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Pin to quick picksLansdowne Oil Share News (LOGP)

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UK WINNERS & LOSERS: Centrica Shares Tumble On Dividend Cut, Warning

Thu, 19th Feb 2015 11:26

LONDON (Alliance News) - The following stocks are amongst the biggest risers and fallers within the main London indices midday Thursday.
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FTSE 100 WINNERS
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British Land Co, up 1.6%. Societe Generale raised the company to Buy from Hold late Wednesday.

Sports Direct International, up 1.4%. The UK's biggest sporting goods retailer by revenue reported a 2.6% rise in group sales for the third quarter, and a 7.6% increase in gross profit. The company said it is "very confident" of achieving its full-year internal underlying earnings before interest, taxes, depreciation and amortisation target of GBP360 million. That would exclude charges for its Employee Bonus Share Schemes, it said.
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FTSE 100 LOSERS
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Centrica, down 8.9%. The British Gas owner reduced its dividend for the full year after swinging to a loss in 2014 on the back of a significant impairment charge, and said it will reduce its costs and capital expenditure budget over the next two years in response to the low oil price. Centrica also said that further reductions in wholesale oil and gas prices in December will mean that the company "needs to plan on the basis that lower wholesale prices will persist for all of 2015 and potentially through 2016 and into 2017," which means cashflow from its energy business will be impacted.

Tullow Oil, down 2.9%, Weir Group, down 2.4%, BG Group, down 2.1%, Royal Dutch Shell 'A', down 1.5%, and BP, down 1.2%. The oil related stocks are down after Brent oil slipped below the USD60 a barrel mark. Brent is currently quoted at USD59.39 a barrel.

AstraZeneca, down 1.7%, GlaxoSmithKline, down 1.6%. The two pharmaceutical giants trade down after going ex-dividend, meaning new buyers no longer qualify for the latest dividend payouts.
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FTSE 250 WINNERS
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Petra Diamonds, up 4.6%. The company said it will pay a maiden dividend of 2.0 pence per share at the end of its financial year after reporting a rise in earnings and profit during the first half, and said revenue and production will increase during the second half. For the six months ended December 31, the company reported a rise in earnings before interest, tax, depreciation and amortization of USD84.9 million from USD69.4 million a year earlier after revenue increased, it said.

Rexam, up 4.4%. The British drinks can maker said it has reach a deal on the terms of a takeover offer from US rival Ball Corp, in a cash and share deal valuing Rexam at around GBP4.3 billion. Under the terms of the takeover offer, for each Rexam share, Rexam shareholders will receive 407 pence in cash and 0.04568 new Ball shares. Ball said that based on its closing share price of USD74.39 on Tuesday, and the currency exchange rates at the time of the formal offer, the takeover offer represents an indicative value of 628 pence per Rexam share, well above its current share price.

Man Group, up 1.8%. The fund manager has been upgraded by Goldman Sachs to Conviction Buy from Neutral.
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FTSE 250 LOSERS
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Catlin Group, down 3.8%. The specialty insurance company has gone ex-dividend.

Rathbone Brothers, down 1.5%. The investment manager said it is wary of the potential for political and economic uncertainty at home and abroad to hurt the markets, but is keeping a close eye on opportunities to further grow the business. A challenging year did not stop the company from reporting an increase in funds under management and pretax profit in 2014, even with heightened volatility in the second half. The company raised its total dividend for 2014 to 52 pence from 49 pence for 2013.
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AIM ALL-SHARE WINNERS
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Europa Oil & Gas (Holdings), up 19%. The companies involved in the Wressle-1 well on the PEDL180 license in the UK said they have received "encouraging results" from the flow tests being carried out on the Wingfield flags reservoir, and said they will start a production test afterwards. Europa Oil & Gas has a 33.3% interest.

EU Supply, up 15%. The software-as-a-service provider said its partner, Global eSourcing, has won a seven-year service provider deal with the Norwegian Refugee Council and will roll-out its CTM platform in six countries by the end of July as part of the deal. The company said it expects to gradually roll-out its CTM platform across the Norwegian Refugee Council's regions over the next 12 months, and expects full adoption by mid-2016, generating revenue of up to GBP250,000 per year.

