Global Petroleum Share News (GBP)

Aviation group Air Partner says that trading has remained positive in the six months to date and the interim results are likely to be ahead of expectations, partly attributable to the strong performance in its commercial jet broking division.While the group says it is well positioned to increase profitability in the full year, it notes that "as always, forward visibility in the air charter industry remains limited," due to the short term nature for the ad hoc market.The 18.7m carats of gemstones Gemfields produced in its first half exceeded the entire prior year's production of 17.4m carats, as a result of the continuing increase in demand primarily from within Asia and India. Unit production costs during the second quarter were $0.56 per carat, lower than the historic average of $0.64 per carat. The company owns 75% of the Kagem mine in Zambia (its only operating emerald mine), the single largest emerald mine in the world. "Kagem has delivered a phenomenal quarter in terms of sales and enjoyed another robust production quarter," said chief executive officer Ian Harebottle.After-sales product support services firm Regenersis has been able to extend its eight-year relationship with device insurer CPP by renewing a two-year contract valued at over £15m. Under the contract, Regenersis will provide customers with a repair or replacement of mobile phones or laptops, and offer call centre support for the various insurance schemes.Kazakhstan-based cement manufacturer Steppe Cement says revenue grew by 23% to KZT10.74bn (around £46m) in 2010, as sales volumes increased by 24% to 1.57m tonnes. The group's market share grew from 18.4% to 20.3% over the 12-month period, in an expanding Kazakhstani market which reached 5.7m tonnes (+14% over 2010).Coal of Africa said seasonal rainfall reduced production at its Woestalleen mines in the final quarter of 2010, but production at the Mooiplaats thermal coal project increased slightly. Further development work and the commissioning of an additional section is expected to result in a steady rise in production. The company said its cash balance at the end of 2010 was A$23m.Global Petroleum is to issue 25m of its ordinary shares to the owners of Jupiter Petroleum in order to acquire the company. Jupiter holds prospective oil and gas exploration interests in offshore Namibia and in offshore Juan de Nova, a French dependency in the Mozambique Channel. In a separate announcement, Global said the combined average daily production of the seven wells it has an interest in on the Leighton project in Texas, USA, totalled a gross 421 barrels of oil equivalent per day (boepd) in the final quarter of 2010. Global's beneficial interest was 47 boepd.Best of the Best, which runs competitions to win luxury cars in airport terminals, made a profit of £168,000 from continuing businesses in the six months ended 31 October, down from £264,000 the year before.The company is still focusing on restructuring the business after BAA, the largest shareholder and landlord, terminated the firm's contracts. Revenue from continuing operations fell to £2.41m from £2.64m."Despite the unfortunate events of the past few months, the directors are taking the steps necessary to reshape the business, and create a stable platform from which to rebuild and grow new revenues," boss William Hindmarch said Monday. Staffing group Empresaria traded in line with upwardly revised expectations during 2010 and says results for the year ending 31 December 2011 will be ahead of current market expectations.Revenue for 2010 rose 17% to £223m following a 14% increase in the second half to £115m.Shares in domestic gas producer IGas Energy rose after it announced it plans to acquire the UK subsidiary of Canada-based energy group Nexen. The purchase of Nexen Petroleum UK would increase IGas' contingent recoverable resource by 115% to 1,736 billion of standard cubic feet of gas (bcf), and its current production would almost triple.While no financial information was provided in the statement, the group said Nexen would receive IGas shares equivalent to 29.9% of the issued share capital. Chief executive officer of IGas Andrew Austin said "As a result of this deal we will have enough recoverable gas to supply electricity to 15% of UK homes for 15 years."