Cairn does Greenland deal, may face competition on Rockhopper
23rd Jan 2012 07:04
Edinburgh-based explorer Cairn Energy is to partner with Statoil ASA to help exploit the Pitu block in the Baffin Bay Basin, west of Greenland. However, the firm offered no clue as to whether a tie-up with Rockhopper was on the cards in its trading update. Recent reports claim Cairn has held talk
Read moreLondon close: Muted reaction to S&P as Footsie rises 0.4%
16th Jan 2012 16:29
The market reaction to S&P's mass downgrade of nine Eurozone nations was fairly muted on Monday, with the Footsie finishing at its highest levels of the day, as many argue that the downgrades of France and Austria (both rated AAA previously) were already priced in. Meanwhile, the results of the late
Read moreLondon midday: Footsie flat as markets digest S&P move
16th Jan 2012 11:54
After a stint in the blue, and the red, the Footsie was trading flat by midday on Monday, as the markets digested the S&P move to downgrade nine Eurozone countries on Friday evening. Eyes are on France as the nation looks to issued €8.7bn in government debt today. Standard & Poor's (S&P) "finally"
Read moreRockhopper up on Cairn takeover rumours -UPDATE
16th Jan 2012 11:01
Rockhopper Exploration, the Falkland Islands focused oil and gas company, has risen this morning on rumours of a possible takeover by Cairn Energy. The Sunday Times reported yesterday that cash rich Cairn, which made billions by developing fields in India, is interested in taking over Rockhopper's
Read moreBroker tips: Carnival, Meggitt, Rockhopper
16th Jan 2012 10:36
Credit Suisse has reassessed its view on cruise ship operator Carnival following the news that one of its luxury liners grounded off the coast of Italy at the weekend. The broker maintained its neutral rating on the stock but said that incident will be a "black mark on the cruise industry" as well
Read moreBroker snap: Buy Rockhopper on Cairn takeover rumours
16th Jan 2012 09:48
Merchant Securities remains a buyer of oil and gas firm Rockhopper Exploration following speculation that sector peer Cairn Energy could launch a takeover bid. The Sunday Times reported that Rockhopper is looking for a partner to share development costs for its Falkland Island assets, with reports
Read moreMonday broker round-up - UPDATE
16th Jan 2012 08:48
Capita: Bank of America-Merrill Lynch downgrades to neutral from buy. Carnival: Credit Suisse keeps neutral rating and 2,285p target; Morgan Stanley downgrades to neutral from outperform, target cut from 2,700p to 1,800p. Amec: Goldman Sachs upgrades to buy from neutral. Morrisons: Deutsche Bank
Read moreSunday newspaper round-up: Aon, Volcker, BoE, Rockhopper
15th Jan 2012 17:03
Aon is to become the first US S&P 500 company to become domiciled in the UK after the insurance broker unveiled plans to shift its headquarters from Chicago to London. The move by Aon, which employs 59,000 people globally and has a market capitalization of $15bn gives a boost to London´s status as a
Read moreFalkland Oil slides after discounted placing
13th Jan 2012 10:04
Falkland Oil and Gas (FOGL), one of the firms hoping to discover substantial oil resources around the Falkland Islands, saw its share price sink after placing shares at a steep discount. The company has raised £48.5m through the placing of 112.8m shares at 43p per share, more than 7p below the mid-
Read moreBroker tips: Rockhopper, Vodafone, Jupiter Fund Management
6th Jan 2012 11:17
Analysts at Credit Suisse have this morning initiated coverage on Falklands focused oil exploration group Rockhopper at 'outperform'. Their valuation model for the company gives a 'risked' net asset value for the firm´s shares, under a successful 'farm out' agreement for its Sea Lion oil field, of
Read moreBroker snap: Credit Suisse initiates Rockhopper at outperform
6th Jan 2012 10:21
Analysts at Credit Suisse have this morning initiated coverage on Falklands focused oil exploration group Rockhopper Exploration at 'outperform'. Their valuation model for the company gives a 'risked' net asset value for the firm´s shares, under a successful 'farm out' agreement for its Sea Lion oi
Read moreTuesday broker round-up - UPDATE
13th Dec 2011 09:54
Amec: Citi upgrades to buy from sell. Royal Dutch Shell: Citi downgrades to neutral from buy. Petrofac: Investec reiterates buy, 1,705p target under review. Petrofac: Evolution Securities reiterates add and 1,700p target. Whitbread: Evolution Securities keeps buy rating and 1,800p target. Whitb
Read moreBrokers rush to reappraise Rockhopper and Desire
13th Dec 2011 09:42
Rockhopper Exploration, the company which found oil off the north coast of the Falkland Islands, has seen its shares soar 9.3% this morning following the announcement of a successful well dig. Results from the "14/15-4" well suggest that the amount of oil and gas under the cold South Atlantic seas
Read moreRockhopper sees great results at Sea Lion field
8th Dec 2011 08:00
Rockhopper Oil, the Falkland Islands focused exploration company, has said it is just one well away from completing its "very successful" appraisal of the Sea Lion field. At the end of the six months ended 30 September, the firm had $131m in financial resources available, which has since increase
Read moreAssessing Rockhopper's Falklands campaign
2nd Dec 2011 13:02
Rockhopper Exploration is, perhaps, the most intriguing stock on the AIM exchange. Taken in isolation this oil exploration company, with a market capitalisation of £745m, is interesting in its own right. Rockhopper cannot, however, be taken in isolation because its interests in the seas off the Fal
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