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Volgas gas rises 3% following trading update

Fri, 17th Jun 2011 11:56

The Russia based oil and gas exploration and production group Volgas gas has today provided an update on current activities. First of all, the acquisition of the Dobrinskoye gas field and plant was completed during April 2011 and began contributing to revenues as of 1 April 2011.Secondly, it points out, total production in May 2011 averaged 3,485 boepd, providing revenues of US$3.9m for the month. At its Uzenskoye field average production for the year to the 31 May 2011 was reduced to 1,109 bopd, due to weather conditions, whereas in May its average production reached 1,329 bopd. A new well, Uzen #11, is expected to be drilled and completed later in 2011 or early 2012.Thirdly, the company calls attention to the fact that test production continues at its Vostochny Makarovskoye field and that the wells are to be connected to the gas plant during the summer of 2011.Lastly, the outfit has indicated that at 31 May 2011 the Company had US$14.4m in cash and debt of US$9.0m. According to the firm's executives, "The inclusion of the Dobrinskoye field and the rising revenues from Uzenskoye oil sales has significantly increased the Group's net operating cash generation."As of 14:02PM shares of Volgas are rising by 2.6%, to 129.5p, in London trading. AB
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10 Oct 2013 13:56

DIRECTOR DEALINGS: Volga Gas Director Sells Shares

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18 Sep 2013 16:17

Domino Printing Finance Director sells as company cautions on regional difficulties

The Group Finance Director of Domino Printing sold 72,763 pounds-worth of shares on Tuesday, the same day the company warned investors that market conditions continued to be 'difficult' in many regions. Andrew Herbert, who joined the company in 1986, disposed of a total of 11,160 shares at 652p a

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18 Sep 2013 11:24

DIRECTOR DEALINGS: Volga Gas Directors In 100,000 Share Off-Market Transfer

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17 Sep 2013 08:57

Volga Gas Swings To Profit On Increased Sales, Lower Exploration Costs

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6 Dec 2012 13:14

Volga Gas releases independent assessment of oil and gas reserves

Oil and gas production group Volga Gas has completed an independent evaluation of the its oil, gas and condensate reserves by Miller and Lents. The independent assessment focused on the reserves and net present value of future net revenue attributable to the Company's three principal fields in Russ

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18 Sep 2012 12:53

Volga Gas says increased production is 'imminent'

Shares Volga Gas, the oil and gas exploration and production group operating in the Volga Region of Russia, rose on the promise of significantly higher production when it puts the Vostochny Makarovskoye (VM) field into full-time production. Three of the wells on the field are ready to begin full-t

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2 Dec 2011 14:58

Legal & General vice chairman stocks up

Legal & General's vice chairman and senior indepedent director Henry Staunton purchased over £10,000-worth of shares, one month after the firm reported a slight drop in sales. Staunton, who was appointed to the board in 2004, bought 9,708 shares at 105.60p each for a total of £10,252. At the sta

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13 Sep 2011 11:51

Volga Gas profits soar as output increases

Volga Gas, the oil and gas exploration and production group operating in the Volga Region of Russia, saw profits in the six months to 30 June soar after a sharp increase in production. Pre-tax profits rose to $3.1m from $176,000 over the same period the previous year on revenues that climbed to $14

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21 Sep 2010 16:14

Small caps round-up: Stanley Gibbons, Plantic, Volga, Somero...

Stanley Gibbons has acquired first day cover stamps and collectibles business Benham from the flowers and gifts retailer, Flying Brands for £1.5m. Benham produced a full-year revenue of £2.96m for Flying Brands in its last full-year results, with a pre-tax profit of £0.41m. Stanley Gibbons' Chie

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26 Oct 2009 11:42

Small Caps round-up - M J Gleeson, Off-Plan Fund, Red Leopard...

Urban regeneration and strategic land specialist M J Gleeson has named Jolyon Harrison as the managing director of its Gleeson Regeneration & Homes division. Harrison, 61, who's spent 40 years in the house building business in the North of England, will replace Colin Rossiter on 2 November. He bou

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16 Sep 2009 17:03

London close: Footsie nears 52-week high

London raced ahead today, with the FTSE 100 crashing through the 5100 barrier near to a 12-month high, though it stopped short of racking up a triple-digit rise. Mining stocks were responsible for a large proportion of the index's rise as metals prices headed north following comments from Federal

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16 Sep 2009 14:30

London afternoon: Footsie consolidates gains

The number of FTSE 100 constituents in the red today is in single figures as investors chase up share prices in the wake of relatively upbeat comments from Federal Reserve Chairman Ben Bernanke last night. Bernanke said the US recession 'is very likely over at this point,' prompting an advance by gl

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16 Sep 2009 13:49

Volga Gas's EBITDA turns positive

Volga Gas, the oil and gas exploration and production group operating in the Volga Region of European Russia, virtually eliminated losses in the first half of 2009 as the revenue started to roll in. Loss before tax in the six months to 30 June 2009 narrowed to $0.22m from $5.03m in the first half o

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25 Aug 2009 16:12

Volga Gas pleased with Yuzhny Uzenskaya progress

Oil and gas firm Volga Gas saw its shares shoot higher Tuesday after an update on supra-salt drilling and development activities in its Karpenskiy Licence Area. The company said the Yu-Uz#8 development well on the Yuzhno-Uzenskaya field has been drilled and has tested productive oil pay while the Y

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