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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: 0.0725
Bid: 0.07
Ask: 0.075
Change: -0.0075 (-9.38%)
Spread: 0.005 (7.143%)
Open: 0.08
High: 0.08
Low: 0.0725
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Small caps round-up: Armor Designs, Borders & Southern, Park Plaza...

Thu, 30th Sep 2010 11:28

Armor Designs, which develops lightweight armor, admits there's "much work to be done" after net losses grew from $6.8m to $7.8m in the first six months of 2010 despite an increase in sales to $577,000."We continue to pursue new capital in order to allow us to move quickly to improve our results and move in the direction of financial stability," it said.Borders & Southern Petroleum is also struggling. The oil and gas group still hasn't managed to hire a rig to drill its Darwin and Stebbing prospects in the South Falkland Basin.There's been huge competition for equipment in the region this year and Borders' targeted window for operations during the fourth quarter of 2010 and first three months of next year has slipped."Consequently we will not be drilling in 2010, but remain optimistic that we will sign a rig for drilling in 2011," it said Thursday alongside news last years interim profit of $1.4m had turned into a loss of $672,000 this time.Hotel owner Park Plaza Hotels grew revenue by 38% to €54.7m in the six months to 30 June, though losses before tax increased from €3.5m to €5.3m.It's seen some signs of improvement since the period-end, but warns that visibility remains low as the trend towards last minute booking continues into the second half. "In light of this, it is still too early to assess whether there is firm evidence of a sustained recovery," said the group. Half-year losses grew to €1.7m from €0.8m in 2009 at San Leon Energy, the oil and gas company with interests in Poland, Ireland, Morocco, Albania, Italy, and the Netherlands.Shares in Bahamas Petroleum advanced after the oil group focused on the waters around the Caribbean country said it was continuing to make advances in its portfolio while seeking targets that could be ready for drilling by 2011.It also posted a pre-tax loss of $2m for the six months to June 30, against a deficit of $545,000.Discovery Metals posted wider losses in the half year to June 30 as it worked on its goal of having the Boseto copper project in Botswana commissioned by the first half of 2012. Pre-tax losses widened to A$4.7m from $4.4m over the same period the previous year. Revenues rose to $763,000 from $553,000. Global Petroleum moved into profit in the half year to June 30 as revenues soared at the Australia-focused oil company. Pre-tax profits totalled $2.3m, against a deficit of $7.2m over the same period the previous year on revenues that rose to $1.2m from $224,000. The company drilled new wells at its Leighton project and brought them into production. It also benefited from finance income.Latin American oil group PetroLatina posted a pre-tax loss of $2.2m in the six months to June 30 against a profit of $99,000 over the same period the previous year despite revenues that rose by 111% to $9.6m due to higher production and better prices.Malaysian palm oil plantation company Asian Plantations expects to harvest more than 20,000 tonnes of fresh fruit bunches (FFB) in 2012, with a target of up to 375,000 tonnes per annum, as all three of its existing fields fully mature.Revenue has started to trickle in, with the company banking $0.1m in the first half of 2010, having registered no revenue in the first half of 2009. Loss before tax soared to $2.0m from $0.08m the year before. Cash and cash equivalents at the end of June stood at $1.74m, down from $4.17m at the end of 2009.Specialist discovery and development pharmaceutical company Immupharma had £20m of cash left after a pre-tax loss of £77.4m in the first half of 2010. That was a sharp turnaround from a pre-tax profit of £13.65m in the first half of last year when the company enjoyed revenue of £21.57m as a result of the Lupuzor licensing agreement, against this year's revenue of just £0.12m. The company's pipeline now includes five drug candidates, including Lupuzor. The next priority programme is IPP-204106 for the treatment of cancer. It has been awarded grants totalling €1.15m by French government organisations. Three other earlier stage programmes are in preclinical development for: inflammatory disorders, moderate to severe pain and serious hospital infections. Bus builder Optare saw turnover slump by 48% in the first half of 2010 to £27.1m from £52.1m the year before, due to a significant reduction in UK market demand. Losses before interest, tax, depreciation and amortisation narrowed to £1.4m, however, from £1.8m.Better times could be just around the corner, however, as the current order book stands at £24.4m, a significant improvement compared to the £8.8m reported at the time of the 2009 interim results.
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25 Jun 2010 13:45

