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Penny stock Matra Petroleum was in demand Thursday morning as the Russia-focused oil and gas explorer and producer announced the award of a production licence. The production licence for the Sokolovskoe Field has been awarded to "OOO" Arkhangelovskoe, a wholly-owned subsidiary of Matra Petroleum.
Read moreEuropa Oil & Gas has packed up its things at the Barchiz-1 oil discovery in Romania after finding the lower part of an oil column with some mud and water. Mountain winter conditions have also convinced the explorer to stop work and come back in the spring when it may try a full flow test of the wel
Read moreIt was downhill almost all the way for Footsie in the afternoon session after the US opened sharply lower, with miners getting a real bashing on the prospect of a slow-down in the Chinese economy. No less an authority than star fund manager Anthony Bolton raised the prospect today, in the first set
Read moreAZ Electronics, a recent IPO, saw strong sales in the second half of the financial year, with revenue for the four months ended October at $232.6m (2009: $188.3m). Profits dipped slightly at paper maker James Cropper in the half-year to September as the speciality posted a loss as after pulp prices
Read moreFootsie turned down in the afternoon session despite better than expected US jobs and retail sales figures. US shares did not respond to the economic data and by midday the Dow was showing strongly red. In Europe, interest rates were left on hold by both the Bank of England and European Central ba
Read moreBetter than expected US jobless figures have given the UK market a lift, with the Footsie now knocking on the door of 5700. Mining stocks are, by and large, still refusing the join the party. Copper miners Kazakhmys and Antofagasta lead the sector lower. Indian miner Vedanta is holding up though
Read moreLONDON (Dow Jones)--Matra Petroleum PLC (MTA.LN) said Monday that a work-over and completions rig has been mobilized to well-12 to begin investigative work to identify and then isolate the source of water production. MAIN FACTS: -The relevant local authority has approved the work on the well
Read moreSocial housing group Mears will repeat last month's interim management statement at its AGM today, highlighting continued strong trading across the business. "Mears is well positioned to benefit from an active contract bidding market and remains confident in the prospects for the future growth of t
Read moreLONDON (Dow Jones)--Matra Petroleum PLC (MTA.LN) said Wednesday that data acquisition for well-13 on the Sokolovskoe field, in the Orenburg region, Russia is now complete and the production casing has been run and cemented and the company expects production to start in August. MAIN FACTS: -T
Read moreLosses at Matra Petroleum in 2009 reduced to €2.3m from €8.7m. Results of the A-13 well are expected in May and these will help us define the extent of the Sokolovskoe development. Operational difficulties have caused minor increases in the expected well costs from $4.5m to $4.85m, the company rem
Read moreMatra Petroleum won't receive results from appraisal well-13 on the Sokolovskoye field in Russia for about 100 days as drilling remains suspended. Work ground to a halt last month due to the technical difficulties at a depth of 738 metres. Matra wanted to regain control of the well so it could dril
Read moreNon-executive director Craig Burton has sold 3m shares in Matra Petroleum at an average price of 4.16p a share but he still holds 45.2m shares - 4.53% of the Russia-focused oil and gas explorer. This follows last Friday's disposal of 18m shares by Macquarie Bank, which retains a 11.02% stake in Ma
Read moreCCTV supplier Quadnetics said as anticipated trading in the second half year was substantially stronger than the first half. The group said underlying results for the full year will be in line with current market expectations. Year end cash balances were ahead of expectations. Innovation Group, w
Read moreShares in InterCytex plunged after the regenerative medicine firm said ongoing discussions relating to offers to acquire certain parts of the business are not expected to result in an offer for the whole business. Logistics software firm K3 Business Technology said it has traded in line with expec
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