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Negative Points: Same store or like-for-like sales at Argos declined during the quarter compared to the previous quarter. Electical good sales have proved increasingly important for the retailer, an arena where competition remains intense. Tesco recently announced tough electrical sales. Furthermore, settlements in relation to the mis-selling of Payment Protection Insurance (PPI) may have helped fuel additional spending on tablet computers, settlements which are now considered to have peaked. Accompanying management outlook comments noted its expectation for "consumer spending to remain subdued". Homebase same store sales declined by 4.9% over the previous full year. The outlook for the UK housing market remains uncertain. Furthermore, management noted that "seasonal sales were adversely impacted by the volatile weather and as a result its performance for the quarter was slightly behind our expectations." Despite previously announcing a transformation plan at Argos, investor patience will be required. A five year plan was outlined. The Argos store base is to be reduced. The cost of breaking lease agreements is considered to have proved a factor in the five year timeframe. The group's dividend payment has been rebased (cut). The total dividend for the full year just gone was cut to 3.0 pence per share, down from 4.7 pence per share in the previous full year. Management previously noted that it "is mindful of the investment needs of the group and will set the full year dividend at a level which is both sustainable and provides flexibility to grow the dividends as earnings increase over time." A group staff pension deficit of £158 million was announced. A schedule of deficit recovery payments has also been agreed, with the cash flow impact of the deficit recovery payments being £22 million for the financial year ending 1 March 2014 and for each of the six subsequent years. Competition remains fierce. Supermarkets have over recent years invested in their non-food and online offerings. Against a backdrop of public spending cuts, rising taxes and below inflation wage rises, consumer sentiment remains fragile

Financial Highlights: Total sales at Argos grew by 1.2% to £828 million Like-for-like Argos sales increased by 1.9% Total sales at Homebase grew by 0.2% to £422 million Like-for-like Homebase sales increased by 1.4%

First quarter trading update: Against the backdrop of a negative opening for the UK stockmarket, the group's statement failed to inspire. Same store sales at Argos grew (+1.9%) at a reduced rate compared to the fourth quarter (+5.2%) of the previous year, with the catalogue retailer's product mix again highlighted as responsible for a fall (-0.75%) in the gross profit margin. Furthermore, accompanying management comments also highlighted its expectation for "consumer spending to remain subdued." The share price was down by nearly 6% in early morning trade. More positively, same store sales at Homebase actually rose (+1.4%) compared to expectations for a fall, whilst management noted that "we are on track with delivering our investment plans to drive the long term development of both Argos and Homebase." On balance, and despite the previous announcement of a five-year Argos transformation plan and some broader improvement in sales - last year saw Argos deliver same store sales growth for the first time in five years - analysts remain sceptical

Positive Points: Like-for-like revenues grew marginally compared to the first quarter (2013), whilst profits and the operating margin have proved to be above budget and ahead of last year. The company again highlighted that "the United Kingdom continued to buck market trends, growing strongly." While cautious regarding 2013, the group was more upbeat regarding 2014, highlighting the World Cup in Brazil, the Winter Olympics in Sochi and the mid-term Congressional elections in America. Management continue to focus on containing operating costs. A progressive dividend policy has to date been pursued.

Negative Points: The pattern of revenue growth seen in 2012, with slower growth in the mature markets of the United States and Western Continental Europe, continued to be seen. The company has already flagged that 2013 is without any maxi-quadrennial events. Each WPP company operates in a fiercely competitive sector. The company is exposed to foreign exchange risk. Average net debt in the period was £3.114 billion, up from £2.795 billion in 2012.

Financial Highlights: Overall revenue growth of 6.7%, with like-for-like growth of 2.3%, up from 2.1% in the first quarter First four months profits and operating margin above budget and ahead of last year Average net debt in the period was £3.114 billion, up from £2.795 billion in 2012

AGM trading update: In a statement accompanying its Annual General Meeting (AGM), the Chairman highlighted increased momentum in like-for-like revenues, with growth reported across all geographies. Revenues excluding acquisitions and currency fluctuations rose by 2.3% for the fourth month period, up from 2.1% during the first quarter. The share price rose by over 1.5% in mid afternoon trading. As in the first quarter, advertising and media investment management, branding & identity and healthcare and specialist communications continued to be the strongest sectors. On a geographical basis, Asia Pacific, Latin America, Africa and the Middle East and Central and Eastern Europe remained strong, whilst the mature markets of the United States and Western Continental Europe proved somewhat slower. As for the outlook, "first indications for May pointed to a similar pattern as for the first four months" noted management, whilst "operating profit was above budget and well ahead of last year."

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=ENEG&ArticleCode=33bbd0pc&ArticleHeadline=Newfoundland_Update

The International Energy Agency (IEA) in its World Energy Outlook 2012 projected natural gas’s role in global energy supplies would expand from 21% in 2010 to 25% by 2035. This equates to an annual compound growth rate of 1.6% over that period. To meet the IEA’s target, LNG demand growth, understanding there is a wide range of forecasts, is expected to grow at somewhere in the range of 5%-6% per year by 2020 and then at the slower rate of 2%-3% until 2035. While one can debate the growth rate projections, due to the geographic location of the world’s large natural gas resources and where promising shale gas deposits lay still to be exploited, and where the gas is needed for fuel, there is a supply and demand geographic mismatch. That mismatch will be addressed by either building long distance pipelines or liquefying the gas for shipping. Shipping LNG increases the flexibility to match supply and demand at potentially lower costs.

