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In a research note issued this morning analysts at Merchant Securities initiate coverage of Falklands Oil and Gas with a buy recommendation and a 400p price target. For them this company, "holds the best exploration acreage in the Falkland Islands because its prospects are larger than elsewhere, y
Read moreTesco's travails in its core British market will be exposed for all to see this week, with the group's full-year results expected to show dismal trading in the UK. The call from many quarters is that Tesco must get back to basics and sort out Britain at all costs - and pull back from its difficult A
Read moreFalkland Oil and Gas (FOGL) says it has more than enough cash to fund its planned expenditure for 2012, even if it does not find a partner to take a share of its assets and planned expenditure. The explorer, focused on licence areas to the South and East of the Falkland Islands, said it had around
Read moreFalkland Oil and Gas (FOGL) has signed an option agreement which could help pay for a quarter of its drilling programme during 2012. The farm-out, with an unnamed third party, would also pay £17m towards the £68m costs incurred during 2011 in preparation for drilling. An initial fee of $6m has be
Read moreCredit Suisse believes that a major restructuring within the businesses of miner Vedanta Resources would be a "strong positive" and continues to see significant upside in the stock. Credit Suisse said that "if the reports are correct and a merger is successful it would not change group consolidate
Read moreMerchant Securities has highlighted potential for sector peers of Cove Energy after Royal Dutch Shell launched a bid for the AIM-listed oil and gas producer this morning. Shares in AIM-listed Cove Energy jumped after Anglo-Dutch integrated oil company Shell launched a bid of 195p per share. The dea
Read more- Shell makes near-£1bn bid for Cove Energy. - Markets digest Greek bailout, China data. - Ex-div stocks provide a drag. The FTSE 100 slipped slightly into the red in the opening hour on Wednesday as investors continue to digest the Greek bailout approved on Monday night. Meanwhile, Chinese manufac
Read moreMarkets turned south in afternoon trade on rumours of imminent action by ratings agency Standard & Poor's (S&P) to downgrade the ratings of several Eurozone countries. A senior Eurozone government official has been cited as saying that both France and Austria could have their ratings downgraded by
Read moreThe Footsie's earlier gains were pared by lunchtime as US stock futures slipped ahead of key earnings report from JP Morgan Chase & Co and the University of Michigan Consumer Sentiment Index. Italy issued €4.75bn in medium-term debt, the top of its €3-4.75bn target range. The borrowing costs of Ju
Read moreFalkland Oil and Gas (FOGL), one of the firms hoping to discover substantial oil resources around the Falkland Islands, saw its share price sink after placing shares at a steep discount. The company has raised £48.5m through the placing of 112.8m shares at 43p per share, more than 7p below the mid-
Read moreFalkland Oil and Gas (FOGL) saw its share price drop after reporting that the feasibility of drilling a second well at the Scotia prospect is dependent on securing additional funding. The firm, an exploration company focused on the south and east of the Falkland Islands, said the priority of the Sc
Read moreFalkland Oil and Gas Limited (FOGL) is to raise £32m through a placing of shares at 70p each, with the money earmarked for the oil and gas exploration company's 2012 drilling programme. The shares are being placed at a 14% discount to the closing mid-market share price on the day before the announc
Read moreMining giant BHP Billiton is to bail out of the Falklands oil game and sell its interests in the area to its joint venture partner Falkland Oil and Gas (FOGL), though it is retaining the right to buy back in if FOGL strikes it lucky. FOGL will buy up BHP's 51% stake in the Northern licence area and
Read moreDiagnostics company Axis-Shield turned over more than £100m for the first time last year and has paid a maiden dividend. Revenue rose 5% to £101.7m in 2010, though underlying profit fell from £8.1m to £7.1m. Profit, including £3.1m of currency and disposal gain in 2009 dropped from £11m to £7.5m.
Read moreBP was in the driving seat, helping Footsie to good gains as the oil giant's shares rallied on the back of bid talk and hopes that the beginning of the end of the Gulf of Mexico oil leak is in sight. BP said the cost of the clean-up in the Gulf of Mexico has risen to $3.5bn from $3.12bn a week ago
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