Genel, San Leon and Serica Energy strike oil in Morocco
20th Oct 2014 08:03
A well off the coast of Morocco has struck oil, partners Genel Energy, San Leon Energy and Serica Energy said. The SM-1 well in the Sidi Moussa block, which is operated by Genel, has reached a total depth of 2,825 metres and preparations are now underway to begin testing at a cost of $22m. Genel ow
Read moreSan Leon expands Moroccan footprint through Petromaroc deal
8th Sep 2014 14:40
AIM-listed oil and gas group San Leon Energy has expanded its asset portfolio in Morocco through the acquisition of two minority stakes. Petromaroc Corporation has transferred its 1.5% net working interest in the offshore Sidi Moussa licence, where drilling of the SM-1 well is currently underway by
Read moreSerica Energy buys North Sea oil field stake from BP
17th Jun 2014 07:50
Oil explorer Serica Energy is buying an 18% stake in the Erskine oil field in the North Sea from BP for $11.1m plus 27m new shares. Serica is buying the interest in UK blocks 23/26a and 23/26b, both in area B, containing the Erskine Field in the UK Central North Sea, from BP Exploration Operating C
Read moreENI joins Serica Energy on UK gas block
10th Apr 2014 17:33
Global oil & gas explorer Serica Energy said Italian oil major ENI had joined it as an operator on a UK gas project as it unveiled lower losses. Serica said its partner JX Nippon had agreed a deal with ENI under which the Milan-listed group would operate block 22/19c, where large high-pressure, hig
Read moreSerica Energy announces placing and open offer
22nd Oct 2013 11:15
Serica Energy, a UK-based oil and gas company, has arranged an open offer and a placing to raise funds that will allow it to carry out its proposed work programme and expand its portfolio. The group is placing 56.87m shares at 18p a piece to raise a total of £10.2m, and intends to raise up to a fu
Read moreSerica Energy narrows half year losses
17th Sep 2013 12:00
Serica Energy's shares gained after the oil and gas company narrowed its pre-tax losses in the first half as it lowered its costs. Loss before tax came to $1.9m, down from last year's loss of $3.5m. Sales revenue fell to $3.5m from $8.4m but was offset by a reduction in cost of sales to $2.9m fro
Read moreWednesday broker round-up UPDATE
21st Aug 2013 09:37
Anglo American: JP Morgan cuts target price from 1675p to 1655p keeping a neutral rating. Aquarium Platinum: Investec shifts target price from 46p to 48p and stays with its hold recommendation. ASOS: Deutsche Bank increases target price from 3800p to 4450p, while leaving its hold recommendation un
Read moreCentrica to farm-in to two of Serica's blocks in the UK East Irish Sea
27th Jun 2013 12:10
AIM-listed oil and gas exploration and development company Serica Energy has reached agreement with Centrica through its subsidiary Hydrocarbon Resources (HRL) for the farm-out of UK East Irish Sea Blocks 113/26b and 27c in Licence P.1482, in which Serica presently holds a 65 per cent interest. Un
Read moreTuesday broker round-up UPDATE
4th Jun 2013 07:25
Afren: Goldman Sachs shifts target price from 224p to 221p keeping a buy recommendation. Alent: Goldman Sachs initiates with a target price from 426p and a buy recommendation. Amerisur Resources: Goldman Sachs moves target price from 65p to 82p and stays with its neutral rating. Bahamas Petroleum
Read moreJupiter Fund Management Chief disposes of 750,000 shares
18th Mar 2013 16:28
Edward Bonham Carter, the Group Chief Executive of Jupiter Fund Management, has traded in 2.65m pounds-worth of shares just a few weeks since the group boosted its total dividend for 2012 by 13 per cent. Bonham Carter sold 750,000 shares at 350.75p a time, making a modest dent in his stake which n
Read moreWednesday broker round-up UPDATE
6th Mar 2013 07:03
Advanced Medical Solutions: Investec takes target price from 68p to 74p and maintains a buy recommendation. Aggreko: Citigroup reduces target price from 2550p to 2100p, while keeping a buy rating. Ashtead Group: Citigroup raises target price from 590p to 660p leaving its buy recommendation unalter
Read moreThursday broker round-up UPDATE
31st Jan 2013 07:07
Aberdeen Asset Management: Bank of America ups target price from 400p to 425p maintaining a neutral rating. Afren: JP Morgan lowers target price from 210p to 195p and downgrades to neutral. Amino Technologies: Northland Capital raises target price from 85p to 90p keeping a buy recommendation. Ant
Read moreSerica Energy falls on operations update
21st Jan 2013 08:07
Shares in Serica Energy fell over nine per cent Monday following news the oil and gas company abandoned two blocks in the North Sea and was operating on 'limited cash resources'. In an operations update, the company said it has decided to relinquish blocks 210/19a and 20a in the northern North Sea
Read morePremier Oil announces failure of Spaniards East Well
6th Nov 2012 08:53
Premier Oil has disappointed its investors with the announcement that the Spaniards East Well in Block 15/21, in which it has a 28 per cent operating interest has been plugged and abandoned as a dry hole. Although the well encountered 75 feet of Jurassic sands, these were shown to be water wet on
Read moreBroker snap: Optimism fades after Chariot abandons another well
10th Sep 2012 14:21
The news that Chariot Oil and Gas's Kabeljou exploration well was plugged and abandoned as a dry hole prompted most brokers on Monday to either downgrade or put their ratings for the stock under review and significantly reduce their target prices. The Africa-focused oil and gas firm said that the w
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