London close: German party poopers bash shares
17th Oct 2011 16:44
It was an another topsy-turvy dominated by changing perceptions of the Eurozone situation, with shares finishing firmly in the red after Steffen Seibert, spokesman for German Chancellor Angela Merkel, suggested that markets were getting carried away with the optimism. Referring to the hopes being
Read moreSector movers: Oil gushes higher, no support for support services
17th Oct 2011 16:20
Company updates from the oil sector have been well-received today. Integrated oil giant BP and US counterpart Anadarko have reached a settlement over the Deepwater Horizon rig explosion at the Macondo asset in the Gulf of Mexico. Anadarko will pay BP $4bn in a single cash payment, which will go i
Read moreIrish oil licence boost for Petrel
17th Oct 2011 15:15
Irish oil exploration group Petrel was soaring after it announced that it has been awarded two licensing options to explore in the prospective Porcupine Basin off the coast of the emerald isle. "We have already started initial work and look forward to executing this exciting project," managing dire
Read morePetrel Resources Faces Future With Confidence, To Stay In Iraq
26th Jul 2010 13:32
LONDON (Dow Jones)--Petrel Resources PLC (PET.LN), an Irish and London listed oil exploration company, said Monday it has overcome serious difficulties in recent years and faces the future with renewed confidence, adding that it intends to remain in Iraq. MAIN FACTS: -Petrel has $7 million i
Read morePetrel back in the saddle in Iraq
25th Jun 2010 14:14
John Teeling, chairman of Iraq-focused oil exploration company Petrel Resources, claimed the company is better placed to progress than it has been for some years, despite reporting sharply increased losses last year. The company made a loss before tax of €6.53m on zero revenues in 2009 after losing
Read morePetrel Resources FY Pretax Loss EUR6.53 Vs Loss EUR0.76M
25th Jun 2010 07:52
LONDON (Dow Jones)--Petrel Resources PLC (PET.LN), an oil exploration company, Friday reported a full year pretax loss of EUR6.53 million, compared with a loss of EUR761,637 a year earlier MAIN FACTS: -Loss per share for the year ended Dec. 31 8.73 cents (2008: 1.05 cents) -Petrel-Makman
Read moreLondon close: Footsie keeps lead
26th Apr 2010 16:34
Stocks built on Friday's gains as investors piled into miners and high street banks, although the leading index finished toward the bottom of the session's range. An increase in metal prices proved attractive, with Chile-focused copper giant Antofagasta the pick of the bunch. Kazakhmys was also wa
Read moreLondon afternoon: RBS shakes off 'sell' note
26th Apr 2010 14:11
The Footsie moved sideways over the lunch time session, with the blue chip index remaining buoyed by the strength of miners and banks. Kazakhmys is wanted after it sold a 49% stake in its copper project Aktogay to Chinese company Jinchuan Group for $120m. Kazakhmys said the estimated development c
Read moreSmall caps round-up: Petrel, Titanium Resources, RCG ...
26th Apr 2010 10:11
Petrel Resources rocketed higher Monday after announcing work is to restart in Iraq after settling all outstanding issues on the Subba and Luhais oilfield development in the south of the country. The AIM-listed oil and gas explorer no longer has any liability or exposure to any possible project lo
Read moreSector movers: Mining stocks bounce back
7th Jul 2009 12:26
Mining stocks are going well as they recover from some hefty losses yesterday. Platinum miner Lonmin, one of the FTSE 100's worst performers yesterday, is near the top today. Sticking with precious commodities, Petra Diamonds moves higher after saying output increased five fold to over 1m carats t
Read morePetrel bemoans Baghdad bad debt
17th Jun 2009 08:51
The share price of Petrel Resources took a dive Wednesday morning after the Iraq-focused oil company said it has been waiting 16 months to be paid the $54m it is owed for work done on the Subba and Luhais contract. Despite offering to take payment in oil rather than cash, negotiations for settlemen
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