Oil and gas company Prospex Energy (LON: PXEN) wants to raise at least £3.27m via a placing and subscription at 6p/share. There is also a retail offer of up to £500,000 and that could be increased if there is enough demand. This will finance a stake in a Spanish field that generates more than four-fifths […]

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Gas project developer Baron Oil (LON: BOIL) is changing its name to Sunda Energy to reflect its focus on southeast Asia. The Chuditch-2 well on the Chuditch production sharing contract area, offshore Timor-Leste, should be drilled by early 2025. The drilling date of the well depends on the availability of a suitable rig. Environmental approvals […]

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The EU executive is unlikely to impose a price cap on Russian gas, according to a leaked document seen by the Guardian. However, the EU is currently seeking to introduce windfall taxes on energy company “surplus” profits. The Guardian published a report on the EU’s draft regulation on the “electricity emergency tool”, which contained no […]

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Energean shares surged 10.9% to 1,381p in early morning trading on Thursday following a 65% increase in revenues to $339 million in HY2 2022 against $205.5 million the year before. The energy company reported a 165% spike in adjusted EBITAX to $198.2 million compared to $74.7 million. Energean said its sparkling financial returns were underpinned […]

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SulNOx announced its new partnership with Rominserv on Wednesday, marking the company’s first large scale agreement with a major petroleum firm. Rominserv, which currently operates as part of the Romanian crude oil company Rompetrol Group, signed a Memorandum of Understanding (MoU) for SulNOx to initially review and advise on the use of its products within […]

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The Euro hit a 20-year low, sinking 0.43% to 0.9911 dollars on Monday as the energy crisis ravaged the European continent. The plunge followed Russian gas giant Gazprom’s announcement that its three-day suspension of the Nord Stream 1 pipeline would be extended indefinitely, after maintenance works uncovered apparent oil leaks in the vital gas supply […]

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Shell CEO Ben van Beurden is set to resign after almost a decade in the position, according to Reuters. Two sources close to the matter apparently told the news organisation van Beurden had shortlisted four potential candidates to replace him in the leadership role. Shell head of integrated gas and renewables Wael Sawan is said […]

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Russian energy firm Gazprom shut down the Nord Stream 1 pipeline on Wednesday for unscheduled “maintenance work” on the Trent 60 gas compressor unit operating on the critical supply route to Germany. Gas supply to Europe is scheduled for suspension until 2 September, temporarily crippling the continent’s efforts to stockpile energy supplies in advance of […]

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PetroTal shares soared 13.6% to 47.1p in late afternoon trading on Thursday, after the firm announced its seventh consecutive quarter of production growth. The company reported a record of almost $100 million generated in net operating income in Q2 2022, against $29.6 million in HY1 2021. PetroTal confirmed crude oil revenues of $118.4 million from […]

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Harbour Energy shares soared 10% to 473.6p in late morning trading on Thursday after the company announced a revenue and other income growth to $2.6 billion in HY1 2022 compared to $1.4 billion in HY1 2021. Harbour Energy linked its higher revenue to increased realised liquid and gas prices and rising production volumes associated with […]

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The UK reported no fuel imports from Russia for the first time on record, according to the National Office of Statistics (ONS). The historic announcement marked a fall of £499 million from the monthly average for the 12 months to February 2022, after the UK government said it would phase out all Russian oil imports […]

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Deltic Energy shares dropped 4% to 3.6p in early morning trading on Wednesday after the natural resources firm announced a widened loss to £1 million in HY1 2022 compared to a loss of £691,754 the year before. The company reported a cash outflow of £2.4 million in the financial term against £873,064 in HY1 2021. […]

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Energy bills are estimated to hit £5,038 per year in 2023, according to analysts at Auxilione. Experts said Ofgem would probably raise the price cap for the average UK household to the £5,000 mark from April next year. The news comes the same week that analysts at Cornwall Insight warned consumers to expect a price […]

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Petrofac shares dipped 0.3% to 114.8p in late afternoon trading on Thursday after the energy group reported a 23% HY1 2022 revenue fall to $1.2 billion against $1.6 billion the last year. The company highlighted 40% dive in its Engineering and Construction sector to $700 million compared to $1.1 billion in HY1 2021, linked to […]

