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LONDON (Alliance News) - Ithaca Energy Inc Tuesday reported higher profits and revenues in the first quarter of its new financial year, driven by a 50% increase in production. The North Sea oil and gas operator reported a pretax profit of USD4.6 million for the three months to March 31, an
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Ithaca Energy's profit after tax in the first quarter surged to 16.4m dollars from 3.5m dollars the prior year as oil production rose. Average production came to 9,222 barrels of oil equivalent per day (boepd) in the three months ended March 31st 2014, up 50% on the same period last year. The comp
Read moreAtkins (WS): Numis upgrades from add to buy with a target price of 1650p. Barclays: Credit Suisse moves target price from 260p to 275p and retains a neutral rating. Brit: Numis initiates with a target price of 290p and a buy recommendation. British Sky Broadcasting: JP Morgan raises target price
Read moreNorth Sea oil and gas explorer Ithaca Energy announced delays and higher costs in building a rig for a North Sea drilling programme, sending its shares down. Ithaca said construction works on its floating production facility (FPF) being built in Poland by Petrofac had taken longer than expected, me
Read moreLONDON (Alliance News) - Oil and gas services company Petrofac Friday issued a profit warning after it said the planned development of the Greater Stella Area oil field in the North Sea would be delayed until next spring, it was hit by low output at a Romanian oil field, and w
Read moreLONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Friday.
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FTSE 100 - WINNERS
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WPP, up 0.5%. Shares in the media buying giant have risen after France-based P
LONDON (Alliance News) - Ithaca Energy Inc Friday said it has been hit by delays at the Greater Stella Area development in the North Sea, moving back production until mid 2015. The oil and gas exploration and development company said the topsides construction programme has advanced more slo
Read moreLONDON (Alliance News) - Two profit warnings and continued worries about Ukraine and Russia have depressed UK share prices at the open Friday.
Both Petrofac and Drax Group issued profit warnings prior to the open. Petrofac is down 15% at the open, w
Associated British Foods: Citi increases target price from 2350p to 3000p, while its neutral rating remains unchanged. Booker Group: Investec shifts target price from 172p to 178p retaining a buy recommendation. BSkyB: HSBC Holdings moves target price from 600p to 610p, while keeping its underweig
Read moreLONDON (Alliance News) - Ithaca Energy Inc Monday said its pretax profit jumped in 2013 as production and revenues more than doubled during the period. The North Sea oil and gas producer said its pretax profit increased 38% to USD40.2 million in 2013 from USD29.2 in 2012, as revenues increa
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The FTSE Small Cap index closes up 0.2 percent, slightly underperforming a 0.4 percent gain on the blue-chip FTSE 100 index and a 0.6 percent gain on the FTSE 250 mid-cap index. The junior-listed FTSE AIM All Share Index ends 0.1 percent lower. Ithaca Energy advances 3.6 percent after
Read moreIthaca Energy's shares advanced after announcing it has discovered oil at an exploration well in the Norwegian North Sea. The 25/5-9 well on the Trell prospect in licence PL102 F/G intersected 19 metres of net pay in excellent quality Heimdal reservoir in the Paleocene Heimdal Formation. Wireline
Read moreLONDON (Alliance News) - Ithaca Energy Inc Friday said excellent quality oil has been found during exploration drilling on a license it will partly own at the Trell Prospect in the Norwegian North Sea. The North Sea oil and gas producer said the operator and 40% owner of the PL102 F/G licen
Read moreLONDON (Alliance News) - Ithaca Energy Inc said Wednesday an exploration well at its Handcross prospect is being plugged and abandoned after failing to find hydrocarbons. Ithaca said the well was drilled to a total measured depth of 10,120 feet into the Tertiary, Vaila Formation, but no hyd
Read moreLONDON (Alliance News) - Shares have opened mostly flat Wednesday, as the market awaits the Bank of England's Quarterly Inflation Report at 1030 GMT.
Telecity is holding back the FTSE 250. The data-centre provider is down 13% after announcing higher 2013 profit and