Global Petroleum records rise in half-year profits
14th Mar 2013 14:29
Global Petroleum posted a jump in half-year pre-tax profits Thursday as oil production activities accelerated. Consolidated group profit before tax for the last six months of 2012 came to $224,976, up 1.0% from $222,695 a year earlier. Strong operational performance from the company's two Eagle Fo
Read moreGlobal Petroleum opens data room for prospective partners
14th Jan 2013 08:04
Oil and gas exploration company Global Petroleum has opened a data room for selected prospective partners interested in its stake in its Namibian License. The news comes several months after Global announced its intention to farm down its 85% interest in the Namibian license ahead of further explor
Read moreBroker snap: Optimism fades after Chariot abandons another well
10th Sep 2012 14:21
The news that Chariot Oil and Gas's Kabeljou exploration well was plugged and abandoned as a dry hole prompted most brokers on Monday to either downgrade or put their ratings for the stock under review and significantly reduce their target prices. The Africa-focused oil and gas firm said that the w
Read moreResources round-up: Global Petroleum, Ariana, Edge Resources
23rd Jul 2012 13:09
AIM-listed oil and gas group Global Petroleum has finally completed the delayed interpretation of 2D seismic data in Petroleum Exploration Licence 29, offshore Namibia - in which it owns an 85 per cent interest - meaning that it can now concentrate on finding a suitable partner for the next phases o
Read moreXP Power Chairman buys up 4,000 shares
11th May 2012 16:34
Larry Tracey, the Chairman of power controller manufacturer XP Power, treated himself to 4,000 shares in the company, despite the company last month warning that the global economic environment remains weak for the equipment which they manufacture. Tracey, who joined XP's board 22 years ago, bought
Read moreLamprell director sells another load of shares
3rd May 2012 15:20
Scott Doak, the Integration and Development Director of Lamprell, the FTSE 250 oil and gas engineering firm, has once again diminished his stake in the firm, this time selling 200,000 shares. The sale, which follows his decision to drop 21,679 the previous week, was made in the same week the compa
Read moreResource stocks round-up: ZincOx, Cadogan, Afferro...
30th Apr 2012 10:32
ZincOx Resources says the initial production test at its Korean recycling plant saw production ramped up to 50% of capacity and produced zinc concentrate and direct reduced iron. The operation of the final piece of equipment, the hot briquetting machine, will occur during the next test run. While o
Read moreResources round-up: Forte Energy, Ferrum, Gold Oil...
15th Mar 2012 12:59
Forte Energy, a uranium company, has announced positive assay result from the final seven holes from the recent reverse circulation drilling programme completed at the A238 Prospect in Mauritania. The assay results from the programme have confirmed the mineral resource extension at a depth below t
Read moreResources round-up: Global Petroleum, Trapoil, San Leon...
8th Mar 2012 08:31
Trapoil, the North Sea gas and oil explorer, has reported that operations have begun on the Orchid exploration prospect, where it has a 15% interest. This marks the start of the firm's 2012 exploration programme, which it is currently intended will include the drilling of up to a total of seven well
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 moreLegal & General vice chairman stocks up
2nd Dec 2011 14:58
Legal & General's vice chairman and senior indepedent director Henry Staunton purchased over £10,000-worth of shares, one month after the firm reported a slight drop in sales. Staunton, who was appointed to the board in 2004, bought 9,708 shares at 105.60p each for a total of £10,252. At the sta
Read moreGlobal Petroleum buoyed by market update
31st Oct 2011 14:42
Global Petroleum saw its share price slightly rise after updating the market on its progress for the quarter ended September. During the period the firm acquired Jupiter Petroleum, which holds prospective oil and gas exploration interests in offshore Namibia and in offshore Juan de Nova, a French
Read moreGood results at Global Petroleum's second well in Texas
11th Oct 2011 09:34
Global Petroleum said the second well in the Eagle Ford shale prospect in Texas is producing more oil than the first one did in its first 30 days of production. The operator of the prospect, Texon Petroleum, has reported that during its first 30 days of production, the second Eagle Ford well produc
Read moreGlobal Petroleum hails good result
15th Aug 2011 15:49
Global Petroleum has announced that the latest Leighton Olmos well in McMullen County, Texas, has begun to flow oil and gas. This is the ninth well targeting the Olmos reservoir in which Global has a 15% working interest (11.25% net revenue interest). The group said that the well will be connecte
Read moreLondon close: FTSE 100 slides as worries persist
8th Jun 2011 16:38
Stocks finished firmly in negative territory as worries over the state of the global economy continued. Stocks finished lower in the US last night after downbeat comments from Federal Reserve president Ben Bernanke on US economic prospects. After a hesitant start, London's leading share index took
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