oil and Gas announced that Sastry Karra will be relinquishing his current position as Chief Executive and maintain an ongoing involvement with the Company as a Non Executive Director. Kalahari Minerals announced that in accordance with the announcement made on 23 February 2010, its wholly owned Australian subsidiary, Kalahari Minerals Pty Ltd, has now declared its conditional off-market takeover bid for the entire issued ordinary share capital of Coronet fully closed.
Salamander Energy, Highland Gold, Chromex Mining, Beowulf Mining, Griffin Mining news briefs
3 March 2010 | Salamander Energy has agreed to acquire the full authorised share capital of Bontang Energy Limited, the holder of a 20% interest in its operated Bontang PSC, from PT. Eksindo Petroleum Tabuhan ("Eksindo"). Highland Gold announced the first shipment of concentrate from the Novoshirokinskoye mine commissioned in October 2009.1,200 tonnes of concentrate were produced and shipped in February 2010 for smelting and refining at the Ust-Kamenogorsk plant in Kazakhstan operated by Kazzinc, a subsidiary of Glencore. Chromex Mining announced encouraging results from Platinum Group Elements ('PGEs') testwork conducted on its 271 hectare Stellite 255JQ ('Stellite') farm on the Western Limb of the Bushveld Complex in South Africa, where the Company is currently mining chrome. Beowulf Mining announced the conceptual study by Raw Materials Group ("RMG") shows the Kallak deposit containing a significant resource of iron ore close to the surface and therefore amenable to open-pit mining. Griffin Mining announced the latest JORC reported Mineral Resource for Zone III at its Caijiaying Mine in the People’s Republic of China.
Caza Oil & Gas, Chariot Oil & Gas, Valiant Petroleum, Angel Mining, Stratex International, Beacon Hill Resources, Connemara Mining news briefs
2 March 2010 | Caza Oil & Gas announced that it has contracted Patterson-UTI Energy Inc. to drill the Matthys-McMillan Gas Unit #2 development well located in the Wharton West Wilcox Field. Chariot Oil & Gas announced an increase in the Company's unrisked mean prospective oil resources of 3.3Bbbl to a total of over 8.5Bbbl. Valiant Petroleum announced the following updates with regard to recent operations on Don Southwest and West Don (the Don Fields). The previously announced side-track of the Area 22 production well on Don Southwest (Valiant, 40.0%) has now been successfully completed and is ready to produce. Angel Mining announced that production has commenced at its Nalunaq Gold Mine in Greenland. The output will be in the form of doré bars comprising approximately 90% gold and 10% silver. Since completing the acquisition of the mine in July 2009, Angel has designed an underground process plant, sourced the components, built an in-mine chamber, constructed foundations, installed and commissioned the plant to enable this initial production to take place. Stratex International announced a preliminary in-house resource at its Öksüt project in the Central Anatolia region of Turkey. Beacon Hill Resources announced that it has entered into an agreement with Fortrend Securities Pty Ltd for the provision of up to £5 million of funding. Connemara Mining reported additional results from the ongoing drilling programme in Limerick.
San Leon Energy, Victoria Oil & Gas, Tower Resources, Tullow Oil, Afren, Vane Minerals, Sunrise Diamonds, Trans Siberian Gold news briefs
1 March 2010 | San Leon Energy (Research restricted) and Talisman Energy Inc. announced that a farmout has been signed between the San Leon Polish subsidiary Oculis Investments Sp. z o.o. and Talisman Energy Inc. for the exploration of shale gas in the Baltic Basin onshore Poland. Victoria Oil & Gas announced that it has completed, conditional on admission, an equity placing of 430,769,231 new ordinary shares at a price of 3.25 pence per share, raising £14m before expenses through its brokers Fox-Davies Capital Limited. Tower Resources announced it has completed operations on the Avivi-1 exploration well in Uganda Licence EA5. Tullow Oil announced the results of drilling on the Onal production licence in Gabon, in which it has a 7.5% interest, and is operated by Maurel & Prom. Afren announced drilling results from the La Noumbi exploration License, on shore Congo Brazaville, on which Afren has a 14% participating interest.
Pan Andean Resources, Chariot Oil & Gas, Minera IRL, Archipelago Resources, Avocet Mining news briefs
26 February 2010 | Pan Andean Resources announced they have agreed terms with Petrominerales regarding the acquisition of the entire issued and to be issued share capital of Pan Andean. Under the proposals, Pan Andean shareholders will receive £0.15 in cash and one share in Hydrocarbon exploration, a newly created unlisted Plc for every one Pan Andean share held. Chariot Oil & Gas gave an update ahead of its full year results for the year ended 28 February 2010. Over the past six months work has continued across all the offshore Namibian blocks of interest, the focus being on the processing and interpretation of the comprehensive seismic data that was acquired last year. Minera IRL announced that it has signed an option to purchase the Quilavira Gold Exploration Project from Ingerieria y Tecnologia Minero-Metalurgica SA (ITMM) for the sum of $50,000. The 5,100 hectare tenement package is located in the Tacna district of southern Peru. ITMM acquired the property from Newcrest in a competitive tendering process. Archipelago Resources announced that following receipt of authority from shareholders on 25 January 2010, it has arranged a placing of 102,000,000 new ordinary shares to institutional investors at a price of 30p per Placing Shares to raise £30.6 million. Avocet Mining announced the first shipment of gold from its Inata mine in Burkina Faso. Inata poured first gold on 20 December 2009 and this week exported approximately 11,000oz of gold to Rand Refinery's facility in South Africa. Proceeds from the sale of gold of approximately US$12 million are expected to be received next week.
