Two thousand and fourteen wasn’t the best year for Hurricane Energy to drill its breakthrough well in the West of Shetlands. The company, which made its debut on AIM in February 2014 to add another £17 million to its balance sheet, delighted its new shareholders when its Q2 horizontal appraisal well on its Lancaster oilfield…
By Eithne Treanor American stockpiles continued their decline for the third week and the geopolitical situation remained volatile. This added further uncertainty to the oil market, but the price held strong. In early trading on Friday, Brent crude was priced around US$66 with WTI back above US$60 a barrel. The volatility on the market will…
UK Government borrowing dropped to £6.8 billion in April, down from £9.3 billion in the same month of 2014 and the lowest April figure since 2008. The Office for National Statistics revised its full year estimates upwards to £87.7 billion, which remains below the government’s target of £90.3 billion. However, this target may be further…
The Office for National Statistics has released data for April showing that retail sales were 4.7% higher than a year ago and up by 1.2% from the prior month, with growth driven by an exceptional performance in the clothing sector. The supermarket price war continues to apply downward pressure and the cost of fuel also…
The Confederation of British Industry has said that businesses should step in to the debate on EU membership early and stated that remaining in the organisation was in the country’s best interests. The remarks were made by the CBI’s President Sir Mike Rake ahead of the organisation’s annual dinner. Sir Mike told the BBC that…
By Amy McLellan Nostra Terra Oil and Gas continues to add to its portfolio. The AIM-quoted E&P has acquired a one per cent working interest in the San Miguel Prospect stretching for 35,000 acres in South Texas, building on last month’s acquisition of an interest in the 20,000 acre Don Pedro prospect. This represents Nostra…
By Stewart Dalby London AIM-listed InfraStrata started out as a gas storage company before diversifying into exploration. As it starts out on an exciting five well drilling programme (two of which will be sunk this year) it has announced that first up with the drillbit is a well to recover salt cores on its Islandmagee…
The Office for National Statistics has announced that annual UK CPI inflation dropped to -0.1% in April from 0% in February and March. This is the first negative reading since the introduction of the CPI measure in 1996. Economists predicted that deflation would be short-lived and had come about due to a confluence of falling…
by Frederik Vanhaverbeke In the latest of a series for Master Investor Magazine, Frederik Vanhaverbeke, author of Excess Returns: A comparative study of the methods of the world’s greatest investors, looks at how some of the world’s greatest investors are so successful. The extreme efficient market theory is “bonkers”. It was an intellectually consistent theory…
Shares in Bahamas Petroleum Company enjoyed a near 18 per cent gain in morning trading on Monday after the AIM-quoted explorer announced an extension on its southern licences. The Isle of Main-based company confirmed that its licences have been extended until Q2 2018 with the date to start drilling pushed back until April 2017, buying…
