By Stewart Dalby In March we wrote that the AIM quoted E & P Northern Petroleum appeared to have pulled off a coup by bagging Shell for a farm in for one of its Italian permits. We added at the time the caution that, of course, the deal was dependent on Italian approvals, which never…
By Amy McLellan Providence Resources has released details of its Polaris oil prospect in the Rathlin Basin off the coast of Antrim in Northern Ireland. This is a very early stage exploration project but Providence has long been excited about the prospectivity of the acreage, which it holds on a 100 per cent basis. The…
By Eithne Trreanor The oil price seems to have found a new level as investors and traders ponder the state of the market in the sixties. The dollar remains strong, supply remains more than ample and the fundamentals remain out of balance. In early trading on Friday, Brent crude was still close to a healthy…
The Office for National Statistics said that the construction sector grew by 1.6% in March relative to the same month last year and output was 3.9% higher than in February. Private sector housing returned to growth after 5 consecutive months of contraction. Gareth Hird from consultantcy McBains Cooper commented, “today’s figures represent encouraging news. However,…
The Royal Institute of Chartered Surveyors has said that a lack of houses coming on to the market is driving the continued increase in prices, as demand from buyers remains unchanged while the number of new instructions for sale decreased for the eighth time in 9 months. RICS Chief Economist Simon Rubinsohn commented that “it…
By Amy McLellan Atlantic Petroleum, which is listed in Copenhagen and Oslo, has sold off its 10 per cent stake in three North Sea licences, including the Pegasus West gas discovery, for up to £16.5 million. The deal has been agreed with Third Energy Offshore, a privately-owned company based in Yorkshire, which will pay £7.5…
Unemployment in the UK hit a 7 year low after new figures from the Office for National Statistics showed 1.83 million people were out of work at the end of March. Average pay also rose by 1.9% relative to the same period of the prior year, meaning that real wage growth is at its fastest…
By Matthew Heywood of Spreadex Trading AIM stocks is a great way to invest in smaller companies that have the potential to provide significant earnings growth. AIM stocks also come with a number of tax incentives including Venture Capital Trusts, Enterprise Investment Schemes, Business Property Relief and the more familiar ISAs. However, one takes a…
By Amy McLellan Powered by its successes in Italy, Sound Oil is again looking to diversify. Earlier this year it wisely stepped away from a bid for troubled Antrim Energy, which would have added projects in Ireland and the UK North Sea, but now the company mulling a farm-in to the Tendrara licence onshore Morocco,…
Fresh data from the Office for National Statistics has shown that UK industrial output grew at its fastest rate for 6 months in March, rising by 0.5% from March. Manufacturing output also rose by 0.4% in March and February’s growth was adjusted upwards to 0.5%. Chris Williamson, Chief Economist at Markit, said that “the overall…