San Leon Energy, Centrica, Providence Resources, Dana Petroleum, Chariot Oil & Gas, Thor Mining, Shanta Gold Ltd, African Aura Mining, Coal of Africa news briefs
25 February 2010 | San Leon Energy have reached agreement on the terms of a recommended share for share acquisition of Island Oil & Gas. Centrica through its subsidiary Centrica Resources, has signed an agreement with Suncor Energy, under which Centrica will acquire Suncor’s Trinidad and Tobago portfolio of gas assets for US$380m in cash. Providence Resources has signed a strategic collaboration agreement with PGS Ventures A/S, a division of Petroleum Geo-Services (PGS), an industry leader in offshore seismic data acquisition and processing. Dana Petroleum spudded the Bamboo well (Dana 50%) in the West El Burullus concession, offshore Nile Delta, Egypt on 19 February. This drilling follows on from the recent success at Papyrus, the second gas field discovered in this concession by Dana and its partner Gaz de France with their first two wells. Chariot Oil & Gas has appointed Ambrian Partners Limited as its Nominated Adviser with immediate effect. Thor Mining announced that terms have been agreed for the proposed acquisition of 3 tenements covering 340km2 in the Western Australian Goldfields approximately 100km southeast of Norseman. Shanta Gold Ltd announced that it has further extended the mineralised strike of previously known mineralised structures and new targets on PL2787/2004 and the recently submitted adjacent mining licence application at the Chunya project in southern Tanzania. African Aura Mining announced the commissioning of an airborne geophysical survey across the Company's Nkout, Ngoa and Akon iron ore projects in southern Cameroon. Coal of Africa announced it has issued 5,625,750 ordinary shares to Tranter Holdings (Proprietary) Limited at a deemed issue price of £0.40 in consideration for the acquisition of a 20% interest in Limpopo Coal Company (Proprietary) Limited, taking the Company's interest to 100%.
Aurelian Oil & Gas, Tower Resources, Churchill Mining news briefs
24 February 2010 | Aurelian Oil & Gas announced re-iterated the milestones achieved since October 2009, including a significant upgrade in GIIP potential at the Voitinel Project in Romania from 50-100Bcf to 400Bcf, as well as the signing of key contrats for the Siekierki tight gas project in Poland. Tower Resources announced that Avivi-1 has reached its total depth at 764m without experiencing oil shows - basement was penetrated at 742m. Electric logging operations are underway and a full statement will be released once these have been completed. Churchill Mining announced that the feasibility review process at its East Kutai Coal Project (“EKCP”) will be completed in the second quarter of 2010. The company also announced that the Company has received several non-binding approaches relating to possible acquisitions of specific projects within Churchill.
Nighthawk Energy, Leed Petroleum, Desire Petroleum, Dragon Oil, African Diamonds, Mwana Africa news briefs
23 February 2010 | Nighthawk Energy announced an update in respect of the Jolly Ranch project in which it holds a 50% working interest with Running Foxes Petroleum Inc., the operator, holding the remaining 50% interest. Leed Petroleum announced that the Ship Shoal 201 A-6 well has reached its total depth. The Company's interpretation of well logs confirms the presence of hydrocarbon pay in line with pre-drill expectations. Desire Petroleum announced that, following the arrival of the Ocean Guardian in Falklands waters on 19 February 2010, the Liz 14 /19-A exploration well was spudded at 14.15 hours (GMT) on 22 February 2010. Dragon Oil announced its preliminary results for the year ended 31 December 2009. Landmark production of 50,000 bopd was reached at the turn of 2009-10 with average daily rate of production raising 9% to 44,765bopd compared to 40,992bopd in 2008.
