Desire draws blank at Dawn
4th Jan 2011 07:16
Drilling at Desire Petroleum's 25/5-1 well on the Dawn/Jacinta prospect in the North Falkland Basin has reached target depth but failed to find any oil. "Based on preliminary drilling and wireline logging data there are no significant hydrocarbons in the Dawn prospect and the well will be plugged a
Read moreDesire begins new well in Falklands
20th Dec 2010 09:29
Falkland Islands oil explorer Desire Petroleum has started drilling the Dawn/Jacinta 25/5-1 well in the North Falkland Basin. The company, whose shares have been up and down like a yo-yo recently on speculation and subsequent failure, spudded the new well in the 100%-owned Tranche I on Saturday. T
Read moreLondon close: Footsie advances as takeover activity excites
6th Dec 2010 16:56
Shares closed with decent gains as bid activity and higher oil prices whetted investor appetites. There has been no shortage of takeover news to keep traders occupied on an otherwise fairly quiet day. FTSE 250-listed De La Rue was the star performer. The banknote printer enjoyed a second wind Mond
Read moreLondon afternoon: Oil stocks give a lift
6th Dec 2010 14:24
Leading shares are mixed but the Footsie is clinging on to positive territory, largely on the strength of oil stocks, which advance as the price of crude oil moves to levels not seen in more than two years. There has been no shortage of takeover news to keep traders occupied on an otherwise fairly
Read moreBroker tips: De La Rue, BATs, Desire
6th Dec 2010 13:09
There is nothing like a bid approach to make a broker reassess the value of a stock and bank note printer De La Rue is no exception to the rule. Confirmation that the crisis-torn company has received a bid approach, believed to be from French rival Oberthur, has prompted Panmure Gordon to whack up
Read moreBroker snap: Desire fall is overdone
6th Dec 2010 12:27
The plugging of the 14/15-2 Rachel North well by North Falklands oil explorer Desire Petroleum was a most unpleasant turn-up for the books and has predictably led to the share price being trashed, but Westhouse Securities thinks the fall has been overdone. On Thursday last week, Desire announced th
Read moreLondon midday: Bid action boosts shares
6th Dec 2010 12:04
Shares are broadly higher, with bid activity in the mid-cap index helping to generate excitement. De La Rue has received a bid, the FTSE 250-listed banknote printer confirmed Monday, thought to be from French rival Oberthur Technologies. Talk is the all-cash deal valued the UK company, also respons
Read moreLondon open: Bid speculation enlivens dull market
6th Dec 2010 08:47
The prospect of mergers and acquisitions activity is livening up an otherwise sedate opening session for London. De La Rue has received a bid, the banknote printer confirmed Monday, thought to be from French rival Oberthur Technologies. Talk is the all-cash deal valued the UK company, also responsi
Read moreDesire flattened by new Falklands failure
6th Dec 2010 07:35
The drilling programme of North Falklands oil explorer Desire Petroleum continues to frustrate, as the company has plugged and abandoned the 14/15-2 Rachel North well. Hopes, raised last week when the company said it had found oil at the prospect, have been dashed as subsequent sampling from the ma
Read moreBroker tips: Melrose, WH Smith, Desire
3rd Dec 2010 13:24
Shares in crisis-torn banknote printer De La Rue are down by a third over the year but up by one sixth in the last week, with the recent good run driven, in part, by rumours of a takeover. One company name in the frame to take over De La Rue is turnaround specialist Melrose, but Panmure Gordon thin
Read moreBroker snap: Desire worth accumulating
3rd Dec 2010 13:05
The share price of Falklands oil explorer Desire Petroleum has bounced around over the last two months between its 52-week high of 168.5p and a price about one pound below that, as drilling results proved patchy. Westhouse Securities advises clients to take advantage of dips to accumulate the share
Read moreDesire strikes oil in Falklands
2nd Dec 2010 07:44
Desire Petroleum has found oil in the treacherous waters off the Falkland Islands, according to preliminary data collected from Rachel North exploration well 14/15-2. The well in the North Falkland Basin reached a total depth of 3,052 metres, and drilling data and other tests indicate the well enco
Read moreRockhopper plans further exploration
16th Nov 2010 15:17
There was little in the way of surprises in Rockhopper Exploration's interim figures because of the regular drilling updates from the Falkland Islands oil and gas explorer but they show that Rockhopper still has plenty of cash to spend. There was a $35m cash outflow, mainly related to capitalised
Read moreSmall caps round-up: Umeco, Petroneft, Kewill...
9th Nov 2010 11:13
Aerospace supplies group Umeco says it remain on track to hit full-year expectations after increasing adjusted profit before tax by 12% in the first half. Pre-tax profit rose to £11.1m in the six months to 30 September, up from £9.9m last year on revenue up to £217.2m from £198.5m. Russia-focused
Read moreDesire shrugs off Rachel failure
2nd Nov 2010 08:25
North Falkland explorer Desire Petroleum has been unable to glean any extra information from the 14/15-1Z sidetrack well on the Rachel prospect after failing to fix a broken wellbore. "Clean out of the sidetrack has not proved possible due to mechanical failure of the wellbore and it will therefore
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