Tullow Oil French Guiana Zaedyus-2 well comes up dry
4th Dec 2012 11:05
Commercial hydrocarbons have not been found at the Zaedyus-2 appraisal well in offshore French Guiana after Tullow Oil completed drilling but the group is confident the French Guiana block remains "highly prospective". The Zaedyus-2 well, which was drilled 5km up-dip from the Zaedyus 1 well, encoun
Read moreLondon midday: Markets rise after manufacturing data
3rd Dec 2012 11:35
- Chinese and Indian PMIs improve - UK manufacturing PMI beats forecasts - Miners provide a lift in London The Footsie had held on to gains by Monday lunchtime after some decent manufacturing figures from China and India, though the mood was cautious on the back of uncertainties surrounding the US
Read moreLondon open: Stocks rise after Chinese manufacturing figures
3rd Dec 2012 08:18
UK stocks opened in positive territory on Monday morning following some upbeat economic data from China and India, but gains were only moderate with the focus likely to be on Greece as Eurozone finance ministers meet in Brussels. The final reading for the HSBC China purchasing managers' index (PMI)
Read moreMonday broker round-up UPDATE
3rd Dec 2012 07:16
ARM Holdings: Exane BNP Paribas upgrades from neutral to buy. Ashtead Group: Bank of America starts with a target price of 460p and a buy recommendation. AstraZaneca: Berenberg raises target price from 3080p to 3100p; hold recommendation kept. Balfour Beatty: Investec reduces target price from 21
Read moreTullow strikes oil again in Kenya -UPDATE
26th Nov 2012 07:15
FTSE 100 explorer Tullow Oil said it had made a second discovery in the Lokichar Basin area of Kenya. The firm said the Twiga South-1 exploration well, in which it holds a 50% stake, had encountered 30 metres of net oil pay with further potential to be assessed on testing. It also encountered a ti
Read moreTullow signs farm-in deal in Guinea
20th Nov 2012 13:46
Tullow Oil, the Irish oil titan, has agreed a farm-in with Hyperdynamics Corp for the sale of its 40 per cent interest in Hyperdynamics' oil and gas exploration concession offshore Guinea and the transfer of operatorship to Tullow. Under the agreement, Hyperdynamics Corp's wholly-owned subsidiary,
Read moreLondon close: Footsie drops over one per cent after Rehn comments
14th Nov 2012 16:32
- Olli Rehn says Spain has taken 'effective action' - UK data mixed; BoE cuts growth forecast - Mining and oil stocks sold off The Footsie lost nearly one per cent on Wednesday as risk appetite waned after comments from Olli Rehn on Spain and concerns about the global economy brought out the bears.
Read moreLondon midday: Risk appetite drops as Eurozone crisis drags on
14th Nov 2012 11:35
- Eurozone in focus as general strikes hit periphery - BoE's King gives gloomy outlook for Q4 UK GDP - Resources firms provide a drag; AMEC jumps With general strikes taking place in Spain, Portugal, Greece and Italy today, concerns about the ongoing Eurozone crisis have reignited this morning, pus
Read moreLondon open: Stocks fall on global economic concerns
14th Nov 2012 08:24
- Stocks track US markets lower on fiscal cliff concerns - Spain said to be nearing bailout request - Banks fall after broker downgrades Concerns about the global economy took centre stage again on Wednesday morning, causing the Footsie to sink early on as general strikes take place in Spain, Portu
Read moreLondon pre-open: FTSE set to track US stocks lower
14th Nov 2012 07:25
City sources predict the FTSE 100 will open down 26 points from yesterday's close of 5,786, tracking losses seen in the US overnight. After a strong start on the back of strong earnings from Home Depot, US stock markets yesterday sunk into the red by the close as concerns about the dreaded 'fiscal
Read moreTullow hitting its stride
14th Nov 2012 07:01
All of the financials are in line with expectations this year at Tullow, while the oil group remains on target to deliver average net production of 80,000 to 84,000 barrels of oil equivalent per day (boepd) for the full year. The group's interim management statement covering the second half of the
Read moreTullow refinances
7th Nov 2012 14:46
Tullow Oil, the company which has a heavy exploration programme ahead of it in Ghana, has completed a massive debt refinancing. The group has refinanced $3.5bn of Reserves Based Lend (RBL) credit facilities, replacing a previous facility which was due to expire in 2015. The $3.5bn of credit facil
Read moreLondon close: Footsie struggles to hold on to gains after jobs data
2nd Nov 2012 16:42
- US jobs provide temporary boost, but gains trimmed - Data unlikely to change Fed's stance, says analyst - Financials Admiral and RBS disappoint While the closely-watched US jobs report provided a bit of a bounce in early afternoon trade, the Footsie had pared gains to finish flat by the close as
Read moreFTSE 100 movers: IAG leaps on Charles Stanley comments
2nd Nov 2012 16:14
Airlines group IAG was the top performer this afternoon, up three per cent over 168p. Technical analysts at Charles Stanley said: "A close above 168p would suggest that this line is giving way and would amount to a 'trading buy' signal." Oil giant Tullow was also a high riser after JPMorgan Caze
Read moreLondon midday: Markets cautious ahead of US non-farm payrolls
2nd Nov 2012 11:30
- All eyes on US jobs data - Outcome could be a major factor in presidential elections - Admiral, Meggitt and RBS disappoint The FTSE 100 was little changed by Friday lunchtime, having trade within a narrow range for most of the morning session, with investors nervous ahead the pivotal employment
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