Ascent Resources, Geopark Holdings, Egdon Resources, Salamander Energy, Pangea DiamondFields, Mariana Resources, Stellar Diamonds, African Eagle Resources news briefs
22 February 2010 | Ascent Resources has agreed to sell a 45% interest in Italian drilling contractor Perazzoli Drilling for a cash consideration of EUR1.85 million. Geopark Holdings provided an update on its drilling activities on the Fell Block in Chile including the successful testing of two new oil wells - Alakaluf 6 and Alakaluf 8. GeoPark operates and has a 100% working interest in the Fell Block. Egdon Resources announced the execution of key commercial agreements in relation to the Kirkleatham gas field development in North Yorkshire and Teeside licence PEDL068. Salamander Energy announced the spudding of the Bang Nouan-1 exploration well in the Savannakhet PSC, Lao PDR. Mariana Resources announced an update on its Los Amigos Joint Venture with Hochschild Mining. African Eagle Resources announced the first drill assay results from Ngasamo confirm the potential to increase the Dutwa resource.
Gulfsands Petroleum, Ormonde Mining, Baobab Resources news briefs
19 February 2010 | Gulfsands Petroleum provided an update on the Company's operations at Block 26, Syria where Gulfsands holds a 50% interest and acts as operator. Ormonde Mining reported on progress at its La Zarza Project in Huelva Province, Spain, where it is in joint venture with Antofagasta Minerals. Baobab Resources announced results from the last of three diamond drill holes completed prior to the close of the 2009 field season at the South Zone prospect of the Tete magnetite-ilmenite project.
Gulf Keystone, Nostra Terra, Roxi Petroleum, Aminex, Cove Energy, Eurasian Natural Resources, Namibian Resources news briefs
18 February 2010 | Gulf Keystone announced that it has negotiated an agreement with BG North Sea Holdings Limited ("BG") that settles, on confidential terms, the claims and counterclaims between the parties in the previously announced arbitration. Nostra Terra announced that its wholly- owned subsidiary, Nostra Terra Overseas Ltd ("NTOL"), has entered into a contract with Crimea Nadra Invest (CNI) relating to its assets in Ukraine. Roxi Petroleum announced that exploration well NK22, drilled by its subsidiary "Galaz and Company" LLP, has encountered 12.8m of net pay, determined from wireline logs, in good quality lower Cretaceous, and Upper Jurassic aged reservoir formations. Aminex announced that the Olympia Minerals-1 well ("OM-1") at Shoats Creek was spudded on 17 February 2010 using the Crown Drilling Rig No. 2. OM-1 is the first well in a drilling programme based on interpretation of new 3D seismic data over the property and will be drilled to an estimated total depth 9,500ft to test multiple sands in the Cockfield formation.
Coastal Energy, African Minerals, GMA Resources news briefs
17 February 2010 | Coastal Energy announced an update of its operations in Thailand. At Songkhla A the workover of the Songkhla A-04 is nearing completion. African Minerals announced that the JORC complaint iron ore resource at its Tonkolili project in Sierra Leone has grown to 10.5Bt. 9.7Bt of the resources has a grade of 30.1% iron, with the remainder at 16.8%. GMA Resources announced that has raised £479,662.02 for the Company (before expenses) by way of a subscription for 10,659,156 ordinary shares in the capital of the Company at a price of 4.5p.
Geopark Holdings, Green Dragon Gas, Providence Resources, Salamander Energy, Shell, Greystar Resources Ltd, Pangea DiamondFields news briefs
16 February 2010 | Geopark Holdings announced an operational and trading update in which the company outlined its 2010 investment program. Green Dragon Gas one of the largest independent companies involved in the production of CBM gas and the distribution and sale of wholesale gas in China, published its 2009 year end gas reserves and value estimate, conducted by NSAI. Providence Resources announced that it has been awarded Licensing Option 10/1 over the Baltimore heavy oil discovery located in block 48/19(p) in the North Celtic Sea Basin, offshore Ireland.
Max Petroleum, Dominion Petroleum, Falkland Oil & Gas, Tower Resources, Mwana Africa, Beowulf Mining, Griffin Mining news briefs
15 February 2010 | Max Petroleum announced today that the BOR-1 exploration well on the Borkyldakty prospect in Block E has reached a total measured depth of 1,755m, with electric logs indicating 38m of net oil pay over five Triassic sandstone reservoirs at true vertical depths ranging between 1,357-1,536m. Dominion Petroleum announced that agreement in principle has been signed with Les Etablissements Maurel & Prom to farm in to the Mandawa and Kisangire PSAs (Production Sharing Agreements) subject to execution of final agreements. Dominion Petroleum announced that agreement in principle has been signed with Les Etablissements Maurel & Prom to farm in to the Mandawa and Kisangire PSAs (Production Sharing Agreements) subject to execution of final agreements. Mwana Africa announced an updated resource estimate for its 80% owned Zani-Kodo prospect in the Ituri Region of eastern DRC.
