AEN.L Share News (AEN)

Andes Energia Loss Widens On Higher Administrative Expenses, One-Off Costs

Nearby oil discovery de-risks Andes Energia blocks in Colombia

Latin America-focused oil and gas group Andes Energia is hoping that an oil discovery close to two of its blocks in Colombia could bode well for its own projects. Carso Group, a conglomerate controlled by billionaire Carlos Slim Domit (the son of Mexican tycoon Carlos Slim Helu), has found oil at i

Tuesday broker round-up UPDATE

Alternative Networks: Westhouse Securities upgrades from neutral to add with a target price of 350p. Andes Energia: Westhouse Securities initiates with a target price of 60p and a buy recommendation. Andor Technology: Investec reduces target price from 525p to 360p downgrading from buy to hold. A

Andes Energia acquires issued share capital of Kilwer S.A

AIM-listed Andes Energia has completed the acquisition of the entire issued share capital of Kilwer S.A., a private oil and gas company with producing and exploration assets in Argentina, from local South American investors. The consideration for the acquisition has been satisfied in part by the is

Sierra Rutile Chairman tops up stake

Jan Castro, the non-Executive Chairman of Sierra Rutile, an AIM-listed producer of titanium feedstock industrial minerals, bought 113,750 ordinary shares just two weeks after the group posted a 39 per cent increase in total rutile production for the year. The shares, which were of no par value, we

Andes Energia awarded additional block in Colombia via subsidiary

Latin American energy group Andes Energia has been awarded an additional block in the Colombia Round 2012 bidding process through its subsidiary Andes Energia Argentina S.A, in a consortium with Integra Oil & Gas (IOG). This brings the total number of blocks awarded to eight. Nicolas Mallo Huergo,

Sector movers: SSE lights up electricity stocks after broker upgrade

Gains for heavyweight utilities group SSE meant that the electricity sector was the best performing category on Wednesday afternoon. The company announced late on that power generation at its Glendoe hydro electric scheme, near Loch Ness, has re-started three years after a rock fall occurred in one

Resources round-up: Berkeley Mining, Victoria Oil and Gas, EMED Mining

Berkeley Mining Resources dropped 8% after it failed to complete due diligence on two copper tailing clusters at Chingola in Zambia. The company recently signed an agreement on one site in the area and investors had hoped a deal on the other two would be forthcoming. Berkeley said it continued to n

Andes Energia splashes out on Latin American assets

The Argentina-focused energy company Andes Energia has bought its sector peer AHI through a share swap. The deal means Andes gets assets in Paraguay, as well as two further sites in Argentina. "These assets represent an enormous potential in conventional and unconventional resources," asserted Nic

Sector movers: Henderson drags financials services sector lower

The financial services sector was the worst performing category of the day, as a sharp fall for Henderson Group outweighed a strong showing from International Personal Finance. Henderson, the fund manager with listings in Australia and the UK, says its acquisition of Gartmore in 2011 boosted income

Resource stocks round-up: Andes Energia, Karelian, Petra

Latin American energy group Andes Energia is proposing to split itself in two, thereby creating two quoted companies, one focused on exploration and production activities and the other on electricity production. In an update on its exploration activities the company said it had succeeded in discov

Sector movers: Land Securities boosts real estate trusts

The real estate investment trust sector is the best performing sector after full-year results from Land Securities. Property giant Land Securities is towering above the rest of the FTSE 100 after it posted a sharp rise in profits and net asset value in the year to 31 March and predicted continued g

Sector movers: Andes Energia, Drax boost electricity stocks

Argentinian energy firm Andes Energia is providing a spark in the electricity sector after profits leapt 450% in 2010, due primarily to the performance of its stake in an electricity distributor. The group recorded a profit before tax of $22m on revenue of $171m for the year. This compared to a pr

Andes quadruples profits

Profits at Argentinian energy firm Andes Energia leapt 450% in 2010, due primarily to the performance of its stake in an electricity distributor. The group recorded a profit before tax of $22m on revenue of $171m for the year. This compared to a profit before tax of $4m on revenue of $139m in 2009.

Andes Energia expands in Argentina

Latin American energy group Andes Energia now has a 34% working interest in the Vega Grande oil and gas project in the Mendoza province, Argentina, following two separate transactions. A 24% interest will be satisfied by the exchange of 10.25m ordinary shares to be issued on 1 April. Additionally,