Lansdowne Oil & Gas, up 14%. The company said the Irish government has given its consent to the company's November farm-in agreement with PSE Kinsale Energy Ltd. Through the 80% interest and as the operator of SEL 4/07 offshore Ireland, Kinsale Energy will fund all of the costs of drilling a well on the Midleton prospect, Lansdowne said.

Bacanora Minerals, up 7.7%. Rare Earth Minerals said it has increased its stake in fellow London-listed Bacanora Minerals to 14.37% from 13.3%, through further market purchases of GBP547,860. Rare Earth shares were up 1.3%.
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AIM ALL-SHARE LOSERS
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Jupiter Energy, off 31%. The company said it will cease all of its production at the beginning of March in response to lower oil prices, and said it will restructure the company to reduce costs until it recommences production. Jupiter's only asset, Block 9 on the Mangistau Basin in south west Kazakhstan, will cease production on March 1, after the company said oil production has become "uneconomic" following the decline of the oil price since the middle of 2014.

Caza Oil & Gas, down 16%. The company said it has secured a USD5 million facility under a convertible unsecured note agreement with YA Global Master SPV Ltd. Caza said it has obtained a USD4 million loan as an initial tranche of a USD5 million facility from YA Global, and said it has immediately drawn down USD1 million of the initial tranche, with the expectation of drawing down USD3 million in the next month, it said.
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By Neil Thakrar; neilthakrar@alliancenews.com; @NeilThakrar1

Copyright 2015 Alliance News Limited. All Rights Reserved.

More News
8 Mar 2024 14:42

IN BRIEF: Lansdowne Oil & Gas shares up on ECT claim update

Lansdowne Oil & Gas - Exploration company with licences in the Irish offshore shelf areas - Says that shareholder will receive an economic benefit relating to their shareholder if the company is successful in its ongoing claim against the Irish government, following its refusal to grant the company a lease undertaking for the Barryoe gas field. In May, the company was informed by the Irish environmental department that the Barryroe lease undertaking would not be granted, after the company had invested USD20 million in the project. Lansdowne is pursuing a claim against the country through the Energy Charter Treaty, an international agreement permitting companies to sue national governments. Lansdowne says that the benefit will be taken from the net proceeds of the ECT claim, after legal and ancillary cost deductions, but notes that there is no guarantee of success.

Read more
26 Feb 2024 14:25

IN BRIEF: Lansdowne appoints lawyers in case against Irish government

Lansdowne Oil & Gas - Oil and gas company focused on licences in the North Celtic Sea - Appoints Mantle Law to lead the company's litigation against the Irish government following its refusal to award Lansdowne a lease undertaking for the Barryoe gas field. In May, the company was informed by the Irish Department of the Environment, Climate & Communications that the Barryroe lease undertaking would not be granted. Lansdowne had invested USD20 million in the project, and is now pursuing a claim against the country through the Energy Charter Treaty, an international agreement permitting companies to sue national governments. Mantle Law has offices in London and Abu Dhabi, and its team consists of "the best dispute and arbitration lawyers in the construction, infrastructure and energy sectors", according to Lansdowne.

Read more
8 Jan 2024 13:54

IN BRIEF: Lansdowne Oil & Gas says claim against Ireland continues

Lansdowne Oil & Gas PLC - North Celtic Sea-focused oil and gas company - Says focus is on progressing its Energy Charter Treaty claim against Ireland following the refusal to award a lease undertaking for the Barryroe oil and gas field, as it believes that an alternative pathway, allowing the development of Barryroe, would deliver greater energy security at lower cost and with lower associated emissions.

Read more
22 Dec 2023 15:50

UK shareholder meetings calendar - next 7 days

Monday 25 December 
no events scheduled 
Tuesday 26 December 
no events scheduled 
Wednesday 27 December 
Tremor International LtdAGM
Thursday 28 December 
ADVFN PLCAGM
Altona Rare Earths PLCAGM
Beximco Pharmaceuticals LtdAGM
Global Petroleum LtdAGM
Visum Technologies PLCAGM
Friday 29 December 
Apollon Formularies PLCAGM
Eco Atlantic Oil & Gas LtdAGM
Genedrive PLCAGM
Goldplat PLCAGM
Lansdowne Oil & Gas PLCGM re capital raise
Marula Mining PLCAGM
Microsaic Systems PLCGM re fundraise
Online Blockchain PLCAGM
Secure Property Development & Investment PLCAGM
SkinBioTherapeutics PLCAGM
Tetragon Financial Group LtdAGM
Woodbois LtdAGM
Zambeef Products PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved. 

