Tuesday tips round-up: Ithaca Energy, Amlin
5th Mar 2013 07:29
Oil explorer Ithaca Energy was off a touch on Monday, after having taken a hit on Friday, when it announced the purchase of Valiant Petroleum. While some nerves may be understandable the oil team at Westhouse Securities points out that the fact the deal could pay for itself in two years may have bee
Read moreTuesday broker round-up UPDATE
5th Mar 2013 07:15
Abcam: Investec raises target price from 466p to 484p and keeps a buy recommendation. Numis revises target price from 470p to 530p and maintains its buy ratng. Access Intelligence: Merchant Securities initiates with a target price of 7p and a buy recommendation. Amlin: Canaccord Genuity raises tar
Read moreIthaca Energy acquires Valiant Petroleum
1st Mar 2013 11:32
Valiant Petroleum's shared soared by nearly 30 per cent Friday after Ithaca Energy announced it would acquire the company for 203m pounds. The acquisition will more than double Ithaca's 2013 production forecast to 14,000 to 16,000 barrels of oil equivalent per day. However Ithaca's shares fell 10%
Read moreIthaca Energy increases stake in Cook field
5th Feb 2013 10:53
AIM-listed oil and gas exploration company Ithaca Energy has completed the acquisition of a wholly-owned UK subsidiary company of Noble Energy Capital Limited. The acquired subsidiary owns a 12.885% non-operated interest in the Cook field, an oil-rich prospect located in the Central North Sea, app
Read moreFriday broker round-up UPDATE
11th Jan 2013 07:01
Aberdeen Asset Management: Credit Suisse raises target price from 380p to 410p reiterating an outperform rating. Afren: Deutsche Bank cuts target price from 175p to 165p stayling with its buy rating. Ashmore Group: Credit Suisse moves target price from 380p to 375p and downgrades to underperform.
Read moreIthaca Energy posts Q4 production up 31 per cent on previous quarter
10th Jan 2013 13:37
North Sea focused oil and gas company Ithaca Energy reported Thursday that its fourth quarter production results came within expectations, up 31 per cent on the previous quarter. Net average export production - including net production from the Cook and MacCulloch field interests being acquired fro
Read moreDunelm Finance Director trades in shares from LTIP
18th Oct 2012 16:07
Dunelm Group's Finance Director, David Stead, has traded in 43,460 of the 85,215 shares he received after exercising options under the company's long-term incentive plan at no cost. Stead, who joined the homeware chain in 2003, traded in the shares at 679.40p, earning £295,267, which he used to fu
Read moreIthaca hit by delays to planned maintenance shutdowns
10th Oct 2012 11:28
North Sea focused oil and gas company Ithaca Energy has reported third quarter production at 5,061 barrels of oil equivalent per day (boepd), an increase of 28 per cent on the previous quarter. The three month period was boosted by the first full quarter's contribution from the Athena field and st
Read moreIthaca to start drill stem test on Hurricane well
14th Aug 2012 09:56
North Sea focused oil and gas company Ithaca Energy is now beginning a drill stem test at the Hurricane appraisal well, 29/10b-8, which lies within the firm's Greater Stella Area, after tests indicated that the well has encountered hydrocarbons in both the Rogaland and Andrew sands. The test will
Read moreIthaca buoyed by strong second quarter
13th Aug 2012 10:34
Ithaca Energy, the North Sea focused oil and gas company, reported a big jump in profits in the first half of the year on increased oil sales. The firm said pre-tax profits came in at $35.5m, up from $10m in the first half of 2011. Revenue increased by $28.5m over the period to $76.3m, resulting i
Read moreIthaca appoints contractor for Greater Stalla
30th Jul 2012 09:52
Ithaca Energy, the North Sea focused oil and gas company, has looked across the Channel for an engineer to build the sub-sea structures at its Greater Stella Area gas project. The French engineering giant, Technip, has won the $230m contract, of which Ithaca must pay $126m as the majority owner of
Read moreIthaca goes into Hurricane
9th Jul 2012 08:35
Shares in Ithaca Energy rose on Monday morning after the firm said it had started drilling its Hurricane appraisal well in the North Sea. The well programme in the in Block 29/10b of the company's Greater Stella Area is expected to take between 75 to 85 days to complete. The drilling mission has t
Read moreIthaca wins court case
4th Jul 2012 09:02
Ithaca Energy said it had won its court battle over who should pay costs of drilling at its Jacky J03 well in the North Sea. The Commercial Court of the High Court backed Ithaca's position in concluding that the well was drilled as a "Joint Operation" with North Sea Energy (NSE). This means NSE i
Read moreIthaca blockage hits shares
25th Jun 2012 09:08
North Sea explorer Ithaca Energy fell in early trading on Monday after the firm said one of its wells was blocked and not producing oil. Shares dropped almost 9% after the company said only three of its four production wells on the Athena field were flowing due to a suspected downhole restriction i
Read moreResources round-up: Goldstone, Caza, Anglo Asian Mining...
7th Jun 2012 11:59
Exploration company Goldstone has confirmed the wide depth extension of its gold resource at Homase/Akrokerri in West and Central Africa after 46 holes were drilled, totalling 13,200 metres. Included in these, one hole intersected gold mineralisation of 15.7m at 1.4 g/t including 4.5m at 3.3 g/t, wh
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