Faroe Petroleum, Egdon Resources, Global Energy Development, Central African Gold, Centamin Egypt news briefs
12 February 2010 | Faroe Petroleum announced that drilling has commenced on the Fogelberg prospect, located in licence PL433 of the Norwegian Sea. Fogelberg is a substantial oil prospect located some 10km to the north of the producing Ãsgard oil Field. Egdon Resources provided an update on drilling operations at the Kirklington site in its Nottinghamshire licence PEDL203. Global Energy Development announced that it has signed a rig contract with Saxon Energy Services de Panama S.A. for the drilling of the Rio Verde 2 exploratory well within the Colombian Rio Verde contract. Central African Gold announced that it has entered into new loan agreements with its two largest shareholders, ECP Africa Fund II PCC ('ECP') and HBD Zim Investments Limited('HBD') ( 'NLAs') in an aggregate amount of circa US$1M (approximately £690,000). ECP and HBD together hold 78.2 per cent. of the issued share capital of the Company. Centamin Egypt announced the completion of Stage 1 commissioning activities with remaining Stage 2 construction activities well advanced and the process Plant performing in accordance with design specifications.
San Leon Energy, Roxi Petroleum, Cluff Gold Plc, African Minerals, Namakwa Diamonds, Horizonte Minerals, Pangea DiamondFields news briefs
11 February 2010 | San Leon Energy announced that, further to the announcements on 23 December 2009 and 29 January 2010 regarding the provision of a EUR500,000 working capital facility to Island Oil & Gas plc, the Company has agreed to extend the Loan to 26 February 2010. Roxi Petroleum announced that, together with its partners Roxi's indirect 59% owned subsidiary Galaz Energy BV ("GEBV"), it has agreed through back to back agreements to sell a 40% interest in the operating company for the NW Konys Field, Galaz and Company LLP ("Galaz") to the Korean multinational trading company LG International Corp. Cluff Gold Plc announced that total production was 28,335 ozs from Kalsaka and 9,640 ozs from Angovia since their respective commissioning on 30 June 2009 and 30 September 2009, equating to an annualised production rate of 95,038 ozs. African Minerals announced that further to its press announcement of 21 January 2010, the conditions precedent to the cash placing to raise a gross amount of £80M, in which a total of 20,000,000 new common shares of $0.01 each in the Company were placed with institutional investors at a price of 400 pence per share, have been fulfilled in all respects save admission of the New Shares to trading on AIM.
Xcite Energy, Europa Oil & Gas, Dana Petroleum, Chariot Oil & Gas, EMED Mining, Chaarat Gold, Arian Silver Corporation news briefs
10 February 2010 | Xcite Energy announced that it has exchanged a letter of intent with Applied Drilling Technology International for the provision of a heavy duty, deep water jack-up drilling unit to undertake the drilling and testing of the 9/3b-R well on the Company's Bentley field in the UK North Sea. Europa Oil & Gas announced an update on operations at the Hykeham-1 well in the UK midlands. Dana Petroleum announced that it has made a second gas discovery in the West El Burullus concession, offshore Nile Delta, Egypt in which Dana holds a 50% interest and operated by Gaz de France (GDF). Chariot Oil & Gas announced that Chariot and its wholly owned subsidiary Enigma Oil & Gas Exploration have reached an agreement with High Resolution Technology & Petroleum Ltda (now known as "Integrated Petroleum Expertise Company - Serviços Em Petróleo Ltda"), to settle the dispute surrounding the termination of the service agreement which had been referred to arbitration.
Victoria Oil & Gas, Mediterranean Oil & Gas, Max Petroleum, Atlantic Coal, Red Rock Resources, European Nickel news briefs
9 February 2010 | Victoria Oil & Gas announced that Well La-106 was spudded on 6 February 2010 at its Logbaba gas and condensate project in Douala, Cameroon. Mediterranean Oil & Gas announced an increase in reserves at its Ombrina Mare field in the central Adriatic. Max Petroleum announced that the Company has received approval from the relevant Kazakhstan authority for its 2010 work programme for the Astrakhanskiy Licence, which includes the drilling of the first exploration well in 2010. Atlantic Coal announced that it has completed a placing of 80,000,000 new ordinary shares of 0.07 pence each in the Company at a price of 0.5p per share, raising £400,000 for the Company. European Nickel announced that further to the announcement of 2 February 2010 of its placing to raise US$19.4M, European Nickel PLC, confirms that, on 8 February 2010, the Company repaid the US$5M loan provided by Endeavour Financial Corporation to the Company as previously announced on 27 July 2009 and as increased on 8 December 2009.
Heritage Oil, Independent Resources, Xcite Energy, Petrolatina, Greystar Resources, Obtala Resources news briefs
8 February 2010 | Heritage Oil issued an update on the proposed disposal of the Company's entire interest in Block 1 and Block 3A in Uganda. Independent Resources announced an update on the appraisal campaign that is designed to demonstrate commercially-viable natural gas flow from the Fiume Bruna coal seam, located near Grosseto, Italy. Xcite Energy announced an offering of new ordinary shares of the Company which will be offered for sale pursuant to a short form prospectus filed in all of the provinces of Canada except Québec. Petrolatina announced that an updated assessment of the reserves has been completed by Ryder Scott. Greystar Resources announced that the Company has received proceeds of C$6,093,947 from the exercise of 2,467,185 common share purchase warrants at a price of C$2.47 per share.
