Repsol takes 44 per cent interest in Tower Resources licence
30th Jul 2012 08:23
Tower Resources, an oil and gas producer, has said that Repsol has agreed to take a 44 per cent working interest in the Namibian offshore licence 0010, in addition to becoming the operator. Tower's subsidiary, Neptune Petroleum, has also entered into a farm-out agreement with Arcadia Expro Namibia
Read moreBroker tips: Carnival, Polymetal, Tower Resources...
25th Jun 2012 11:26
Investec has labelled cruise operator Carnival as a 'key sector pick', saying that the recent dip in the share price should be used as a buying opportunity; the target price is lifted from 2,500p to 3,000p. "We advise utilising Friday's drop to invest in our sector key pick, with the group having:
Read moreBroker snap: Jefferies downgrades Tower and Cove
25th Jun 2012 11:23
Jefferies has downgraded its ratings for both Tower Resources and Cove Energy as part of its review of the oil and gas exploration and production sector. "We continue to favour E&Ps with high quality exploration with near-term exploration catalysts. We believe oil prices should stabilise as Saudi A
Read moreLSE boss buys double round of shares
15th Jun 2012 15:56
- Correction: On Wednesday it was incorrectly reported that Wood Group's Chairman had sold shares; it was in fact the Group Chairman who made the sale. Xavier Rolet, the chief executive officer of the London Stock Exchange Group, has had a busy few days, buying two rounds of shares in the same we
Read moreChariot racing on Namibia rig contract
6th Mar 2012 11:29
The Africa focused energy explorer, Chariot Oil & Gas, has managed to secure a drilling rig for its offshore Namibia operations. The Maersk Deliverer rig is expected to arrive on location at the end of March 2012 and drilling of the Tapir South prospect will start shortly afterwards. Chariot recko
Read moreMurdoch's senior advisor ditches bucket load of shares
2nd Mar 2012 16:08
Arthur Siskind, senior advisor to News Corp. Chairman Rupert Murdoch, has ditched 120,000 shares in the firm. Siskind sold the shares at $20.26 each for a total of $2,431,200 on February 29th. The transaction came just one day before James Murdoch, son of media mogul Rupert Murdoch, quit his rol
Read moreBroker snap: Mozambican 'tax-grab' bad news for Cove, says Merchant Securities
2nd Mar 2012 10:19
Merchant Securities has warned investors of east Africa-focused oil and gas group Cove Energy to watch the developments in Mozambique closely, after the firm confirmed the possibility of a tax charge levied by the government. The tax is in connection with the proposed indirect transfer of the Cove'
Read moreBroker tips: Vedanta Resources, Galliford Try, Oil stocks
22nd Feb 2012 11:25
Credit Suisse believes that a major restructuring within the businesses of miner Vedanta Resources would be a "strong positive" and continues to see significant upside in the stock. Credit Suisse said that "if the reports are correct and a merger is successful it would not change group consolidate
Read moreBroker snap: Strong read-across for Cove peers after Shell bid
22nd Feb 2012 09:49
Merchant Securities has highlighted potential for sector peers of Cove Energy after Royal Dutch Shell launched a bid for the AIM-listed oil and gas producer this morning. Shares in AIM-listed Cove Energy jumped after Anglo-Dutch integrated oil company Shell launched a bid of 195p per share. The dea
Read moreLondon open: Footsie slips as ex-div stocks provide a drag
22nd Feb 2012 08:35
- Shell makes near-£1bn bid for Cove Energy. - Markets digest Greek bailout, China data. - Ex-div stocks provide a drag. The FTSE 100 slipped slightly into the red in the opening hour on Wednesday as investors continue to digest the Greek bailout approved on Monday night. Meanwhile, Chinese manufac
Read moreSmall caps round-up: Monitise, YouGov, 1pm ...
9th Feb 2012 11:07
Monitise has announced a collaboration with Visa, in which Visa DPS will use Monitse's mobile services. The services allow financial institutions to offer their account holders the ability to monitor account history and balances, transfer funds between accounts, and receive near real time transactio
Read moreSmall caps round-up: Caza, Tower Resources, Noventa...
2nd Feb 2012 12:17
Mining firm Noventa says that operations have suffered from a "plague" of beetles as a result of tropical storms which have hit the firm's Marropino site in Mozambique over the past 10 days. The Rove Beetle is very poisonous and around 30% of the workforce at Marropino have been affected by the seve
Read moreTower Resources rises on drill funding
6th Jan 2012 11:23
Tower Resources, the Africa focused oil and gas explorer, is up 2.3% this morning on news of a new financing agreement. Tower has tapped investment fund manager, Yorkville Advisors, for an initial $3.35m loan, with the capacity to increase the amount to $6.125m if required. The loan is backed by a
Read moreOutgoing chief at Spirit buys shares
29th Nov 2011 16:29
Spirit Pub Company's outgoing chief executive Ian Dyson has purchased £58,575 worth of shares just days before he exits the company. The director, who is leaving the firm after just over a year in the job, bought up 150,000 shares at 39.05p. The former Marks & Spencer finance director will leave
Read moreTower raises $4m to fund African drilling
13th Oct 2011 09:17
Tower Resources, the Africa focused oil and gas exploration company, has raised $4m through a discounted share placing. The deal has seen 103.7m new shares issued at a price of 2.5p per share, a discount of nearly 30% on last night's price of 3.47p. In total the new shares represent around 8.46% o
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