Freeport LNG-GP was originally formed to import LNG. In June 2003, Dow Chemical Co. (DOW-NYSE) purchased a 15% equity stake in Freeport LNG and agreed to be its first customer. In December 2003, ConocoPhillips became the second customer, the facilities’ lender and co-manager of the project along with Michael Smith. In January 2005, Freeport LNG was awarded a permit to construct the gasification terminal, which was completed three years later in June 2008. The completion of the LNG import terminal came just as the global financial crisis and recession emerged and the American shale gas boom mushroomed radically changing the domestic natural gas market. As the global LNG industry approaches 50 years old, this obscure sector of the natural gas industry is rising in prominence. The role of natural gas in the world’s energy supply is targeted to expand. The less polluting nature of natural gas has been grudgingly accepted by environmentalists and offers a political compromise for managing the transition from a world powered almost exclusively by fossil fuels to one with a more diverse portfolio of energy supplies. Underlying LNG’s newfound importance is the American shale revolution that began in the 1990s and is now blossoming worldwide. The impact of unconventional natural gas resources is comparable to the seismic shift experienced by the global oil industry upon Winston Churchill’s decision to fuel the British Navy with oil instead of coal.

LNG is outgrowing its pricing and trade systems. Such is the cost of success. It will be very interesting to see how it all pans out – and how LNG proposals in Africa react...........

All the pieces of the jigsaw are coming together here,looking forward to the future gl all.

The spot LNG market is growing, and fast. Spot trades grew from 10% of global LNG trade in 2003 to 25% in 2011, and volumes continue to climb. There's a good reason the spot market is hopping – buyers and sellers want more options. A natural disaster here, a hurricane there – LNG needs can change quickly and so supply flexibility is an increasingly important concept in the LNG world. For a spot market to hop, however, requires a recognized and reputable spot price…such as a futures market. It's a chicken-or-egg scenario, for sure.

Japan may want free market LNG, but to financialize LNG it will need a bigger playing field. Japan has a natural market of LNG buyers—the country's utilities. What Japan doesn't have is a natural market of sellers – they don’t have a large homogeneous group of providers, like the United States has with its oil producers. So the question is: Could financialization of LNG give rise to an endless bid cycle? Might Japan be putting the cart before the horse? Not only are the players lacking, but Japan's proposal has some gaping holes. For one, the futures LNG market it imagines would be for true physical delivery— buyers would actually want to take possession of LNG

GAS is positioning itself very well on the african continent and i can see big gains in the future here, i will continue to top up as i believe this will be one of my best picks good luck all.........

The problem is that a commodity market needs a full complement of players. Producers, wanting high prices, are already long in an emerging futures market. To counter, LNG buyers are naturally on the short side. Then traders enter the scene, playing the difference and speculating on the actual supply-demand situation.

Futures contracts are the way markets determine how much a commodity is worth. For LNG such a system would also improve the credibility of pricing information and act as a valuable hedging tool. Japan is pushing for a futures market for LNG In March Japan's Ministry of Economy, Trade, and Industry (METI) announced plans to launch the first LNG futures contract at the Tokyo Commodity Exchange in two stages starting in 2014. The first step would be a cash-settled contract, with settlements based on the spot price on the last session of the month. These cash-settled futures could be sold up to one year forward and would be based in US dollars and metric tonnes.

Just something to think about people Japan spent US$75.4 billion on LNG last year, paying an average price of US$16.60 per million BTU—while gas prices in the United States averaged just US$2.75. No Japanese politician, economist, or grocer thinks that makes sense. So Asia is trying to lower prices for Liquefied Natural Gas (LNG) as fast as they can. Basic supply-demand theory says the pending flood of new supply from around the globe will push prices down over time. But lower prices aren't just about supply-side growth. They're also about transparency. LNG prices have long been linked to the price of oil—with gas priced at roughly 13% or 1/8th the price of Brent, with the details determined in confidential contract negotiations. Asian consumers are tired of this linkage, especially since it has meant prices that are four times higher in Asia than in North America.

"MoneySwap" or the "Group") Variation of loan terms, Loan facility, and related party transaction MoneySwap Plc (AIM: SWAP), the Asia focused prepaid card and online payment services provider, announces an update on certain funding arrangements specifically the variation of the terms of an existing unsecured loan which grants the Group the option for repayment to be settled via the issue of new ordinary shares in the Company. In addition MoneySwap has secured an additional loan facility which will be used to prepare for the launch of its merchant acquisition service for China UnionPay and for general working capital purposes. Variation of loan terms On 31 January 2013 the Group varied the terms of the US$1,937,000 unsecured loans received in December 2012 (further details of which were announced on 19 December 2012), such that the loans are now repayable within two years from the date of issue and are also convertible into new ordinary shares in MoneySwap at the sole discretion of the Group, thereby reducing MoneySwap's current liabilities. The conversion price will be calculated as the average trading price for the 10 days prior to the date of conversion. These loans include US$585,000 loaned to the Group by Power Capital Forex Management Ltd ("PCFM"), a company controlled by Mr. Heng-Jui Lin, of which US$510,000 (plus accrued interest) remains outstanding. Loan facility On 25 February 2013, the Group agreed terms on a loan facility from Mr. Heng-Jui Lin under which Mr. Lin agreed to advance an unsecured loan to the Group of US$100,000 (the "Loan Facility"). Since that time, a further US$232,000 has been advanced under the Loan Facility to the Group by Kolarmy Technology Inc. ("Kolarmy"), another company controlled by Mr. Lin, such that the current outstanding balance loaned by entities controlled by Mr. Lin is US$842,000. The funds received under the Loan Facility are being used by the Group for general working capital purposes and preparing for the launch of its merchant acquisition service for China UnionPay

At a 2014 forward PE ratio of 7, Optos shares are already at a significant discount to the rest of the medical devices sector, as they have been for some time. The problem is that even that lowly rating might not reflect the much greater risk now attached to company at time when further downgrades could come from several different sources.....but as always dyor gl