Heritage Oil, Independent Resources, Xcite Energy, Petrolatina, Greystar Resources, Obtala Resources news briefs
8 February 2010 | Heritage Oil issued an update on the proposed disposal of the Company's entire interest in Block 1 and Block 3A in Uganda. Independent Resources announced an update on the appraisal campaign that is designed to demonstrate commercially-viable natural gas flow from the Fiume Bruna coal seam, located near Grosseto, Italy. Xcite Energy announced an offering of new ordinary shares of the Company which will be offered for sale pursuant to a short form prospectus filed in all of the provinces of Canada except Québec. Petrolatina announced that an updated assessment of the reserves has been completed by Ryder Scott. Greystar Resources announced that the Company has received proceeds of C$6,093,947 from the exercise of 2,467,185 common share purchase warrants at a price of C$2.47 per share.
Melrose Resources, Kirkland Lake Gold news briefs
5 February 2010 | Melrose Resources announced a new exploration discovery and commencement of seismic data acquisition in Egypt. The South Damas No.1 exploration well has been successfully drilled to test a prospect in the Sidi Salim formation in the South East Mansoura concession, in which Melrose holds a 100% working interest. Kirkland Lake Gold announced the closing of its previously announced bought deal private placement for gross proceeds of C$32,014,125. The net proceeds of the Offering will be used for exploration and development of the Company's mineral projects, working capital, and general corporate purposes.
Circle Oil, Victoria Oil & Gas, Frontera Resources, Resaca Exploitation, Erratum, Jubilee Platinum, Alexander Mining news briefs
4 February 2010 | Circle Oil announced that the Geyad-2X ST1 well has commenced production in the onshore NW Gemsa Concession in Egypt. Victoria Oil & Gas announced an update on the passive seismic spectroscopy survey at its Logbaba gas and condensate project in Douala, Cameroon. Frontera Resources announced that it has completed a new phase of drilling operations at the Mirzaani and Mtsare Khevi Fields within its Shallow Fields Production Unit, Block 12, in the country of Georgia. Resaca Exploitation announced the Company has received a firm commitment for a new $200M senior secured revolving credit facility provided by Union Bank. Alexander Mining announced that it has been approached by a number of multinational mining companies which have a commercial interest in production using its AmmLeach ammonia leaching technology under licence.
Global Energy Development, Red Rock Resources, Stratex International, Beowulf Mining, Anglo Asian Mining news briefs
3 February 2010 | Global Energy Development announced details of its new reserve report dated 31 December 2009, which has been produced by the independent petroleum engineers Ralph E. Davis Associates (RED). Red Rock Resources announced that all voting, sale, and co-operation arrangements and understandings with Pallinghurst Resources Australia Limited in relation to the shareholdings of Red Rock and Pallinghurst in Jupiter Mines Ltd have been terminated. Stratex International announced the formal signing of a Definitive Agreement with private Turkish company NTF Insaat Ticaret Ltd Sti following the announcement of an initial MOU on 15 June 2009. Beowulf Mining announced that further to the announcement of 29 September 2009, it has recently received an operational update from its joint venture partner, Energy Ventures Limited, in respect of the Company’s Ballek joint venture project. Anglo Asian Mining announced that the Company produced 3,483 oz of gold in the month ended 31 January 2010, bringing total production to 14,848 oz.
Ascent Resources, Rockhopper, Sterling Energy, Petroceltic, Cove Energy news briefs
2 February 2010 | Ascent Resources through its wholly owned subsidiary Ascent Resources Italia srl, announced it will commence the re-drilling of the Fontana-1 well in Hungary in the next few days. Rockhopper and Desire Petroleum announced that two drilling slots using the Ocean Guardian Drilling rig have been formally assigned to Rockhopper for the upcoming exploration programme in the Falklands. Sterling Energy announced the spudding of the Sangaw North-1 exploration well in Kurdistan. Petroceltic announced that well testing of the Objective Devonian F2 formation at well INW-2 in Algeria has been successful, with a gas well test rate of 16.7MMscfd with a flowing wellhead pressure of 347.5 PSIG on a 96/64" choke setting. Cove Energy provided an update on activities.
Circle Oil, Petroneft, Serica, Baobab Resources plc, Nyota Minerals news briefs
1 February 2010 | Circle Oil announced that Circle Oil Maroc Ltd ("COML"), its wholly owned subsidiary, has signed a Petroleum Agreement with the Office National des Hydrocarbures et des Mines ("ONHYM") for the Lalla Mimouna area covering the Exploration and Exploitation of Hydrocarbons for the Lalla Mimouna North and Lalla Mimouna South exploration permits situated in the Rharb Basin, Morocco. Petroneft announced that Arawak Energy Limited has exercised its option to acquire a 50% interest in the Ledovy Licence (Licence 67). Serica announced that it has secured the use of the Ensco 80 jack-up rig for drilling an exploration well on the Conan prospect in the UK East Irish Sea Blocks 113/26b and 113/27c. Baobab Resources plc announced results from two of three diamond drill holes completed prior to the close of the 2009 field season at the South Zone prospect of the Tete magnetite-ilmenite project. Nyota Minerals announced the completion of the preliminary desktop Scoping Study indicates Tulu Kapi gold project's economic viability.
