London open: Chinese trade data depresses miners
10th Aug 2012 08:50
Mining stocks are weighing down the Footsie in early trade after weak Chinese trade data was released on Friday morning. Chinese exports grew 1.0% from a year earlier in July, which is not the sort of growth the market has become used to; economists had plumped for a growth rate of 8.6%. Imports,
Read moreGulf Keystone reaches 'major milestone' at Shaikan
10th Aug 2012 07:50
Oil and gas company Gulf Keystone has reached a 'major milestone' by submitting a declaration of commercial discovery for the Shaikan Block in the Kurdistan Region of Iraq. The firm, together with Kalegran and Texas Keystone, acts as the contractor of the production sharing contract for Shaikan. T
Read moreGulf Keystone: Drilling starts on Gulak-1 well
23rd Jul 2012 08:59
Gulf Keystone, which has a 20% working interest in the Akri-Bijeel block in the Kurdistan Region of Iraq, has reported that the Gulak-1 exploration well on the block has begun drilling. Gulf has previous said it plans to sell its interest in the block. Gulak-1 is the fourth exploration well to b
Read moreFriday broker round-up
20th Jul 2012 10:17
Capita: UBS ups target from 725p to 740p, buy rating unchanged. Euromoney: Peel Hunt downgrades to hold. Gulf Keystone: HSBC upgrades to overweight. Halfords: UBS cuts target from 240p to 205p, neutral rating kept; HB Markets upgrades to buy. Hammerson: Bank of America Merrill Lynch downgrades t
Read moreFriday newspaper round-up: Food crisis, LSE, Microsoft
20th Jul 2012 06:55
The world is facing a new food crisis as the worst US drought in more than 50 years pushes agricultural commodity prices to record highs. Corn and soyabean prices surged to record highs on Thursday, surpassing the peaks of the 2007-08 crisis that sparked food riots in more than 30 countries. Wheat p
Read moreGulf Keystone reserves soar at Shaikan
19th Jul 2012 10:42
Gulf Keystone has unveiled a significant upgrade of the gross oil-in-place volumes for the Shaikan field in the Kurdistan Region of Iraq to a mean value of 13.7bn barrels. The field has between a probable value of 12.4bn barrels to proven value of 15bn barrels of oil-in-place, giving an average of
Read moreWednesday broker round-up
11th Jul 2012 08:10
ASOS: HSBC downgrades to neutral, target lifted from 1,780p to 1,950p. Avanti Communications: Jefferies reiterates buy rating and 600p target. Aviva: Morgan Stanley upgrades to overweight. Balfour Beatty: UBS downgrades to neutral, target cut from 340p to 310p. BTG: Jefferies downgrades from buy
Read moreGulf Keystone strikes more oil in Iraq
26th Jun 2012 13:38
Gulf Keystone Petroleum said it had recorded solid preliminary results at its latest well in Kurdistan Region of Iraq. The company said it had completed the drilling operations at its Shaikan-5 well, the fourth well in the five-well appraisal programme. Results indicated a continuous oil column wi
Read moreGulf Keystone's Ber Bahr well needs more tests
29th May 2012 12:45
Gulf Keystone Petroleum, an oil company focused on the Kurdistan region of Iraq, has revealed that the much anticipated Ber Bahr 1 exploration well in Kurdistan has encountered a 300 metre oil column, although the commercial potential of the well is as yet unknown. The well's operator, Genel, admi
Read moreTuesday tips round-up: Entertainment One, AVEVA, Gulf Keystone
29th May 2012 07:01
Entertainment One owns Peppa Pig, but the real reason to consider the stock, thinks Questor in the Telegraph, is the company's content distribution deal with Amazon's subsidiary LOVFiLM. There is a potential tie-up with Alliance Films on the horizon, although the funding looks tricky. But that doesn
Read moreGulf Keystone eyes 'fantastic 2012'
28th May 2012 08:08
Gulf Keystone, the oil company focused on the Kurdistan region of Iraq, hailed an 'outstanding' 2011 with more to come in 2012. This positivity didn't stop the company reporting pre-tax losses of $63.8m in 2011, equivalent to 8c per share, as well as saying it would not pay a dividend. The company
Read moreResources round-up: Gulf Keystone, Edenville Energy, Nostra Terra ...
11th May 2012 14:10
Gulf Keystone has begun drilling on the Bakrman-1 exploration well spudded on the Akri-Bijeel block in the Kurdistan Region of Iraq. It is the third exploration well to be drilled at the site as part of an appraisal of the Bijell discovery. The appraisal is part of a much larger exploration programm
Read moreResources round-up: Cove, Minera, Gulf Keystone
10th May 2012 15:29
Cove Energy has reported that the government of Mozambique has consented to the indirect transfer of Shell Exploration and Production's 8.5 per cent participating interest in Rovuma Offshore Area 1 which would arise if Royal Dutch Shell goes ahead with the planned takeover of Cove. Minera, a Latin
Read moreGulf Keystone reports successful drilling in Kurdistan
30th Apr 2012 09:42
Gulf Keystone Petroleum (GKP), the northern Iraq-focused oil explorer, has risen sharply this morning after updating the market on its drilling programme. GKP has exploration rights for the Shaikan block in the Kurdistan regiion of Iraq. This block has independently audited volumes of between 8bn b
Read moreBroker tips: Barclays, Heritage Oil, Gulf Keystone
23rd Apr 2012 11:30
Nomura has retained its neutral stance and 268p target price for UK lender Barclays ahead of its first-quarter statement due on Thursday April 26th. Despite its cautious view, Nomura does say that it prefers Barclays to its Eurozone peers, "given the headwinds faced by continental European economie
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