Broker snap: Chariot's new contract de-risks the investment case, says UBS
7th Mar 2012 11:13
UBS says that Chariot Oil and Gas is one of its top picks in the exploration and production sector following the 'significant' rig contract signed yesterday. The Africa-focused energy explorer secured a drilling rig for its offshore Namibia operations, it said on Tuesday. The Maersk Deliverer rig i
Read moreWednesday broker round-up - UPDATE
7th Mar 2012 08:33
John Wood: HSBC downgrades to underperform from neutral. Aquarius Platinum: Panmure Gordon upgrades to buy from sell. Lonmin: Panmure Gordon upgrades to buy from sell. Admiral: Nomura maintains buy rating and 1,100p target. Anglo American: AlphaValue upgrades to buy from add and lowers pri
Read moreChariot racing on Namibia rig contract
6th Mar 2012 11:29
The Africa focused energy explorer, Chariot Oil & Gas, has managed to secure a drilling rig for its offshore Namibia operations. The Maersk Deliverer rig is expected to arrive on location at the end of March 2012 and drilling of the Tapir South prospect will start shortly afterwards. Chariot recko
Read moreTuesday broker round-up - UPDATE
6th Mar 2012 09:20
Serco: Credit Suisse lifts target price to 650p from 600p, remains at outperform. Capita: Credit Suisse revises target to 820p from 770p, retains outperform. Wolseley: UBS downgrades from buy to hold. Pace: Peel Hunt upgrades from hold to buy, raises target to 99p from 75p. International Power
Read moreBroker snap: Mozambican 'tax-grab' bad news for Cove, says Merchant Securities
2nd Mar 2012 10:19
Merchant Securities has warned investors of east Africa-focused oil and gas group Cove Energy to watch the developments in Mozambique closely, after the firm confirmed the possibility of a tax charge levied by the government. The tax is in connection with the proposed indirect transfer of the Cove'
Read moreBroker tips: Vedanta Resources, Galliford Try, Oil stocks
22nd Feb 2012 11:25
Credit Suisse believes that a major restructuring within the businesses of miner Vedanta Resources would be a "strong positive" and continues to see significant upside in the stock. Credit Suisse said that "if the reports are correct and a merger is successful it would not change group consolidate
Read moreBroker snap: Strong read-across for Cove peers after Shell bid
22nd Feb 2012 09:49
Merchant Securities has highlighted potential for sector peers of Cove Energy after Royal Dutch Shell launched a bid for the AIM-listed oil and gas producer this morning. Shares in AIM-listed Cove Energy jumped after Anglo-Dutch integrated oil company Shell launched a bid of 195p per share. The dea
Read moreLondon open: Footsie slips as ex-div stocks provide a drag
22nd Feb 2012 08:35
- Shell makes near-£1bn bid for Cove Energy. - Markets digest Greek bailout, China data. - Ex-div stocks provide a drag. The FTSE 100 slipped slightly into the red in the opening hour on Wednesday as investors continue to digest the Greek bailout approved on Monday night. Meanwhile, Chinese manufac
Read moreNamibia approves Chariot's farm-out with BP
2nd Feb 2012 08:11
A subsidiary of Chariot Oil and Gas has received regulatory approval for its farm-out agreement with sector giant BP in block 2714A offshore Namibia. The agreement between Enigma Oil and Gas Exploration and BP, first announced on August 8th 2011, has now received full approval from the Ministry of
Read moreWheels come off as Chariot fails to secure drill rig
30th Nov 2011 09:53
Chariot Oil and Gas, has failed to secure a drilling rig for its exploratory campaign off the shore of Namibia. In an announcement issued today the firm says: "the market for deepwater rigs has tightened markedly, making it more challenging to secure an appropriate rig to carry out a one-well progr
Read moreTuesday tips round-up: Morgan Sindall, Centrica, Imperial Tobacco
9th Aug 2011 06:48
Cautious optimism is about the best one can expect from a business such as Morgan Sindall, so heavily exposed is it to a range of activities in construction. The shares have been trending down since the start of the year and sell on less than eight times' earnings and have the support of a yield app
Read moreChariot strikes deal with BP
8th Aug 2011 13:55
Chariot Oil & Gas has announced that its subsidiary, Enigma Oil & Gas Exploration, has entered into a farm-out agreement with BP. Under the terms of the agreement, BP has committed to cover Chariot's cost of drilling the first exploration well at a prospect off the Namibian coast, as well as past c
Read moreChariot Oil raises Namibian resources estimate
1st Jul 2011 10:25
Chariot Oil & Gas has identified that its offshore assets in Namibia have a potential 16.1 billion barrels of oil, an increase from its previous estimate by 3.5% or 535 million barrels. The company said an independent competent person's report showed 14.4 billion barrels of gross P50 (proved plus p
Read moreNamibia approval boosts Chariot Oil & Gas
28th Jun 2011 11:51
Shares in Chariot Oil & Gas raced higher after it said the Namibian government had given its subsidiary Enigma Oil & Gas formal approval to drill of the southern African country's coast. Part of the drilling will be conducted by the Brazilian oil giant Petrobras through a farm-in agreement. "It is
Read moreLondon close: More gains for FTSE 100
31st May 2011 16:38
Stocks built on the strong gains they posted ahead of the long weekend, surpassing the 6,000 point mark but finishing slightly below that psychologically-important level. In company news, Serco, the outsourcing company whose activities include running prisons and London's Docklands Light Railway,mo
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