Dana Petroleum, Weatherly International news briefs
29 January 2010 | Dana Petroleum announced that its wholly owned subsidiary, Dana Petroleum Norway AS, has been awarded interests in nine offshore blocks under six new Production Licences by the Norwegian Ministry of Petroleum and Energy. Weatherly International announced that following the proposed sale of its Tsumeb smelter business, it has terminated its agreement for the sale of the Kombat mine.
Sage sails through challenging market conditions
28 January 2010 | Recent reports on interim update (26th January 2010) from Sage indicated that its first quarter trading was on par with expectations. Despite the demanding market conditions, the passive software-services and software markets were counterbalanced by a growth in subscriptions at the accountancy software firm.
Severn Trent, swims against the tide!
28 January 2010 | Severn Trent, the biggest water company in Britain, next to United Utilities, in its recent trading update, announced that the decline in water usage by non-commercial customers had stabilized considerably. Hence this fall is expected to have a lesser impact on the revenues than anticipated.
United Utilities rises again
28 January 2010 | The recent trading update given by the United Utilities group was welcomed by the investors. The company provided confirmation that with its confident outlook of the future, the pricing regulations placed by the industry regulator Ofwat will be accepted with no questions posed.
William Morrison hands over the reins to Dalton Philips
28 January 2010 | By approaching Dalton Philips of Canadian grocer Loblaw with a proposal to be the next boss after turning a blind eye to its internal candidates,William Morrison has sparked talks of a an ambitious expansion.
Tullow Oil, Leed Petroleum, Petroneft, Aurelian Oil & Gas, Thor Mining, Brinkley Mining news briefs
27 January 2010 | Tullow Oil announced its intention to place up to 80,431,796 new ordinary shares in the Company with both new and existing institutional investors. Leed Petroleum announced that it has signed a turnkey contract with Applied Drilling Technology, Inc. to drill the Ship Shoal 201 A-6 well and anticipates that the well will be spudded shortly. Petroneft provided an update on operations at Licences 61 and 67 in the Tomsk Oblast, Russia. Aurelian Oil & Gas announced that it has priced its previously announced proposed placing at 32p per share which will raise gross proceeds of approximately EUR39 million through the issue of 106,433,438 new ordinary shares. Brinkley Mining announced that it had purchased.
Nighthawk, JKX Oil & Gas, Gulfsands Petroleum, Heritage Oil, Metals Exploration, Coal of Africa news briefs
26 January 2010 | Nighthawk announced an update in respect of the winter drilling programme on the Jolly Ranch project. JKX Oil & Gas announced its intention to place 14,257,270 new ordinary shares in the Company with institutional investors at a Placing Price of 265p/share to raise £37.8 million before expenses. Gulfsands Petroleum announced that it has now received confirmation from Syria's General Petroleum Corporation that Gulfsands Petroleum Syria Limited has been granted permission to develop the Yousefieh Oil Field accumulation in Block 26 North East Syria. Heritage Oil announced that at its General Meeting, held yesterday, shareholder approval was gained for the proposed disposal by the Company of its entire interests in Block 1 and Block 3A in Uganda either to Tullow Uganda Limited or ENI International B.V. Metals Exploration announced guidance on the updated economic parameters of its 1.5M ounces of gold and 25.4M pounds of molybdenum Runruno project on the island of Luzon in the northern Philippines. Coal of Africa announced the completion of the acquisition of NuCoal Mining (Pty) Limited ("NuCoal"), following fulfillment of the suspensive conditions to the Share Sale Agreement signed on 29 October 2009.
Oilex, San Leon Energy, Stratic Energy, Great Eastern Energy, Bowleven, Shanta Gold Ltd, Sunkar Resources, African Minerals, Vatukuola Goldmines news briefs
25 January 2010 | Oilex announced that the log evaluation of the primary objective Elang/Plover Formation sandstones in the Lolotoe-1 well indicates that no commercial hydrocarbon zones are present. San Leon Energy (Research restricted) announced that the irrevocable undertakings to Platinum and Gartmore in regards to San Leon’s offer for Island Oil & Gas have been extended on the existing terms until 14 April 2010. Stratic Energy announced the signature of loan facility amendment agreements with its banking syndicate incorporating an additional line of credit. Great Eastern Energy announced it has entered long term Gas Sale Agreements with three additional customers for the supply of 1.84mmscfd of gas. Bowleven has signed a letter of intent for a rig for its planned drilling campaign on the Etinde Permit, offshore Cameroon, and completion of legal documentation is expected shortly, with the drilling program scheduled to commence as planned in April or May 2010 with the spudding of the IE appraisal well. Shanta Gold Ltd announced the completion of initial metallurgical optimisation studies on ore samples from its Chunya project in southern Tanzania. African Minerals announced an underwritten cash placing of 20,000,000 new common shares of the Company at 400 pence per share to raise £80M, before expenses on 21 January 2010. Vatukuola Goldmines announced the initial results from its exploration programme targeting an economic resource suitable for surface mining.