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US inflation dropped to 8.5% in July from its previous figure of 9.1%, in some desperately needed good news in the gloomy market landscape. Inflation came in below the 8.7% analyst consensus as gas prices fell across the Atlantic, dragging inflation down, albeit still within a decades-long high. The gas index fell 7.7% last month, […]

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Diversified Energy shares rose 0.7% to 125.7p in early morning trading on Monday after the group reported an adjusted EBITDA growth of 48% to $224 million in HY1 2022 compared to $151 million in HY1 2021. Diversified Energy also confirmed a cash margin of 48% across the HY1 financial period. The firm highlighted a net […]

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The FTSE 100 saw a sleepy session of trading on Tuesday, with the index rising 0.1% to 7,419.5 in early afternoon trading. The market dodged the panic across the Asian markets, however, US House Speaker Nancy Pelosi’s visit to Taiwan set off renewed alarm bells as geopolitical tensions flared. “The FTSE 100 was in consolidation […]

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BP shares gained 3.6% to 406.7p in early morning trading on Tuesday following a reported strong Q2 for the energy giant, including an 85% surge in revenue to $69.5 billion. The oil and gas company noted an underlying profit growth to $8.5 billion compared to $2.8 billion year-on-year, driven by strong realised refining margins, strong […]

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Shell shares rose 1.8% to 2,156.5p in early morning trading on Thursday after the oil giant announced a bumper $11.5 billion profit in Q2 2022, representing a 26% rise against its shattering $9.1 billion intake in Q1 2022. Shell reported an adjusted EBITDA of $23.1 billion, marking a 22% leap over its $19 billion figure […]

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The FTSE 100 gained a 0.5% boost to 7,343.5 after a slate of positive results from the UK and US markets helped the FTSE 100 outperform European indices and US futures. “The FTSE 100 made some modest progress on Tuesday morning as earnings reports on both sides of the Atlantic turn from a trickle to […]

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Shell has seen its already impressive profits rise higher in 2022, with the oil giant reporting a tripled profit intake for Q1 and a higher dividend payout. The price of oil has surged to heights of almost $130 per barrel since the war in Ukraine kicked off in late February, and currently stands at $112 […]

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Union Jack Oil shares were up 1% to 27.8p in late afternoon trading on Monday following a reported $7 million in net revenues achieved from the Wressle hydrocarbon development located within licenses PEDL180 and PEDL182 in North Lincolnshire. Union Jack Oil holds a 40% economic interest in the development, which has a current constrained flow-rate of […]

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Energean shares dipped 2% to 1,186p in late morning trading on Monday after the company reported the extension of its 2022 growth drilling programme by exercising its option to drill two additional wells with Stena Drilling Limited. The first well is set to target the Hermes prospect at Block 31 and is scheduled to spud […]

The post Energean extends 2022 drilling programme, completes KM-04 well ahead of schedule appeared first on UK Investor Magazine.

Clontarf Energy shares declined 1.4% to 0.08p in early afternoon trading on Tuesday, after the oil and gas firm announced the completion of its Sasanof-1 exploration well located 207 kilometres north-west of Onslow, Western Australia. The well had been operated by Western Gas, who reported that the well was drilled by the Balaris MS-1 semi-submersible […]

The post Clontarf Energy plugs Sasanof-1 well, eyes alternative WA-519-P prospect leads appeared first on UK Investor Magazine.

The UK energy price cap is set to increase in October to a record-shattering £2,800, with the average UK household anticipated to pay an additional £800 per year in energy bills. The entire country is on track to pay an extra £18.3 billion in energy costs from October 2022, just as the cold weather starts […]

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Chariot Ltd (LON: CHAR) has raised £20.4m ($25.5m) at 18p a share and that should provide enough money to push forward with the Anchois gas development in Morocco and the renewables projects that are in process. There will be additional cash to come from an open offer. An upgrade in net gas pay estimates for […]

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Arrow Exploration shares increased 20.8% to 16.3p in late afternoon trading on Wednesday, after the company reported six hydrocarbons bearing intervals at a total of 90 net feet of oil pay in its Rio Cravo Este-2 (RCE-2) well. The oil and gas firm commented that its Colombia-based project targeted a large, three-way fault bounded structure […]

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Nostra Terra shares were up 11.5% to 0.7p in early morning trading on Monday, following an update that the company’s Fouke 2 well production rates had exceeded management expectations with a rate of 145 barrels of oil per day (bodp). The oil and gas firm said the production was 77% higher than its Fouke 1 […]

