Bowleven Plc 22 February 2013 22 February 2013 Bowleven plc (‘Bowleven’ or ‘the Company’) IM-5 drilling update IM-5 well, Block MLHP-7, Etinde Permit, Cameroon Bowleven, the Africa focused oil and gas exploration group traded on AIM, is pleased to announce that the IM-5 well drilling offshore Cameroon has now reached the Middle Isongo primary objective of…
Minesite review –The apocalypse at Avocet Mining entered a new phase last week when the company dramatically cut its reserves from upwards of 1.8 million ounces to closer to one million. A reserve downgrade had been expected, but its severity took most analysts by surprise, not least the number-crunchers at RFC Ambrian who had tipped…
The Chicago Board Options Exchange VIX index, which is based upon the S&P 500 options contracts volatility component and which is often used as a measure of equity volatility has fallen this in the early part of this year back towards six year lows. Yesterday it closed at 12.46. The index recorded its lowest level…
It can be said with little fear of contradiction (I hope!) that the following charting investigation into Gulf Keystone, one of the most widely held stocks on the London market, can be regarded as a very thorough one given the three timeframes my analysis covers. What should be remembered is that very often the near…
Regular readers will know that we were somewhat scathing of our competitors round at Shares Magazine following their misleading calculations over the hedge book liability in a piece they published last week (see here – http://www.spreadbetmagazine.com/blog/avocet-mining-shocking-financial-journalism-by-shares-magazi.html) and that we note has been corrected now. We are covering AVM extensively in the next edition of our…
21 Feb 2013 Cantor Opening Call The FTSE is seen opening down around 50 points this morning on the Asian moves UK Corporate Announcements BAE Systems announces a full year underlying EBITA of £1.9bn largely in line with the expectations and sees risks of further reductions in US defence budgets Mondi details that its…
Steve Cohen Interesting article below on Stevie Cohen’s SAC Capital firm that is currently under investigation for insider dealing in the US – While the mainstream media continues to spew out bearish news and headlines on precious metals and (especially) mining shares, SAC Capital Partners LP, a $20 billion dollar group of hedge funds founded byStephen A.…
CEO Simon Denham I read this mornings RNS from LCG closely and the results are largely as flagged. The real notable items being the stepping down of founder and CEO Simon Denham, being replaced by Mark Slade and the write down of their Prospreads acquisition to nil. We doubt that anything within the results will…
20 Feb 2013 Cantor Opening Call The FTSE is seen starting the day down around 5-10 points, after yesterday’s decent gains UK Corporate Announcements Travis Perkins announces a full year pre-tax profit of £299.9m, largely in line, on sales of £4.84bn also broadly in line with estimates RSA Insurance reports net written premiums…
FTSE DAILY In the past couple of weeks the FTSE had posted some minor profit taking, orange lines. However the price action in recent days has lifted the index back to fresh multi year highs. This recent move higher came out of the price action breaking out of the near term trading range, orange lines.…