CAZA Oil & Gas, Tullow Oil, PetroLatina, KEFI Minerals, Central Rand Gold, Gem Diamonds Ltd news briefs
22 January 2010 | CAZA Oil & Gas announced an operational update on its activities in the Abo/Wolfcamp horizontal oil play in New Mexico, USA where it has now drilled four wells. Tullow Oil announced that the Kasamene-2 appraisal well, located in the Butiaba region of Uganda Block 2, has encountered 39m of net oil pay and 8m of net gas pay within a 132m gross interval. PetroLatina announced the appointment of Evolution Securities Limited as Joint Broker, effective immediately. KEFI Minerals (Speculative BUY) announced it has successfully placed a further 9,375,000 ordinary shares of 1p each ("Ordinary Shares") at a price of 1.6 pence per Ordinary Share to raise £150,000 before expenses, subject to receipt of the placing funds and admission of the Placing Shares to trading on AIM. Central Rand Gold announced that it has placed a total of 24,691,964 new ordinary shares of 1p each in the capital of the Company at a price of 15p per Placing Share to raise £3.7M (US$6.0M). Gem Diamonds Ltd announced a trading update for the period from 1 October 2009 to 31 December 2009.
Kesa Electricals falls behind in the UK
22 January 2010 | The trading updates of Europe’s third largest electrical-goods retailer, Kesa Electricals, were delivered recently covering a ten week period up to 8th January 2010. The retailer, trading as Darty in France and Comet in Britain, witnessed a sales drop of 0.3 percent, at stores open for more than a year, in the ten week phase. The analyst forecasts predicted a four percent decline and the group saw a Comet Christmas sales drop around 3.9 percent, with gross margin down fifty basis points. This was attributed to tougher comparatives with the same period last year, during which Comet was enhanced by the temporary reduction in VAT.
Have football results helped William Hill?
22 January 2010 | With the attainment of Stanley Leisure’s 624 betting shops, there was a remarkable growth in the value of the shares of William Hill, the bookmaker, after floating at 225 p a share in June 2002.This enabled the group to position itself as the country’s biggest shop operator, beating its rival Ladbrokes-with over 2200 outlets. An amendment in the law, permitting Fixed Odds Betting Terminals-effectively casino games-into betting shops fostered performance. To add to this, the government’s replacement of betting duty with tax on the gross profits of bookmakers also facilitated the overall improvement. Nonetheless, apprehensions about the financial health of consumers going forward and the weight of debts built up by the company over the good times have been a matter of concern over the last couple of years.
Circle Oil, Gulfsands Petroleum, Tullow Oil, Greystar Resources Ltd, African Eagle Resources, African Minerals news briefs
21 January 2010 | Circle Oil announced that the Geyad-2X ST1 appraisal well has been successfully drilled and tested in the onshore North West Gemsa Concession in Egypt. Gulfsands Petroleum announced an update on the drilling of the Khurbet East-14 delineation well, located approximately 1km north of delineation well KHE-12 and approximately 4.9km south of the KHE-1 discovery well. Tullow Oil announced that the Tweneboa-2 exploratory appraisal well, being drilled 6km southeast of the Tweneboa-1 discovery has intersected a significant combined hydrocarbon column. Greystar Resources Ltd announced the initial assay results from the targeted drill program to investigate high grade mineralization at the Los Laches area of the Angostura gold-silver deposit. African Eagle Resources announced the results from our Dutwa nickel project in Tanzania. African Minerals announced that it has conditionally raised £80M, gross, (approximately US$130M) by way of a cash placing with institutional investors.
Coastal Energy, Serica, Soco International, Connemara Mining news briefs
20 January 2010 | Coastal Energy announced the results of the Songkhla B-01 exploration well on Block G5/43 in the Gulf of Thailand. Serica announced that it has reached agreement with Agora Oil & Gas for the farm-out of UK East Irish Sea Blocks 113/26b and 113/27c, which contain the Conan and Doyle prospects and in which Serica presently holds a 100% interest. Soco International announced its intention to conduct an accelerated bookbuild, non pre-emptive placing of up to 7,234,347 new ordinary shares. Connemara Mining announced that a step-out drill hole at the Stonepark North zone intersects more high grade zinc-lead ore.
