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FOGLWed, 22nd Feb 2012 11:25
Falkland Oil and Gas said it had discovered gas at its Loligo exploration, but was unable to determine whether the gas had any liquid content. The firm said it would plug and abandon the well in the the East Falkland basin. It added that it would be premature to drill a second well at the current lo
Read moreFalkland Oil and Gas shares lost nearly a quarter of their value on Monday after the firm said drilling at the Loligo prospect was running five days behind schedule, largely as a result of having to run an additional string of casing in the top section of the well. The firm added that no abnormal
Read moreFalkland Oil and Gas (FOGL) pared back its losses in the first half and said it had moved into a very exciting phase for the business. The firm, which is exploring to the South and East of the Falkland Islands, posted a loss of $0.2m, a significant improvement on the previous year when it was $3.6m
Read moreShares in Falkland Oil and Gas (FOGL) raced ahead on Monday after the company announced a farm-out agreement with US giant Noble Energy, something which provides 'valuable downside protection' to the AIM-listed explorer and production company, according to analysts. Noble will farm-in to the Northe
Read more- Eurozone back in the spotlight - Monti warns about Eurozone break-up - M&S up on bid rumours The Footsie declined in early trading on Monday as Eurozone concerns dampened sentiment; stocks were pulling back from a strong surge on Friday after US jobs data smashed expectations. Analyst Moyeen Isl
Read moreAstraZeneca: UBS ups target from 3,500p to 3,600p, buy rating kept. Berkeley: Investec raises target from 1,500p to 1,560p, buy rating kept. Catlin: Nomura reiterates buy rating and 506p target. Centrica: Deutsche Bank downgrades to hold from buy, target cut from 365p to 320p. Falkland Oil and G
Read moreFalkland Oil and Gas (FOGL) is to farm-out an interest in its Northern Area Licences to Noble Energy which should 'substantially' improve the group's financial position. Noble will farm-in to the Northern Area Licences for a 35% interest except for two excluded areas. FOGL, which is currently the o
Read moreGold and copper exploration company KEFI Minerals pleased investors after it said tests on a site in Saudi Arabia confirmed the presence of high grade gold and silver over substantial widths and strike lengths. It said diamond drilling would begin at the Jibal Qutman Licence in the current quarter.
Read moreARM: Citigroup cuts target from 730p to 600p, buy recommendation maintained. AstraZeneca: Bernstein reduces target from 3,037p to 3,002p, market perform rating kept. Beazley: JP Morgan Cazenove raises target from 147p to 155p, neutral rating kept. Bodycote: JP Morgan Cazenove cuts target from 437
Read moreThe 65bn dollar (42bn pound) mega-merger between commodities giant Glencore and miner Xstrata was close to collapse last night after Qatar's sovereign wealth fund said it was unhappy with the deal. In a shock announcement, Qatar Holdings, Xstrata's second-biggest shareholder with 10.4 per cent, said
Read moreFalklands Oil and Gas (FOGL) has executed a farm-out agreement with Edison International under which Edison will farm in and earn a 25 per cent interest in FOGL's northern area licences. Edison will also farm in a 12.5% interest in FOGL's southern area licence and pay its pro-rata share of certain
Read moreAdvanced Medical Solutions: Peel Hunt upgrades to buy. Cairn Energy: UBS cuts target from 365p to 275p, neutral rating kept. Carnival: Jefferies maintains buy recommendation and 2,400p target. Carpetright: Peel Hunt keeps hold rating and 600p target. Cookson: Exane BNP Paribas cuts target from 7
Read moreInvestec has labelled cruise operator Carnival as a 'key sector pick', saying that the recent dip in the share price should be used as a buying opportunity; the target price is lifted from 2,500p to 3,000p. "We advise utilising Friday's drop to invest in our sector key pick, with the group having:
Read moreJefferies has downgraded its ratings for both Tower Resources and Cove Energy as part of its review of the oil and gas exploration and production sector. "We continue to favour E&Ps with high quality exploration with near-term exploration catalysts. We believe oil prices should stabilise as Saudi A
Read morePubs group Mitchells & Butlers reported profit before tax (PBT) of 68m pounds (12.4p earnings per share) for the 28 weeks to April 7th; slightly ahead of Panmure Gordon´s forecast of 63m pounds (11.3p earnings per share), reflecting an 8m pound reduction in interest charges. Year to date like-for-l
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