By Amy McLellan It’s three out of three for the trio of AIM companies behind the Wressle-1 discovery in the East Midlands in the UK, with the third of the three intervals tested free-flowing up to 1.7 million cubic feet per day of gas and up to 12 barrels per day of 35-degree API oil.…
Glencore, hit or miss? According to VSA, Glencore’s latest set of results missed consensus as revenues dropped by five per cent to US$221.1 billion and earnings before interest, tax, depreciation and amortisation fell 2.3 per cent to US$12.77 billion. Of course, a lot depends on what exactly your idea of consensus is. VSA argued that…
By Alastair Ford It’s been a slightly bumpy ride for Caledonia Mining shareholders over the past year or so, and with that in mind the company is planning regular updates in regards to its expansion plans at the Blanket gold mine in Zimbabwe. “Every quarter or so we’re going to be putting out a press…
By Amy McLellan Shares in beleaguered Afren plc surged almost 20 per cent in morning trading on Monday as the London-listed company provided an update on its capital structure. The oil producer, which pumps around 32,000 bpd from fields in Nigeria, has been under pressure since last summer when serious governance issues were unveiled, leading…
By Alastair Ford “We’ve been through tough times”, says Cobus Loots, the new chief executive of Pan African Resources. Indeed, the company’s latest set of results, for the six months to December 2014, don’t exactly make for good reading: revenue dropped by more than £16 million over the corresponding period in the previous year, while…
By Amy McLellan Green Dragon Gas, the China-focused coal bed methane producer, last week released its annual audited reserves report which, for the ninth consecutive year, revealed positive growth. Net 1P reserves were up 17 per cent at almost 148 BCF and 2P reserves were up 12 per cent at 426.8 BCF. The 3P number…
By Stewart Dalby The word” shortly” or its equivalents have been used so often about several aspects of Aminex’s flagship project, the Kiliwani North gas development in Tanzania, that they seem almost to have lost their currency. Shareholders have been told many times in recent months that the pipeline linking the KN-1 well to the…
By Our Man in Oz Minews. Good morning Australia. Your market seems to have had a fairly good week. Oz. Fairly is one way of describing what was actually a pretty flat week. Most mining stocks gained a few cents, and the mining index was up a healthy three per cent, but there wasn’t a…
By Eithne Treanor There was a sense of optimism in parts of the market at the end of this week as oil prices began to look stronger and supply appeared to ease. The Saudi Arabian oil minister described the market as “calm” after months of volatility that had traders and investors on edge. In early…
What a week for shareholders in Gulf Keystone Petroleum, which has hoisted the “for sale” sign as it wrestles with the challenges of selling oil in Kurdistan with the necessity of meeting its debt obligations. Shareholders have long speculated about the future of the oil group, which soared in value, migrating from AIM to London’s…
