Ithaca bombs after takeover bids fail
29th May 2012 10:50
North Sea explorer Ithaca Energy said it had ceased discussions with all parties regarding a takeover of the company. In March the company's share price surged after it said multiple parties were interested in buying it. However, Ithaca has decided that the potential offers on the table were not h
Read moreIthaca starts oil production at Athena field
28th May 2012 07:57
Ithaca Energy, the AIM-listed oil and gas group focused on the UK Continental Shelf (UKCS), has reported the successful start-up of oil production from the Athena field which is proceeding as planned. In a brief statement, the company said that the initial operations phase of the field is in line w
Read moreResource round-up: Oilex, Gold Oil, Rialto Energy
8th May 2012 10:32
Oilex has decided to suspend operations at its Cambay-76H horizontal well onshore Gujarat, India, after suffering repeated mechanical problems. Oilex had been conducting operations to recover and replace a damaged drill pipe and to recover milling assemblies from the well. During these operations th
Read moreIthaca Energy continues negotiations on takeover
29th Mar 2012 15:25
North Sea oil and gas player, Ithaca Energy, increased its estimated reserves and boosted cashflow during 2011 and says it is still in negotiations over a possible takeover. In 2011 the company saw cashflow from operations at $103.5m, against a prior year figure of $88.9m. Profit before tax came i
Read moreResource stocks round-up: Stellar, Bowleven, Ithaca ...
26th Mar 2012 10:26
West Africa-focused Stellar Diamonds said it had discovered a significant maiden diamond resource at its Tongo Kimberlite Dyke Project in Sierra Leone. The firm said the high diamond grades and values exhibited at its Dyke-1 mine made it one of the highest value kimberlites in terms of dollars per t
Read moreIthaca surges as more parties show interest
1st Mar 2012 11:02
Shares in AIM-listed oil firm Ithaca Energy jumped higher after the firm said that it has attracted more interest, following a non-binding proposal received on two months ago. Ithaca said today that it has since the initial proposal made on January 23rd, it has received unsolicited interest from a
Read moreLondon midday: Stocks extend gains, RBS and IAG on the rise
23rd Jan 2012 11:46
- Markets await news from Greece. - Lagarde warns of "1930s moment"; - RBS rises on rumours of CEO waiving bonus. London's benchmark index had extended gains by midday with the market showing their optimism as investors awaited news from Greece. US stock futures were also pointing to a positive sta
Read moreLondon open: Footsie rises with Greece in focus
23rd Jan 2012 08:36
UK stocks rose on Monday with hopes that Greece can reach a deal with its bondholders boosting sentiment early on. The Institute of International Finance (IIF) seems to have hardened its stance in its negotiations with Greece. Charles Dallara, theManaging Director of the IIF, the body which is neg
Read moreIthaca Energy in play
23rd Jan 2012 07:01
Ithaca Energy, the Canadian oil and gas firm, has received a bid approach and discussions are taking place which may or may not lead to an offer being made for the issued share capital of the company. The company holds a number of assets in the UK-owned part of the North Sea, including the Athena
Read moreIthaca & Lochard fall on news of delay
9th Dec 2011 12:57
Both Ithaca and Lochard, AIM-listed oil firms, fell on news that one of its Athena project has had to be slightly delayed. The project, a floating production, storage and offloading (FPSO) vessel, which is the responsibility of BW Offshore, has proven to be more extensive than was originally envis
Read moreIthaca ups reserves estimate
26th Apr 2011 08:21
Ithaca Energy, the Canadian oil and gas firm focused on the North Sea, said Challenger Minerals (CMI) is to pay a share of the costs of the initial well on the Hurricane discovery, as part of an earn-in agreement. The Hurricane discovery is in block 29/10b within the Ithaca operated Greater Stella
Read moreIthaca sticks with full year production target despite delays
7th Apr 2011 17:07
North Sea oil and gas explorer Ithaca Energy said combined sales for the first quarter of 2011 totalled 314,340 barrels of oil equivalent (boe), net to Ithaca. Average net sales were 3,493 boe per day, some 20% below the net average daily target for first quarter due, as the company has previously
Read moreSmall caps: CNC, Ithaca, Paragon Diamonds...
25th Mar 2011 17:51
Precision engineering specialist CNC Technology saw profits fell 17% last year to £2.32m, but the second half was much stronger. Sales fell 2% to £12.6m. "Trading conditions in the defence sector remain strong and we continue driving some of our products into military equipment aimed at countering
Read moreNorth Sea production boost for Ithaca
29th Dec 2010 11:45
Oil and gas explorer and producer Ithaca Energy Inc says that its UK subsidiary has more than doubled production from its second workover well on Beatrice Alpha. The stable production from the workover well has increased 115% to approximately 560 barrels of oil per day (bopd) gross. That exceeds m
Read moreBrooks seven pocket £2.2m
24th Sep 2010 17:02
All seven executive directors of wealth management firm Brooks Macdonald have taken advantage of the share price more than doubling over the past year to reduce their shareholdings. They all sold shares at 895.5p each and raised £2.21m in total. The shares are 133% higher than one year ago. Inv
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