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Centrica announced that it has delivered a “strong operational performance” in its Q1 trading update for 2022 and anticipates EPS for the full year to be around the top end of analyst expectations said the group on Tuesday. The range of 2022 adjusted profits per share from 8 sell-side analyst projections issued since Centrica’s 2021 preliminary […]

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The EU has said it will deny Russian demands for member states to pay for oil and gas from national energy company Gazprom in roubles. European commissioner for energy Kadri Simson commented that Moscow’s ultimatum to pay in Russian currency or forfeit the supply of Moscow’s energy exports had been rejected, following a meeting of […]

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Lekoil shares (LON: LEK) are down almost 18% on Friday’s opening. The oil and gas exploration and production company published interim results for the six months ended 30 June 2020. Net loss widened from $2.7m last year to $7.9m. Lekoil said that the first six months of the year were “challenging” for the oil and […]

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It’s little secret that FTSE 100 oil stocks have been absolutely battered in 2020, and today’s share price drops seemed to add icing to the rather underwhelming cake. If you’re confused about why today in particular is significant, here are a few reasons why it might be so. Number 1: Sluggish oil price recovery Yes, […]

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Europa Oil & Gas shares (LON: EOG) fell after the group announced its final results for the 12 month period ended 31 July 2020. Revenue for the full-year fell from £1.7m in 2019 to £1.2m in the 12 months to the end of July 2020, whilst pre-tax loss widened from £0.9m to £1.2m. Chief executive, […]

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Aminex shares (LON: AEX) soared over 168% on Monday as the group Ruvuma gas project gained approval from the Tanzanian government. The wholly-owned subsidiary, Ndovu Resources Limited, has received approval and the transaction is expected to be completed in the next few days. Robert Ambrose, chief executive of Aminex, said: “We are delighted to finally […]

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The Royal Dutch Shell PLC (LON:RDSA) share price has slipped by 2.34% just before lunchtime on Tuesday as the company warns that the historic slump in oil prices could reduce the value of its assets by as much as $22 billion. A tumultuous few months for the oil industry look set to have a lasting […]

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Shale gas drilling powerhouse Chesapeake Energy Corporation (NYSE:CHK) has filed for bankruptcy, sending its share price down 7%. The Oklahoma-based fracking pioneer has racked up debts of $9 billion as well as a notorious reputation for its negative environmental impact – the company is ranked the 90th most polluting business in the world. Chesapeake has […]

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BP plc (LON: BP) has announced the sale of its global petrochemicals business to London-based chemical producers INEOS. The $5 billion transaction of BP’s aromatics, acetyls and related commodities represents the “next strategic step” in reinventing BP’s portfolio. BP’s share price bounced a modest 2.57% or 7.82p to 312.42p at BST 10:41 in response to […]

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BP plc (LON:BP) is to slash $17.5 billion off the value of its oil and gas assets following grim projections of the impact of the coronavirus pandemic on global oil demand. Just last week, the company announced plans to cut up to 10,000 jobs by the end of the year, representing nearly 15% of its […]

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Shares in Tullow Oil plc (LON:TLW) have nosedived on Thursday afternoon as the firm revealed that it had swung to a loss across 2019. Tullow Oil have seen a tough few weeks of trading, and the share price has seen a downward trend. The firm revealed today that following the publishing of their annual results […]

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Cairn Energy PLC (LON:CNE) have swung to a profit in their recently ended financial year – which rounds of an excellent year for the firm. The oil exploration firm noted that its’ strong production performance drove the update published today. Cairn said that their pretax profit totaled $119.5 million across 2019 – this sees a […]

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Premier Oil (LON:PMO) have seen their shares in red, despite the firm giving a relatively steady update on Thursday. Premier Oil told the market that it had seen a year of progress, however its’ profit levels had been bruised due to higher charges. The CEO noted: “2019 was another year of strong operational and financial […]

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Reabold Resources PLC (LON:RBD) have said that they are looking to increase production across their operations in California. Reabold noted that it had seen success at the which lies within West Brentwood licence in California. This means that it has unlocked a new field with more running room than initially anticipated. The firm said: “VG-6 […]

