Broker tips: Rockhopper, Michael Page, Lookers
15th Aug 2011 12:44
Matrix recommends buying shares of North Falkland Basin-based oil and gas group Rockhopper Exploration following the positive resource update on Monday. New estimates for stock tank oil initially in place for the low, mid and high cases are 608m barrels, 1,086m barrels and 1,279m barrels, respectiv
Read moreBroker snap: Matrix hails potential at Rockhopper
15th Aug 2011 12:34
Matrix recommends buying shares of North Falkland Basin-based oil and gas group Rockhopper Exploration following the positive resource update on Monday. Rockhopper said new seismic data suggested that more oil could be found in its Sea Lion Main Complex. "The company believes that up to approximate
Read moreLondon midday: FTSE 100 stable after calm start
15th Aug 2011 12:21
Shares are holding onto their gains today amid much calmer trading than the volatility seen last week. In company news, international recruitment firm Michael Page is sharply lower. It made a flying start to 2011 but said profit growth in the banking sector has tailed off in the second half of the
Read moreDesire shares piggy back on Rockhopper
15th Aug 2011 12:01
Shares in Desire Petroleum jumped 13% on the news that there may be more oil than expected in one of its licences off the Falkland Islands. Fellow North Falkland Basin oil and gas group, Rockhopper Exploration, said new seismic data suggested that more oil could be found in its Sea Lion Main Comple
Read moreRockhopper ups estimates at Sea Lion
15th Aug 2011 10:44
Rockhopper Exploration, the North Falkland Basin-based oil and gas firm, saw shares climb 8% on Monday after new seismic data suggested that more oil could be found in its Sea Lion Main Complex (SLMC). The firm has raised its 'low case' estimate for stock tank oil initially in place (STOIIP) from 5
Read moreRockhopper flies after Falklands drilling success
9th Aug 2011 11:03
Shares in Rockhopper Exploration gushed higher after the Falkland Islands oil explorer reported results at the "upper end of expectations" from drilling of its third appraisal well at the Sea Lion feature in the North Falkland Basin. Rockhopper said drilling at the well "confirms significant reserv
Read moreRockhopper drilling again near Falkland Islands
18th Jul 2011 10:50
Rockhopper Exploration, the firm hunting for oil off the coast of the Falkland Islands, has drilled a third "appraisal well" on the so-called Sea Lion feature on the south Atlantic sea bed. Rockhopper has attracted significant attention in the past year after claiming it had discovered "commerciall
Read moreBroker tips: Premier Foods, Glencore, Rockhopper
1st Jul 2011 13:02
After yesterday's profits warning, Panmure Gordon has slashed its full-year profit estimate for the current year and lowered its target price on Hovis bread and Branston pickle maker Premier Foods. Panmure Gordon notes that the company regards the causes of its £35-40m downgrade in profits guidance
Read moreBroker snap: Cash aplenty at Rockhopper
1st Jul 2011 12:46
Falklands oil explorer Rockhopper Exploration has brought out its profit and loss figures but Matrix says the numbers are largely irrelevant, with the cash balance the most vital thing on which to focus. "We think our estimate for cash at end June of $230m looks about right (there was $271m as of 3
Read moreFalklands oil no longer a dream, says Rockhopper
1st Jul 2011 07:49
Rockhopper Exploration, the AIM listed oil firm, has reasserted its belief it has found a minimum of 155m "recoverable" barrels of oil in the seas off the Falkland Islands. The statement accompanies its final results for 2010/11 which also show significantly increased funding with two new stakes in
Read moreRockhopper discovery could make Argentina hoppin' mad
27th Jun 2011 08:45
Rockhopper Oil, the AIM listed exploration company says it has found "commercially viable" levels of oil off the north coast of the Falkland Islands. The announcement follows a test carried out by the Ocean Guardian drilling rig which lasted for 48 hours and achieved a "flow rate" of 5508 "stock t
Read moreLondon close: FTSE 100 slumps after US jobs shock
1st Jun 2011 16:38
After a directionless start, the top share index fell deep into the red ahead of the close, with some unfavourable US economic data denting sentiment. Rio Tinto held out to finish with gains. The mining giant announced today that it is to establish a large-scale presence in commodity hungry China
Read moreSea Lion success for Rockhopper
1st Jun 2011 14:52
Shares in Rockhopper Exploration jumped higher on Wednesday after an appraisal well at its Sea Lion development shows a "significant reservoir package and hydrocarbon column". The 14/10-5 appraisal well encountered 94m net pay in high quality reservoir. "Wireline logging indicates that reservoir q
Read moreLondon close: S&P scares off investors
18th Apr 2011 17:02
Having started the day with hopes of rising back above 6,000, the top share index hurtled in the opposite direction to fall below 5,900 after debt ratings firm Standard & Poor's (S&P) put the cat among the pigeons by downgrading the outlook for US sovereign debt. Though S&P affirmed the USA´s 'AAA'
Read moreDesire slumps after abandoning well
18th Apr 2011 13:09
Falklands oil explorer Desire Petroleum crashed to a 52-week low after plugging and abandoning the 14/15-3 well on the Ninky prospect in the North Falkland basin. Oil shows were encountered while drilling but not enough to justify continued drilling. Analysis of the drilling results suggests that t
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