Global Petroleum strikes deal with Tower Resources

Oil company Global Petroleum has signed an agreement with Tower Resources whereby Global will have a continuing option to participate in the Uganda project while having no current obligation to contribute to ongoing expenditure. Global has been granted the right to convert its investment in the pr

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22 Jun 2010 17:03

Mellon adds to Speymill Deutsche stake

Speymill Deutsche Immobilien Property Company non-executive director Jim Mellon has been buying shares in the AIM-quoted property investment company just after it has agreed to take over the management of its own property portfolio. Mellon bought 5m shares at €0.05772 a share and 2m shares at €0.06

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10 Jun 2010 16:49

Wellstream boss cuts stake

Gordon Chapman, chief executive of oil services firm Wellstream, has raised £753,000 from the sale of a total of 150,000 shares. The shares were sold at 518p, 496p and 500p - the majority were sold at the latter price. This is well above the April 2007 flotation price of 320p a share but well belo

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9 Jun 2010 16:37

Titan chief wheels out share purchases

Titan Europe chief executive Mike Akers has added a total of 200,000 shares to his shareholding in the agricultural and construction vehicle wheels manufacturer following yesterday's trading update. AIM-quoted Titan said that its strong order book meant that it would perform ahead of budget in 201

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7 May 2010 11:45

New Kingfisher exec swoops for shares

Andrew Bonfield, who was appointed to the board of Kingfisher in February, has opened his account with the home improvement retail group. The non-executive director bought 10,000 shares at 245.15p a time in the B&Q owner, paying a total of £24,515. Bonfield was the chief financial officer of Cadbu

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20 Apr 2010 17:11

London close:Equities advance on broad front

London brought its two day losing streak to an end today, despite a mixed reception to the day's major company announcements and a disappointing set of inflation figures. A sharp rise in fuel costs was responsible for much of the acceleration in the inflation rate, which climbed to 3.4% from 3% in

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20 Apr 2010 14:13

London afternoon: Tesco heads small band of fallers

The blue-chip index shuffled sideways over the lunch time session with not even expectations of a firm opening on Wall Street encouraging buyers to commit further. Earlier in the day sentiment had received a knock from worse than expected inflation data. A sharp rise in fuel costs was responsible f

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20 Apr 2010 08:45

Small caps round-up: Baobab Resources, Idatech, Bango...

Shares in Baobab Resources jumped after the Mozambique-focused metals explorer said it intersected 'significant widths' of magnetite-ilmenite mineralisation at the Chimbala prospect in the Tete region of the country. Fuel cell system firm IdaTech expects revenues for 2010 to be lower than expectati

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8 Apr 2010 08:50

Small caps round-up: Strategic Thought, Tricorn, Oxford Instruments ...

Shares in provider Strategic Thought, which provides risk management software to large organisations such as the miner Rio Tinto and the London Underground, fell after it said results will fall short of expectations as a result of slippage in two major contracts. It expects revenues for the year to

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24 Feb 2010 09:44

Small caps round-up: Tower Resources, Global Petroleum, Norseman Gold

Shares in Global Petroleum and Tower Resources slumped after the companies reported that the Avivi-1 well in Uganda had reached its total depth without showing any oil. Avivi-1 is owned by Tower, while Global has an option to earn a 25% interest in the licence, by funding 25% of the costs. 'Electr

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19 Jan 2010 16:50

Aberdeen directors fund tax bill

Fund manager Aberdeen Asset Management's three executive directors have all sold shares awarded under the deferred share award plan in order to finance their tax bill relating to the award. Chief executive Martin Gilbert raised £416,370 by selling shares at 132p each. Finance director Bill Rattray

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20 Oct 2009 16:50

London close: Footsie slips back

There was no shortage of company news to give Footsie direction but it was the release of housing data in the US that ultimately dragged the leading share index into the red. Housing starts increased to a seasonally-adjusted annual rate of 590,000 last month, up 0.5% above a revised 587,000 in Oct

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20 Oct 2009 14:19

London afternoon: Footsie pulled both ways

Footsie is struggling to find any sense of direction despite some big movements in individual companies' share prices. Fast growing software company Autonomy is finding the market hard to please. Despite another spell of strong organic growth in the third quarter, the shares are the worst performer

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20 Oct 2009 12:04

London midday: Banks drag Footsie down

Footsie made a valiant effort to finish the morning in the blue but came up just short, thanks largely to the weakness of financial stocks. Barclays is sharply lower, after Qatar's sovereign wealth fund said it was selling half of the warrants it holds in the bank. Qatar Holding is selling 379.22

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