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Egdon Resources Plc (LON:EDR) have updated the market on Wednesday on their first half operations. The oil and gas exploration firm said that production in the first half of its financial year had increased compared to the same period one year ago. Additionally, the current volumes of production has remained constant with guidance. Across the […]

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Weir Group PLC (LON:WEIR) have seen their shares jump nearly 7% despite the firm giving shareholders mixed annual results. The engineering firm noted that it had swung to an annual loss, due to an impairment charge it tase over its North American assets. The CEO commented: “North American oil and gas market conditions deteriorated significantly […]

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Tower Resources PLC (LON:TRP) have told the market that they are planning to spud the NJOM-3 well. This well is located on the Thali licence, which is in Cameroon. Tower have said that these operations are set to commence in June, however the date is still flexible as it could take longer than expected. The […]

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Petrotal Corp (LON:PTAL) have reported a rise in reserves at the end of 2019, in an update on Tuesday afternoon. The firm also told shareholders that it had started to drill the Bretana 6H oil well in Peru. Looking at the firms oil reserves, Petrotal said that they saw a rise of 20% at the […]

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Sound Energy PLC (LON:SOU) have seen their shares dive as the firm gave an update on its operations in Morocco. The firm said that it has not yet seen proof of funds from a private energy firm who agreed to buy its assets in Morocco in November. Sound Energy told the market that the deal […]

The post Sound Energy’s Morocco deal is put on hold appeared first on UK Investor Magazine.

Kosmos Energy (LON:KOS) have agreed to sell liquefied natural gas to BP Gas Marketing Ltd, which is a subsidiary of BP PLC (LON:BP). The firm said that the liquefied natural gas will be sourced from phase one of the Greater Tortue Ahmeyim project, offshore Mauritania. The agreement will mean that BP takes 3.45 million tonnes […]

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Rockrose Energy (LON:RRE) have said that they will complete a 100% acquisition of the Cotton gas field in the UK. The Cotton Gas field forms part of the UK sector of the Southern North Sea, and the deal terms are yet be disclosed. Rockrose have signed a sale and purchase agreement to acquire Speedwell Energy […]

The post Rockrose continue strong start to 2020 with Cotton gas field acquisition appeared first on UK Investor Magazine.

BP plc (LON:BP) shares have jumped on Tuesday morning as the firm gave an update on their fourth quarter operations. The oil and gas major reported a fall in fourth quarter and annual earnings, as both oil and gas prices remained volatile in the quarterly period. Notably, this would be the last time Chief Executive […]

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Touchstone Exploration (LON:TXP) have told shareholders that they have received “extremely encouraging” results from testing of a well in Trinidad & Tobago. Touchstone Exploration Inc. is a Calgary based company engaged in the business of acquiring interests in petroleum and natural gas rights and the exploration, development, production and sale of petroleum and natural gas. […]

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Anglo African Oil & Gas (LON:AAOG) have told shareholders that they have added a new investor to their portfolio on Monday. Anglo African said that Forum Energy Services Ltd (NYSE:FET) had taken a stake in the company, as shares jumped. Riverfort Global Opportunities PCC (LON:RGO) and YA II PN Ltd will be selling 84.0 million […]

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AIM listed independent, East Africa-focused natural gas company Wentworth Resources PLC (LON: WEN) issued a positive update and guidance report on Tuesday. The update told investors that it it was on target to be debt-free by January 2020, and that it also remained on track to fall within its full-year average daily Mnazi Bay production […]

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Shifting its spending from development activities into exploration appears to have paid off for Trinidad-focused oil and gas producer Touchstone Exploration Inc (LON: TXP). Production test results from the Coho-1 exploration well are better than expected, although the test was for a limited time, and the share price rose 1.75p to 13.25p. The downside of […]

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Oil and gas producer Enteq Upstream plc (LON: NTQ) saw its shares dip despite posting progress in its half-year financials. The Company saw its revenues jump 58% year-on-year to $6.5 million for the half year ended 30 September 2019, which led a 143% surge in its EBITDA, up to $1.5 million. However, Enteq also noted […]

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Oil and gas exploration and development company Anglo African Oil & Gas (LON: AAOG) saw good financial progress during the first half, as it worked towards signing a rig contract for sidetrack drilling at the Tilapia licence. It told investors that it would be making efforts to sign the contract based on the prospect in […]