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| Latest USA Stock Market Reports |
US stock market opening report (March 09, 2010, Tuesday)
European bourses opened in minor positive territory, however soon lost strength following downbeat comments from Fitch on European sovereign ratings, which provided strength to the USD index due to the risk-averse trade that in turn weighed upon commodity-linked stocks. Comments from Fitch combined with those from Moody’s on possible downgrade of some British banks adversely affected the financial sector. Moving into the North American open, European equities are trading in negative territory with financials and basic materials being the worst performing sectors. Fitch said Greece bailout is too uncertain to factor into rating, and Portugal may be downgraded if consolidation is insufficient, however Greek contagion risk to Portugal and Spain is not as great as market believes. Fitch further said that among larger AAA sovereigns, urgency is greatest for UK, Spain and France, and it hasn’t seen credible exit strategies from most nations. Fitch also said that US is vulnerable to interest rate shocks, however there is no pressure on US credit rating in short-to-medium term. (BBG/RTRS)
US stock market daily report. (March 09, 2010, Tuesday)
In today's market update stocks were on the rise after a rocky start on merger deals and profit reports. Today marks the one year anniversary of the day the stock market began its rally that would bring stocks back from 12-year lows reached during the financial crisis. Last year on March 9, 2009, Dow Jones industrial average ended the day at a low of 6,547.05. Since that day, the Dow has gained 61.2% of those losses taking it to 10,552.52. Along with the Dow, the Standard & Poor's 500 index gained 68%, the index was at its lowest point in 12 1/2 years. The Nasdaq saw a gain of 84%, pulling it off of six-year lows; overall, stocks are still over 25% below their highs of 2007. Analysts say that the rally was one of the market's best rallies since 1930; they say part of the reason why the market started recuperating losses was due to Citigroup announcing they had their best quarterly performance since 2007. That was the day the Dow surged 379 points! In corporate news; Merck and Sanofi-Aventis announced they are combining animal health care businesses to create one of the largest in the world, combined business will have around a 29% market share in a global market worth approximately $19 billion. Texas Instruments announced Monday that they will update its first-quarter profit estimates be between $0.48 and $0.52 a share on revenue of $3.07 billion to #3.19 billion. The Dow was up 21 points with just under an hour left in the trading session, there was some decent trading action in the afternoon. Commodity prices mostly fell, gold fell $2.20 to $1,121.80 and crude oil fell $0.61 to $81.26. Bond prices rose, the yield on the benchmark 10-year note fell to 3.67 from 3.70 Monday.
US stock market daily report. (March 05, 2010, Friday)
Stocks rallied this morning on news that the unemployment rate fell than expected. Labor Department reported that employers cut 36,000 jobs, keeping the unemployment rate at 9.7%. Today's numbers suggest that the job market is slowly starting to recover, analysts expected last months snowstorms on the East Coast would affect the unemployment rate. Analysts said economy the economy would have probably seen a gain of jobs gain in February, only the second time in two years. Health care and business industries showed very solid job growth, the report also showed the number of temporary workers increased. The number of long-term unemployed fell for the first time since November 2008, numbers fell to 6.1 million from 6.3 million. Some bad news did come out of the report, it showed that the average work week dropped to 33.8 hours from 33.9 last month. Typically employers usually increase the hours for their current employees before hiring new ones, that is a signal that when it comes time to jobs, it is going to be a long road to recovery. Greece announced they approved a package to save them around $6.52 billion in budget costs and cut the country's ballooning deficit, the news caused riots in Greece, citizens disapprove of the plan to rais taxes and cut workers' salaries. With less than an hour left in the trading session, the Dow Jones Industrial Average was up triple digits. Commodity prices rose; gold rose $4.40 to $1,137.50 and crude oil rose $1.55 to $81.76. Bond prices fell, the yield on the benchmark 10-year note rose to 3.68 from 3.60 Thursday.
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| USA Stocks Recommendations |
Intel Corp. (Nasdaq:INTC) is poised to top estimates over the next two quarters, 8 September 2009
Intel Corp. (Nasdaq: INTC) is a cyclical company. That is, its stock does extremely well when the economy is ready to accelerate, and does poorly when the economy decelerates. So it’s no wonder that last year the stock fell more than 50% from the record-high of $27.78 a share it reached December 2007. However, the company has rallied more than 50% from its Feb. 23 low of $12.08 a share. It closed Friday at $19.64.
Verint Systems price target reduced, 7 December 2007
RBC Capital Markets reduced its price target on Verint Systems from $34 to $25.
Thomas Weisel upgraded Intel to "overweight", 6 December 2007
Thomas Weisel Partners analyst Kevin Cassidy lifted price target on Intel shares from $28 to $33 per share, citing an expected jump in computer demand during 2008.
| | USA News |
On the cusp of job growth, 10 March 2010
Under the weather, 1 March 2010
Everything you wanted to know about the fed..., 23 February 2010
Further evidence of a recovery, 17 February 2010
The January jobs data, 9 February 2010
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