Yesterday morning Red Emperor Resources requested a temporary suspension of trading in its shares on AIM pending an announcement in relation to a drilling update on the Shabeel North well. Red Emperor’s partner in Puntland (Somalia) – Range Resources, issued a statement later in the morning that “Range wishes to advise that final downhole logging is currently…
After a good day yesterday, Xcite Energy shares were languishing for most of the day, until an RNS late in the afternoon that the third and final stage of its private placing with Global Resource Funding Partners LLC had been completed. The shares closed up 1p at 85p. The third stage, issued 12,000,000 units (share…
Looking at the divergence of the Shanghai Composite index and the Dow Industrials over the last 3 years or so is staggering. In 2011 the Chinese index lost 20% of its value and it now sits at 2,106, down 17% in the last year and down 62% versus its peak of 5,589 in 2007 before…
After seemingly being stuck at 77p-78p for weeks with warrants due to be exercised, Xcite Energy has suddenly perked up with a 6% rise to 85p. There’s been plenty of rumours of farm-in’s with BP, Statoil etc and precious little news out from the company on the extended well test in the Bentley Field for over…
As well as John Paulson’s troubles at his hedge funds, the wider hedge fund industry is also struggling to outperform their benchmark indices and gain a handle on where the market is heading in the remainder of 2012. For example, the U.S. focused RBC Capital Markets Hedge 250 index was up 2.7% this year to…
The commodity sector seems to have been beset by nothing but a long list troubles of late, not helped by plunging commodity prices. It seems that management of many of the major commodity plays has gotten complacement about prices after the meltdown of 2008. Belief in the commodity “super-cycle” is still alive and well after…
North Falklands basin oil explorer, Desire Petroleum, today issued a competent person’s report (CPR) update on the Elaine and Isobel prospects prepared by Senergy. This CPR covers the interpretation results from the 2010/2011 merged 3D seismic data over the Elaine and Isobel prospects which are located wholly within the PL004a licence in which Desire has…
John Paulson, founder and President of Paulson & Co, a New York-based hedge fund has had a pretty torrid time of late. Paulson made nearly $4 billion personally (!) in 2007/08 by short-selling subprime mortgages and cleaned up again to the tune of $5 billion in 2010 – a record for the hedge fund industry.…
Private equity firms have just submitted final bids to acquire privately-owned stock photo agency Getty Images, the largest supplier of stock photos, video and other digital content in the world, in a deal expected to be worth $3.5 billion to $4 billion. The company was co-founded by Mark Getty and Chief Executive Officer Jonathan Klein in…
The Telegraph reported last week that at the Business Summit on Energy, hosted by UK Trade & Investment at Lancaster House with political luminaries George Osborne and Vince Cable present , Simon Thompson, chairman of Tullow Oil said that the UK North Sea was “one of the least stable fiscal regimes” in which he operates…
