FTO.L Share News (FTO)

Oil company Aminex is excited about prospects in Tanzania where it has a big drilling programme lined up for 2011, but will need more money to pay for it."In order to fulfil its ambitious 2011 drilling programme, the company is actively working on the several options available to it for securing requisite funding," it said Thursday.Fortune Oil is on the hunt for overseas investment opportunities to capitalize on the demand for energy and resources in China, focusing on oil, gas, coal, iron ore, copper and other metals in countries nearby."Initially, Fortune Oil will form strategic alliances with key market participants to obtain the necessary expertise and trading links with a view to securing its own position in these markets," says the company that raised natural gas volumes by 29% in the third quarter.Leeds-based property developer Town Centre Securities is "very pleased" with the start it's made to the current financial year. "Our performance continues to meet our expectations with the achievement of the anticipated savings in administrative expenses and lower interest cost," the company said.Oil explorer Range Resources soared to a 52-week high after publishing details of an independent assessment of its block VIa and VIb assets in Georgia. Consultancy firm RPS Energy found 68 individual structures, each containing stacked reservoirs. RPS's best estimate of gross undiscovered and unrisked oil-in-place across these identified prospects is 2.05bn barrels, of which 1.025bn are attributable to Range.UTV Media , the Ireland and UK media conglomerate, saw strong revenue growth in its television and British radio operations in the first 10 months of 2010. Revenue at Radio Ireland declined by 2% from the year before on a like for like basis, using constant exchange rates, but outperformed its Irish peers. "The uncertain wider economic conditions and the continued short-term airtime bookings make us cautious in our outlook. Nonetheless, the revenue growth experienced by our Television and Radio GB divisions combined with the out performance of our Radio Ireland business provides encouragement going forward," the company said.Underwriter Chaucer expects premium rate increases of 2.7% this year, with a 17.4% rate rise forecast for the UK division. The group also recommended a final dividend of 2.7p to make a 4p annual total, a level it expects to maintain for 2011.Total gross written premium income for the 9 months to September 2010 was £676.9m, up 4.1% on the equivalent period last year. There was a net investment return of £12.6m for the quarter (0.9% return on average funds), giving £30.3m (2.3%) for the nine months to September.Going forward, Chaucer added it wants to reduce its Combined Ratio by 2%, establish a Global Energy Practice and build a UK motor direct brand with significant aggregator presence. Strategic Natural Resources has received "numerous enquiries from prospective purchasers of Elitheni mine's coal and the company is in advanced discussion with several international traders, power developers and coal brokering companies." The company made a loss of £470,000 during the six months to August, compared with a loss of £137,000 for the comparable six months in 2009. Central African Gold is to seek shareholder approval to cancel its AIM listing and to re-register as a private limited company.