Read more
7 Dec 2023 14:26

IN BRIEF: Lansdowne Oil & Gas launches new share placing

Lansdowne Oil & Gas PLC - North Celtic Sea-focused oil and gas company - Places 40.0 million firm shares and 160.0 million conditional shares at 0.1 pence each, to raise GBP200,000. Placing of conditional shares depends on passing "certain resolutions" at upcoming general meeting on December 29. Company will use proceeds to meet expected working capital requirements through to the end of June 2024. It was designated an AIM Rule 15 cash shell on September 20, and must achieve a reverse takeover by March 20.

Read more
28 Sep 2023 14:24

EARNINGS: Dar Global profit multiplies, Hemogenyx loss widens

(Alliance News) - The following is a round-up of earnings updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

Read more
20 Sep 2023 14:37

TRADING UPDATES: Capital inks contract; Lansdowne becomes cash shell

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

Read more
19 Sep 2023 17:26

TRADING UPDATES: Tekcapital's portfolio company seals joint venture

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

Read more
18 Aug 2023 15:27

Lansdowne Oil & Gas risks becoming cash shell by mid-September

(Alliance News) - Lansdowne Oil & Gas PLC on Friday provided an update on the arbitration process regarding the Barryroe lease undertaking application, saying if a decision is not awarded soon it could become a cash shell.

Read more
2 Aug 2023 15:47

UK shareholder meetings calendar - next 7 days

Thursday 3 August 
Caffyns PLCAGM
Distil PLCAGM
Edenville Energy PLCAGM
Future PLCGM re authorising the company to buy back up to 10% of shares
Investec PLC and LtdAGM
Landore Resources LtdEGM re dual-listing in Canada
Ukrproduct Group LtdAGM
Friday 4 August 
East Imperial PLCGM re issue of 2025 convertible loan notes
Myanmar Investments International LtdAGM
Network International Holdings PLCGM and court meeting re takeover by Brookfield Asset Management Ltd
Telecom Plus PLCAGM
Monday 7 August 
Milton Capital PLCAGM
Revolution Beauty Group PLCGM re current directors removal
Tuesday 8 August 
APQ Global LtdAGM
Custodian Property Income REIT PLCAGM
Wednesday 9 August 
Braemar PLCAGM
CML Microsystems PLCAGM
D4t4 Solutions PLCAGM
daVictus PLCAGM
Foresight Group Holdings LtdAGM
Lansdowne Oil & Gas PLCAGM
Mountview Estates PLCAGM
Scirocco Energy PLCAGM
Tatton Asset Management PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
20 Jul 2023 13:32

Lansdowne Oil & Gas raises GBP200,000 for short term funding

(Alliance News) - Lansdowne Oil & Gas PLC on Thursday said it has raised GBP200,000 through a placing of 200.0 million new shares at 0.1 pence each.

Read more
30 Jun 2023 15:59

TRADING UPDATES: BWP confident in Bridgewater; MediaZest in loss swing

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

Read more
28 Jun 2023 18:37

TRADING UPDATES: Lansdowne Oil & Gas seeks talks over Barryroe dispute

(Alliance News) - The following is a round-up of updates by London-listed companies, issued Wednesday and not separately reported by Alliance News:

Read more
19 Jun 2023 14:21

Barryroe Offshore Energy plans to wind down business; shares suspended

(Alliance News) - Barryroe Offshore Energy PLC shares were suspended on Monday, after it said it intends to wind down the company through a creditors voluntary liquidation.

Read more
8 Jun 2023 19:12

REPEAT: Barryroe Offshore warns three weeks of working capital left

(Alliance News) - Barryroe Offshore Energy PLC on Thursday said it has EUR176,000 left in its coffers, which amounts to about three weeks of working capital.

Read more

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