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Oil and gas exploration and development company Chariot Oil and Gas Limited (LON: CHAR) saw its losses narrow due to a decline in its share based payments as it continued the developments of its ventures. The Company booked a loss from operations of £1.898 million, contracting from £2.028 million. This was led by a fall […]

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Energy-focused investment company Prospex Oil and Gas PLC (LON: PXOG) has seen its shares slide on Monday following a deepening of its first half losses. The Company booked first half net losses of £0.691 million, widening from £0.541 million year-on-year for the period. Prospex Oil and Gas did make some progress in its financial results, […]

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Oil and gas project investment firm Reabold Resources PLC (LON: RBD) announced today that their West Newton A-2 appraisal well represents a far more significant discovery then they had previously anticipated. Reabold holds a 24% interest in the licence through its 36% holding in Rathlin Energy, who operate the well. After initially anticipating the site […]

The post Rebould Resources shares bounce on surprise oil discovery appeared first on UK Investor Magazine.

Independent oil and gas exploration and production company IGas Energy PLC (LON: IGAS) seeks a new site and announces it could potentially drill two exploration and appraisal wells at its Weald Basin. The Company’s initial well would seek to test and evaluate the potential for commerical resources at both the Kimmeridge Mcrites and Portland Sandstones […]

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Oil and gas producing company Anglo African Oil and Gas (LON: AAOG) announced on Wednesday that it had received commitments to raise up to £8.25 million via a share issuing to fund its attempts tore-enter the TLP-103C well. The well is based at the Company’s Tilapia field in the Republic of Congo, and the Company […]

The post Anglo African Oil & Gas issue £8.25m share placement to fund oil production appeared first on UK Investor Magazine.

Oil and gas producer Nostra Terra Oil and Gas plc (LON: NTOG) saw their losses narrow on-year with a growth in sales. However, the increase in revenues was offset by expenses, which easily weighed down profits. The Company’s outlook remains positive despite the surface-level headline being that Nostra Terra has booked a consecutive full-year loss. […]

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Advanced materials group Versarien PLC (LON: VRS) has seen its shares spike during trading on Friday, following the Company’s announcement that it had secured its first graphene order. @versarien is pleased to announce that the Company has secured its first graphene order from a US based company, operating in the oil and gas exploration sector. […]

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Oil and gas producer Rose Petroleum PLC (LON: ROSE) has seen its share price jump on the release of its full-year financial performance and the announcement of new board appointments. The results The Company announced that they were able to narrow their margin of loss on-year, owing to spending reductions and favourable exchange rate movements. […]

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Oil and gas exploration and production company Mayan Energy Ltd (LON: MYN) announced that its production volumes had been weighed down by a period of adverse of weather conditions. The Company said that its Texas assets had been limited during May, with gross mean average production of oil down to 131 barrels per day, and […]

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Tullow Oil Plc (LON:TLW) have announced a shift to an annual profit after a hike in revenues. The news has allowed the oil and gas exploration firm to reinstate its dividend for its shareholders. The latest round of results announced that the company had produced 88,200 barrels of oil per day, and this informed their […]

The post Tullow books profit and reinstates dividend appeared first on UK Investor Magazine.

Gas and electricity supplier to SME businesses, Yu Group Plc (LON:YU), has seen its share price more than double during trading on Wednesday, while the company said that it expected to report a deep pre-tax loss. Extensive pre-tax losses The company’s revenue for the financial year was expected to stand at approximately £80 million, with […]

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Anglo African Oil and Gas plc (LON:AAOG) have announced they are to raise £6 million for expansion of their pre-existing operations and drilling into new geological features. The independent oil and gas firm base their operations in the Democratic Republic of Congo. They are planning to increase the output of existing wells in their Tilapia […]

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AIM and London-based upstream gas firm Sound Energy Plc (LON:SOU) saw their share price dip to a 52-week low yesterday. The news puts the company at the fore of many an avid investor’s agendas for the day, with online forum’s reeling at the news that the firm’s shares dipped as low as 11p during trading […]

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Cluff Natural Resources (LON:CLNR) said on Wednesday that it would raise 2 million GBP via placement and subscription of 95.2 million shares. The company said 80.5 million of the shares will be issued via placing and the remaining 14.7 million shares will be issued through the subscription. According to Cluff, the additional funds raised will […]

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