Category Archives: San Leon Energy

News & Tips

21 Wednesday Aug 2013

Posted by in Africa, African, African Barrick Gold, banks, Barrick Gold, Carlsberg A/S, Carlsberg Group, Cinven, Democratic Republic of Congo, Federal Reserve System, Get rich quick, Greg Hawkins, Hannover Re, Heineken, Heineken NV, investment, Lloyds Banking Group, Net profit, Northern Hemisphere, San Leon Energy, Uncategorized, US Federal Reserve

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Today’s market overview

There was mixed trading on European bourses ahead of minutes from the latest US Federal Reserve meeting. Meanwhile, Brent crude slipped marginally to $110.02/barrel, while gold held steady at $1,371.10 an ounce.

KEY STORIES:

The market reacted positively to good news from San Leon Energy (SLE). The company released details of fracture injection tests on the Siciny-2 well in Poland, which confirm the fractured nature of the reservoir in the well. The findings also suggest effective permeability, ‘frackable’ rock and slight over-pressure.

Lloyds Banking Group (LLOY) has sold German life insurer Heidelberger Leben to a joint venture between private equity group Cinven and Hannover Re for approximately €300m (£256m). The sale, along with a £254m sale of a batch of leveraged loans could accelerate UK government plans to start selling down its 39 per cent stake.

African Barrick Gold (ABG) announced the appointment of Bradley Gordon as chief executive. He succeeds Greg Hawkins, with immediate effect.

ITM Power (ITM) has been awarded a €350,000 grant to work on energy storage solutions for non-residential buildings, as part of a four-year programme working with a consortium of European organisations. The group’s role in the CommONEnergy project is the integration of hydrogen energy systems in a shopping centre.

Natural resources investor Armadale (ACP) has announced an initial investment and option to increase its interest in the Mpokoto Gold Project in the Katanga Province in the Democratic Republic of Congo, in line with Armadale’s strategy to build a portfolio of revenue generating African resource projects.

Roxi Petroleum (RXP) said it was very pleased with the results to date from both the shallow and deep wells at its flagship BNG asset.

MORE COMPANY NEWS:

Dutch brewer Heineken NV reported a 16.6 per cent fall in net profit, citing bad weather and soft demand in several of its Northern Hemisphere markets. Its Danish rival Carlsberg A/S pointed the finger at the Russian government’s aim to reduce alcohol consumption and relatively bad weather in Europe for a 36 per cent fall in second-quarter net profit.

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News & Tips

20 Tuesday Aug 2013

Posted by in 1997 Asian financial crisis, Africa, Auroch, Australia, banks, Business, Fiberweb, Get rich quick, India, investment, Norway, Norwegian Sea, pOLAND, San Leon Energy, Seadrill, South Africa, Uncategorized

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Today’s market overview

With echoes of the 1997-98 Asian crisis, India’s stock market is plunging, bond yields are nudging 10 per cent and capital is flooding out of the country.

IC TIP UPDATES:

South Africa-based gold miner Pan African Resources (PAF) has produced a six-month trading statement which revealed production of 130,500 ounces of gold in the year to June, including a contribution of 34,200 ounces from February’s Evander mine acquisition. The company said that underlying earnings will come in 34-44 per cent higher in rand terms compared to last year, and 25-35 per cent higher in sterling.

UK independent Faroe Petroleum (FPM) has secured a pair of farm-outs on licences in the Norwegian Sea. Spike Exploration Holdings and Concedo have acquired 15 per cent and 5 per cent respective stakes in the Norwegian Sea licence PL645. In return, the companies will carry costs associated with the Novus exploration well. Faroe Petroleum has contracted Seadrill’s West Navigator drillship to drill the Halten Terrace well, now expected to spud in November.

KEY STORIES:

Baobab Resources (BAO) has agreed a deal with Australian explorer Auroch Minerals over a portion of its Mundonguara exploration licence. Auroch will earn an 80 per cent stake in an exploration area adjacent to its own Manica gold project, which hosts 3m ounces of gold. To earn its stake Auroch must spend $1.5m on exploration and when completed it will have the opportunity to buy-out the remaining 20 per cent of the venture from Baobab.

Industrial manufacturer Fiberweb (FWEB) confirmed that has received a takeover proposal from Polymer Group Inc, which has been given until Sept. 17 to formalise a bid. The proposal is for 97.5p a share in cash plus the interim dividend of 1.2p a share, announced Aug. 2 and payable on Nov 1. Fiberweb said it would be its intention to recommend an offer from Polymer were it to be made at that price.

OTHER COMPANY NEWS:

San Leon Energy (SLE) is to assume operatorship of the Jany C1 well on the Nowa Sol licence in the Southern Permian Basin in Poland, about 15km north of its Czaslaw-1 well.

Scancell Holdings (SCLP), a developer of novel immunotherapies for the treatment of cancer, announced that its ordinary shares have been included on the Quotation Board of the Open Market of the Frankfurt Stock Exchange with effect from today.

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News & Tips

05 Monday Aug 2013

Posted by in Africa, Alent, Balfour Beatty, banks, Get rich quick, GW Pharmaceuticals, investment, Lok, San Leon Energy, Sativex, Ultra Electronics, Uncategorized

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Today’s market overview

Equities have retraced most of Friday’s losses in early trading and The Trader Dominic Picarda is confident that the rally is intact.

IC TIP UPDATES:

Simon Thompson recommendation Noble Investments (NBL) has moved to reassure investors that trading remains in line with expectation after recent falls in its share price. Furthermore, the company says it has reached an agreement over the recovery of fees owed by a Qatari collector, which should happen before the announcement of results for the year to end-August.

Altona Energy (ANR) says it has completed a feasibility study on its Ackaringa coal resources in South Australia with a view to building a coal-to-methanol project rather then the originally envisaged coal to liquids and power project which the company is still working on with China’s CNOOC. Our recommendation is under review.

KEY STORIES:

Serco (SRP) has been awarded a $115m one year contract by the United States Department of Health and Human Services to provide processing support to the applications for health plans. The deal carries with it four further one year options.

Balfour Beatty (BBY) has been appointed preferred bidder on a student accommodation scheme in Florida which will have a completed value of £330m.

Half year results from Morgan Sindall (MGNS) reflect the tough end markets in which it operates. Revenues edged up by 2 per cent, and the order book by just 1 per cent, but profits fell by more than 20 per cent as the company had to take some exceptional costs against old construction contracts.

Ultra Electronics (ULE) posted a steady performance for the opening half of the year with revenues flat at £367.7m but underlying profits creeping up by 1 per cent to £57.9m. Management reported that it expects a stronger second half and is in the running for a number of sizeable contracts, but their timing is uncertain.

Self storage specialist Lok ‘n’ Store (LOK) says its financial year to July ended strongly with record move-ins recorded in the final month while pricing has held up.

Specialist materials group Alent (ALNT), which demerged from Cookson Group last year, says that its end markets proved more challenging than expected during the first half of the year but that it outperformed its markets in posting flat revenues. Adjusted profits dipped by 3.1 per cent.

OTHER COMPANY NEWS:

GW Pharmaceuticals (GWP) announces further positive results from trials of its Sativex treatment for spasticity in multiple sclerosis sufferers which confirmed no long term affect on cognition.

Healthcare software specialist Emis Group (EMIS) is acquiring Cambridge-based opthamology screening technology business Digital Healthcare for £3.1m.

San Leon Energy (SLE) has commenced fracturing operations at its Rogity-1 well in Poland and begun mobilising for fracture testing at Siciny-2, also in Poland.

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