Gulf Keystone achieves high flow rate on Shaikan-3
14th Feb 2011 14:11
Gulf Keystone said the Shaikan-3 shallow appraisal well in the Kurdistan Region of Iraq has achieved a flow rate of 9,800 barrels of oil per day (bopd). The higher rate achieved by Shaikan-3, an improvement of some 30% on the previously reported rate of 7,480 bopd for Shaikan-1, is due to the remo
Read moreLondon close: Strong start to 2011 continues
5th Jan 2011 16:44
An afternoon rally helped the FTSE 100 build on yesterday's strong start to the year and stay at levels not seen since the first half of 2008, well in advance of the global economic crash. The turnaround in fortunes was inspired by some strong US jobs data, with payroll processor ADP reporting a re
Read moreLondon afternoon: Footsie back above 6,000
5th Jan 2011 14:04
Footsie has scrambled back above 6,000 over the lunch time session though the blue-chip index remains slightly lower on the day. Miners remain a drag on the index, with the likes of Antofagasta, Anglo American, BHP Billiton and Kazakhmys falling back in line with softer metals prices. Retailers
Read moreLondon midday: Shares give back some gains
5th Jan 2011 12:07
The FTSE 100 is firmly in the red after yesterday's strong gains amid weakness in the mining and retail sectors. With metals prices falling back following a strong run recently, miners such as Antofagasta, BHP Billiton and Kazakhmys are weak. Retailers are in focus, with Next one of the top riser
Read moreLondon open: Blue chips open lower
5th Jan 2011 08:56
London has opened weaker, continuing the softer trend seen towards the end of yesterday's session with retailers and food groups under pressure. The snow lost Next an estimated £22m of full price sales in the run-up to Christmas - about 2.2% of the season's total sales - although the high street fa
Read moreGulf Keystone pleased with Shaikan-3 test
5th Jan 2011 08:17
Oil explorer Gulf Keystone shares picked up after a bullish update on its Shaikan-3 shallow appraisal well, which tested the Cretaceous intervals in the immediate vicinity its huge Shaikan-1 discovery. As a result of the tests, log evaluations and recovered fluid samples, Gulf Keystone's current P5
Read moreLondon close: Footsie back below 6,000
29th Dec 2010 17:01
Footsie did not stay above 6,000 for long and it ended the day down 13 at 5,996. A strong performance from mining companies, particularly those involved in gold, was not enough to offset a decline in banks, which are weak on worries over the debt issues facing the eurozone. Royal Bank of Scotland
Read moreGulf Keystone denies Excalibur stake claim
29th Dec 2010 14:18
Shares in Gulf Keystone Petroleum have fallen by nearly 15% after Excalibur Ventures claimed that it is entitled to a 30% stake in the AIM-quoted oil and gas explorer's interests in northern Iraq. Gulf Keystone chairman Todd Kozel says that he is confident that he will be able to fight off this cl
Read moreGulf Keystone begins drilling Shaikan-2
1st Dec 2010 10:25
Gulf Keystone has started drilling its Shaikan-2 appraisal well in Kurdistan as part of a programme to significantly increase reserves. So-called P90 volumes - a low-case resources estimate with a 90% probability of being realised - are currently at 1.9bn barrels of oil in place. "In the upside ca
Read moreGulf Keystone encouraged by well results
1st Nov 2010 07:51
Kurdistan-focused oil company Gulf Keystone said log results and oil shows to date from its Sheikh Adi-1 exploration well have been encouraging. Log evaluation from drilling at the Sheikh Adi-1 well indicates high hydrocarbon saturations over a minimum gross interval of 50 metres in the first Creta
Read moreLondon close: Footsie rallies after shaky start
18th Oct 2010 16:48
After a sluggish start to the day, shares closed with good gains following a lively start on Wall Street. Better than expected profits on the back of a decline in provisions for bad loans at Citigroup sparked buying interest. Mining giants BHP Billiton and Rio Tinto have confirmed that their propo
Read moreLondon afternoon: Equities push on
18th Oct 2010 14:54
Leading shares added to the morning's gains over the lunch time session though miners remain under a cloud as metal prices retreat. Mining giants BHP Billiton and Rio Tinto have confirmed that their proposed $116bn Pilbara iron ore joint venture is dead in the water. The companies had agreed in D
Read moreLondon midday: HSBC says get out of copper producers
18th Oct 2010 11:26
The blue-chip index ended the morning barely changed which, given that virtually all of the mining stocks were lower, counts as some sort of moral victory. Mining giants BHP Billiton and Rio Tinto have confirmed that their proposed $116bn Pilbara iron ore joint venture is dead in the water. The c
Read moreLondon open: Weak start despite M&A burst
18th Oct 2010 08:58
London has made a cautious start to the day with miners weak though a burst of M&A has lifted the mood elsewhere. Mining giants BHP Billiton and Rio Tinto have confirmed that their proposed $116bn Pilbara iron ore joint venture is dead in the water. The companies had agreed in December of last ye
Read moreGulf Keystone bags £109m to drill Kurdistan
18th Oct 2010 07:48
Gulf Keystone Petroleum has raised £109.24m from a placing to help speed up its drilling programme in Kurdistan. There was no shortage of takers as the fundraising was oversubscribed. Just over 78m shares were bought by existing shareholders for 140p each. Money will be spent on contracting a th
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