Shares in AIM-quoted Lansdowne Oil & Gas tumbled 20 per cent on last week after investors were spooked by a comment in the results statement from Providence Resources, the operator of Lansdowne’s flagship asset. The recent results statement from fellow AIM company Providence, operator of the Barryroe oilfield in the Celtic Sea in which Lansdowne…
By Amy McLellan Victoria Oil & Gas has acquired the Logbaba gas processing plant, which processes and separates the output from its Logbaba gas-condensate field in Cameroon, for US$2.578 million. The AIM-quoted gas company funded the purchase from cash flows from its growing gas production and distribution business: the condensate is sold to a local…
By Eithne Treanor Oil inventories in the US continued their decline for a fourth week, giving the price a boost after surprising losses mid week. In early trading on Friday, Brent crude was priced above US$62 with WTI around US$58 a barrel. The Energy Information Administration said crude stockpiles fell by 2.8 million barrels this…
The US economy contracted by 0.7% in the first quarter of 2015 relative to the same period of last year. The Bureau of Economic Analysis adjusted its previous estimate of 0.2% growth downwards after more detailed information on import levels and capital investment became available. Analysts remained positive about the rest of the year, with…
Good news for followers of the exploration campaign in the Falkland Islands as Premier Oil has struck oil with the Isobel Deep exploration well. The discovery lies in the North Falkland Basin, some 30 km from the company’s Sea Lion oilfield. The Isobel Deep exploration well was drilled to a depth of 2,527 metres, short…
Last month, facing a cash crunch, under-pressure Kea Petroleum sought to raise £3 million through an equity fundraise via PrimaryBid.com in order to progress the Shannon prospect for drilling. The New Zealand focused company received aggregated bids of more than £1 million and extended the deadline on the open book offer to try to close…
By Stewart Dalby Hard on the heels of the announcement that there has been movement with Northern Petroleum’s long dormant Italian Portfolio by way of a significant farm-in by Shell into one of its onshore assets there, the company has announced there has now been progress with its low-risk production- growth strategy in Canada. Two…
HM Government has pledged that future increases to the income tax personal allowance will track increases in the minimum wage. With the minimum wage set to rise 3% this October, we can expect a commensurate increase in allowances around the same time, and some experts believe that this may be echoed upwards through the tax…
The first criminal trial to result from the investigation into the LIBOR fixing scandal has begun today, with former UBS and Citigroup trader Tom Hayes accused of 8 counts of conspiracy between 2006-2010. Prosecutor Mukul Chawla described Mr Hayes as “the ringmaster at the very centre, telling others around him what to do and in…
By Connor Campbell With Bwin.Party Digital Entertainment (BPTY) the belle of the takeover ball at the moment, it makes sense to investigate the company’s current standing, and whether or not it’s a gamble worth taking. Currently the bidding war appears to be between 888 Holdings (888) and GVC Holdings (GVC), the latter being backed by…
