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Pin to quick picksGlobal Petroleum Share News (GBP)

Share Price Information for Global Petroleum (GBP)

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Share Price: 0.065
Bid: 0.06
Ask: 0.07
Change: -0.0075 (-10.34%)
Spread: 0.01 (16.667%)
Open: 0.0725
High: 0.0725
Low: 0.065
Prev. Close: 0.0725
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Small caps round-up: Abbeycrest, City of London Investment, Impax...

Mon, 25th Oct 2010 17:26

Jewellery maker Abbeycrest has swung to a pre-tax loss of £0.46m for the half year from a pre-tax profit of £1.26m last year.For the six months ended 31 August 2010, group revenue increased by 5% to £18.8m from £17.9m previously. However, this was largely due to the effect of the rising gold price."The average gold price for the period was £788 per ounce, compared to £596 over the equivalent period in 2009. Restating 2010 revenue at 2009 prices would reveal a like-for-like decline of around 10% in the first half year", the group said.Funds under management for City of London Investment increased by 30% to $5.68bn at 21st October, compared with the year end figure of $4.38bn at 31st May. The trading update said that this increase was "driven by the net change in client monies managed together with good investment performance."Shares in Global Petroleum jumped 10% Monday following a drilling update that revealed strong oil and gas shows at the Eagle Ford well. The well will be production tested with results anticipated in the second half of November.Impax Asset Management posted a positive trading update revealing strong overall trading. Shares in the environmental investment manager rose 7% today as the group announced they expected revenues for the year to be comfortably ahead of last year and in line with market expectations, while profitability for fiscal year 2010 to be ahead of consensus.Assets under management and advisory increased 45% from £1.26m to £1.82m. Chief executive Ian Simm said "I believe that our success reported today demonstrates further the attractions of Impax's scalable business model and indicates that we are well positioned for continued growth."Shares in Xcite Energy rose an impressive 23% Monday after the oil company reached target depth for the first part of its planned work programme on the Bentley field in the North Sea.The update reveals that operations have significantly increased the "volume of oil in place".Shares in Beowulf Mining were wanted after the group announced that drilling has commenced on the Kallak South Iron Ore deposit in northern Sweden, in which the board believes there is "considerable potential". The miners also revealed that a letter of intent has been signed for a planned drilling campaign at the company's Ruoutevare project early next year.Australian and South East Asia regional airline Skywest plans to increase the size of jets using the Geraldton regional airport from 50 to 100-seater as early as January 2011. "The Melbourne connection will also see a substantial new market get direct access to Australia's Coral Coast region using Geraldton as the primary hub and regional capital," said local councillor Ian Carpenter.Miner Goldplat's latest drilling programme at the Nyieme Project in Burkina Faso has revealed five holes that returned gold grades in excess of 4 grammes per tonne and one as high as 19.1 g/t."These excellent results reinforce the prospectivity of the Nyieme project, with drilling intersecting high grade quartz veins and confirming the potential of the target structure," said boss Demetri Manolis. "We have identified additional targets on the project and we are now designing the next stage of exploration and will announce this programme as soon as possible."
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11 Sep 2013 12:26

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

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11 Jun 2013 10:05

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

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28 May 2013 13:51

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

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28 May 2013 08:59

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

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28 May 2013 07:25

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

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13 May 2013 16:27

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

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14 Mar 2013 14:29

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

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14 Jan 2013 08:04

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

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10 Sep 2012 14:21

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

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23 Jul 2012 13:09

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

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11 May 2012 16:34

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

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3 May 2012 15:20

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

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30 Apr 2012 10:32

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

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15 Mar 2012 12:59

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

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8 Mar 2012 08:31

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

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