London close: Further boost for shares
23rd Mar 2010 16:43
Rising commodity prices, US strength and some well-received company updates sent London to a fresh 21-month closing high Tuesday. The leading index hasn't finished up at this level since 19 June 2008 and is just one decent session away from breaking through 5,700. Cairn Energy was easily the most
Read moreLondon afternoon: Full steam ahead for Carnival
23rd Mar 2010 14:15
London's leading shares consolidated gains over the lunch-time trading session after notching up solid gains in the morning. Cairn Energy remains the stand-out performer among blue-chips by some distance. The oil group raised its forecast for peak production from its Indian assets by over a third t
Read moreGulfsands approach worth 315p per share
23rd Mar 2010 08:05
Gulfsands Petroleum has confirmed that bid approach it rejected last week was pitched at price of 315p per share, which would value the whole company at about £381m. The board of Gulfsands, which Syria-focused, reiterated again today it considered the offer to be too low. "As stated on 19 March
Read moreLondon open: Weak start for Footsie
22nd Mar 2010 08:43
London has pulled back from last week's 21-month high after Wall Street's eight-day winning streak ended Friday. Royal Dutch Shell is in the news, after Australian coal bed methane producer Arrow Energy agreed to a raised bid worth A3.4bn (£2.06bn) bid from the UK oil giant and partner PetroChina.
Read moreGulfsands expands in Tunisia and Italy
22nd Mar 2010 07:56
Gulfsands Petroleum has agreed to acquire working interest positions in two exploration permits in Tunisia (Chorbane and Kerkouane Permits) and one exploration permit in Southern Italy from AuDAX Resources. The group, which rejected a bid approach from an unnamed consortium on Friday, says the fo
Read moreLondon close: Footsie comes off highs
19th Mar 2010 16:37
Footsie reached levels not seen since 2008 in afternoon dealings, but the gains dwindled after a poor start in the US and the leading share index finished just a few points in the blue. Banks led the way after an upbeat trading update from Lloyds Banking Group. Lloyds will be profitable on a combin
Read moreLondon afternoon: Footsie at 21 month high
19th Mar 2010 14:08
Footsie marked time over the lunch time session after hitting levels in the morning session not seen since June 2008. Banks continue to lead the way after an upbeat trading update from Lloyds Banking Group. Lloyds will be profitable on a combined businesses basis in 2010, chief executive Eric Danie
Read moreLondon midday: Defensives left behind
19th Mar 2010 12:10
Risers outnumber fallers by around four to one among FTSE 100 constituents as the market continues to enjoy a sentiment boost from an impromptu and upbeat trading update from Lloyds Banking Group. Lloyds will be profitable on a combined businesses basis in 2010, chief executive Eric Daniels claimed
Read moreLondon open: Lloyds fires Footsie higher
19th Mar 2010 08:45
London's top stocks have started strongly after the Dow posted its eighth day of gains and Lloyds Banking predicted a profit this year. Part-nationalised lender Lloyds will be profitable on a combined businesses basis in 2010, chief executive Eric Daniels claimed Friday. In a short statement ahead
Read moreGulfsands rejects bid approach
19th Mar 2010 07:46
Syria-focused oil explorer Gulfsands has rejected a bid approach from an unnamed group saying it is highly conditional and subject to due diligence and other material pre-conditions. "The board is unanimously of the view that the proposal is wholly inadequate and materially undervalues the company,
Read moreGulfsands receives bid approach
18th Mar 2010 15:28
Gulfsands Petroleum says that it has received a preliminary approach from a potential bidder. This news added 18% to the share price taking it to 307p, which values Gulfsands at £317.6m. The company's main assets are in Syria. Average daily gross oil output at the Khurbet East field remains on o
Read moreWednesday tips round-up: Severn Trent, De La Rue, Gulfsands
27th Jan 2010 06:56
Severn Trent's chief executive, Tony Wray, has now confirmed the water utility has no plans for a rights issue, although it is cutting the dividend by 10%. The Independent generally is bearish about the water sector, but Severn Trent, which trades at about 1.5 times next year's earnings and yield mo
Read moreGulfsands cheered by Syrian oil results
21st Jan 2010 13:34
Gulfsands Petroleum said preliminary interpretation of drilling data and wireline logs from its drilling of the Khurbet East-14 (KHE-14) delineation well identified a gross oil column at the top of the Massive Formation of 14 metres, with a net oil pay of 6 metres and average porosity within the pa
Read moreSmall cap round-up: Gulfsands, Dragon Oil, Kewill...
22nd Oct 2009 10:33
Gulfsands Petroleum will proceed with the commercial development of the Yousefieh field after a successful appraisal well. "We continue to be very pleased with the excellent production performance of the Khurbet East field and on reaching another important milestone of 5 m barrels gross productio
Read moreGulfsands moves into profit as oil output soars
22nd Sep 2009 13:38
Soaring production levels helped Gulfsands Petroleum, which produces oil in the Mexican and Persian Gulfs, move into profit in the six months to June 30 despite tumbling oil prices. The firm posted a pre-tax profit of £3.9m during the period, compared with a loss of £10.3m over the same period the
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