Global Petroleum Share News (GBP)

Wessex Exploration To Take Reduced Stake In New Permit For Territory Off Madagascar

Global Petroleum's Eagle Ford shale sale agreement completed

AIM-listed oil and gas exploration company Global Petroleum, has reported that the sale of its Eagle Ford Shale assets, has now completed. Through its wholly-owned subsidiary GP Exploration, Global Petroleum said that it had entered into a purchase and sale agreement with Millennial PDP Fund II

Global Petroleum poised to sell Eagle Ford Shale interests

Global Petroleum, the AIM-listed oil and gas exploration company focused on emerging plays in Africa, has reached an agreement with a private company to sell its Eagle Ford Shale(EFS) interests in Texas, USA. Earlier in the year, Global Petroleum appointed Dallas-based Moyes & Co to market its EFS

Global Petroleum sells interest in Eagle Ford Shale

Global Petroleum has reached a deal with Millennial PDP Fund II to sell its interest in the Eagle Ford Shale oil and gas development in Texas. The fund, a wholly owned subsidiary of Millennial Energy, will buy the stake for a cash consideration of $0.51m. The agreement comes after Global appointe

Tuesday broker round-up UPDATE

AG Barr: Investec increases target price from 562p to 591p, while downgrading from buy to add. Canaccord Genuity downgrades to hold with a target price of 570p. Amara Mining: Cantor Fitzgerald cuts target price from 81p to 63p and retains a buy recommendation. Compass Group: Nomura ups target pric

Deputy Chairman at Weir Group buys first stake

Weir Group's new Deputy Chairman, Charles Berry, has begun building his stake in the company just two weeks into his new role. Berry, who joined the company at the beginning of the month, purchased 2,000 shares at 2,384.93p each for a total of £47,699. On the same day Berry took up the role, the

Global Petroleum records rise in half-year profits

Global Petroleum posted a jump in half-year pre-tax profits Thursday as oil production activities accelerated. Consolidated group profit before tax for the last six months of 2012 came to $224,976, up 1.0% from $222,695 a year earlier. Strong operational performance from the company's two Eagle Fo

Global Petroleum opens data room for prospective partners

Oil and gas exploration company Global Petroleum has opened a data room for selected prospective partners interested in its stake in its Namibian License. The news comes several months after Global announced its intention to farm down its 85% interest in the Namibian license ahead of further explor

Broker snap: Optimism fades after Chariot abandons another well

The news that Chariot Oil and Gas's Kabeljou exploration well was plugged and abandoned as a dry hole prompted most brokers on Monday to either downgrade or put their ratings for the stock under review and significantly reduce their target prices. The Africa-focused oil and gas firm said that the w

Resources round-up: Global Petroleum, Ariana, Edge Resources

AIM-listed oil and gas group Global Petroleum has finally completed the delayed interpretation of 2D seismic data in Petroleum Exploration Licence 29, offshore Namibia - in which it owns an 85 per cent interest - meaning that it can now concentrate on finding a suitable partner for the next phases o

XP Power Chairman buys up 4,000 shares

Larry Tracey, the Chairman of power controller manufacturer XP Power, treated himself to 4,000 shares in the company, despite the company last month warning that the global economic environment remains weak for the equipment which they manufacture. Tracey, who joined XP's board 22 years ago, bought

Lamprell director sells another load of shares

Scott Doak, the Integration and Development Director of Lamprell, the FTSE 250 oil and gas engineering firm, has once again diminished his stake in the firm, this time selling 200,000 shares. The sale, which follows his decision to drop 21,679 the previous week, was made in the same week the compa

Resource stocks round-up: ZincOx, Cadogan, Afferro...

ZincOx Resources says the initial production test at its Korean recycling plant saw production ramped up to 50% of capacity and produced zinc concentrate and direct reduced iron. The operation of the final piece of equipment, the hot briquetting machine, will occur during the next test run. While o

Resources round-up: Forte Energy, Ferrum, Gold Oil...

Forte Energy, a uranium company, has announced positive assay result from the final seven holes from the recent reverse circulation drilling programme completed at the A238 Prospect in Mauritania. The assay results from the programme have confirmed the mineral resource extension at a depth below t

Resources round-up: Global Petroleum, Trapoil, San Leon...

Trapoil, the North Sea gas and oil explorer, has reported that operations have begun on the Orchid exploration prospect, where it has a 15% interest. This marks the start of the firm's 2012 exploration programme, which it is currently intended will include the drilling of up to a total of seven well