Resource round-up: Namakwa, Oilex, Kea, Sierra Rutile
10th Apr 2012 10:52
Namakwa Diamonds saw its share price plunge almost 10% on Tuesday morning after it announced further operational problems would hit production targets in Lesotho. This meant its short term funding arrangements would be insufficient, the company said, forcing it to take out US$10m unsecured bridging
Read moreResources round-up: Red Emperor, Wolf Minerals, Oilex...
5th Mar 2012 14:59
Oilex surged on Monday after reporting that operations at the Cambay-76H horizontal well, onshore Gujarat, India, to retrieve the stuck milling assembly and coiled tubing have been successfully concluded with the entire assembly now having been recovered at surface. The well is currently being prepa
Read moreSmall caps round-up: Caza, Tower Resources, Noventa...
2nd Feb 2012 12:17
Mining firm Noventa says that operations have suffered from a "plague" of beetles as a result of tropical storms which have hit the firm's Marropino site in Mozambique over the past 10 days. The Rove Beetle is very poisonous and around 30% of the workforce at Marropino have been affected by the seve
Read moreOilex restarts operations in western India
6th Dec 2011 08:17
Oilex, the oil exploration company with significant interests in India, says it has restarted operations at its Cambay field in the western state of Gujarat. Operations had been suspended since the end of August, when a milling assembly became stuck in the wellbore. Since the restart pressure at t
Read moreOilex rises on encouraging assessment
11th Oct 2011 08:09
India-focused oil and gas explorer Oilex has been encouraged by the test results from an independent assessment of six potential eocene reservoirs in its Cambay production sharing contract. The evaluation showed that there is the potential for recovery of both crude oil and associated gas, as well
Read moreOilex preparing well for production testing
17th Aug 2011 16:02
Oilex has announced that its Cambay-76H reservoir well is being prepared for well clean-up flow and production testing. The pivotal proof-of-concept well, in Gujarat, India, is currently being flowed to surface to remove stimulation fluids from the eighth fracture stimulation stage and hydrocarbons
Read moreBroker tips: UBM, Shire, Oilex
29th Jun 2011 12:47
UBS upgraded business events organiser and publisher UBM from neutral to buy, saying that the group's near-30% underperformance versus the sector over the year to date has been overdone. "We have previously been relatively cautious on UBM given concerns that EM exhibition launches may weigh on marg
Read moreBroker snap: Ambrian maintains buy on Oilex
29th Jun 2011 12:46
Ambrian reiterated its buy recommendation and target price of 40p on oil and gas explorer Oilex following the firm's operational update at the Cambay-76H tight reservoir well in India. The well was drilled to the horizontal landing point at 2,106m and the horizontal section drilled to 2,596m. "Thi
Read moreOilex closer to unlocking potential of gas assets in India
29th Jun 2011 09:56
Oilex said it has moved closer to "unlocking the potential" of the Cambay-76H tight reservoir well in India, which sent shares of the oil and gas explorer up 9% on Wednesday. Oilex said the Cambay-76H horizontal well was directionally drilled as planned to a depth of 2,596 metres and added the Y z
Read moreThursday tips round-up: Compass, Oilex, Experian...
19th May 2011 06:40
There is little to complain about in Compass's first-half figures, which indicate that the world's biggest caterer is moving forward on all fronts. But it is fast approaching a point where it has to take some strategic decisions over the balance sheet. Britain and continental Europe are looking deci
Read moreOilex spuds Australian well
3rd May 2011 16:02
Oil and gas explorer Oilex said drilling has started on its La Rocca-1 well off the coast of western Australia after the arrival of the "Ocean Patriot" rig. The well was spudded at 3:20am (western standard time) on 30 April, 2011. The La Rocca-1 well is the first exploration well in the WA-388-P p
Read moreLondon close: Footsie rallies to narrow losses
12th Nov 2010 16:47
Footsie recovered from an early slump to close just a few points lower as well-received company updates nearly cancelled out losses in the mining sector. Miners were big fallers on disappointment with the outcome at the G20 meeting and the possibility of a currency free-for-all. Talk that China is
Read moreLondon afternoon: Imagination hit by Samsung rumour
12th Nov 2010 14:27
Considering mining shares are in the dumper Footsie, though lower on the day, is faring reasonably well, after a lunch time session that saw share prices move sideways. Miners are big fallers on disappointment with the outcome at the G20 meeting and the possibility of a currency free-for-all. Talk
Read morePress comment boosts Oilex shares
12th Nov 2010 12:33
India-focused oil and gas explorer Oilex believes that yesterday's rise in its share price is based on Indian press comment and says that there is no new information. The share price rose by one-fifth to 17p yesterday but it has fallen back 0.5p today. Oilex is focused on oil exploration and prod
Read moreLondon close: Footsie tops up gains
6th Sep 2010 16:50
Footsie consolidated last week's strong performance with another day of gains, though trading was subdued with the US closed. Telecoms group Cable & Wireless Worldwide was the best performer on a weekend report Singapore Telecom is eyeing up the telephony group. Bid speculation also buoyed Home R
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