Member Info for jange

SacOil's appeal against a $2.0m a claim made by Identiguard International has been upheld, and South Africa's Supreme Court of Appeal dismisses Identiguard's claim. The claims were made against a 50%-owned subsidiary of SacOil, and a verdict in favour of Identiguard was made in May 2011. The appeal was heard in May 2012, where the verdict was overturned and costs were awarded to SacOil.

Morning all heres to a blue day....

Swap to date have had a big cash burn so far,mainly due to setting up new divisions of there business,they have taken on lots of new staff to counter react all the new work coming there way,i believe next year when revenues start to come in the company will be in a strong place,they have niche products in that part of the world and im expecting big things from them........i hope we do well with them gus good luck mate......

Ñirihuau Block Further to a bidding process, Andes’, together with Kilwer S.A., were awarded a new exploration licence in the province of Chubut. The Ñirihuau block covers a gross area of 4,538 km² and is located in the San Jorge basin. The licence has been granted for six years, with the joint venture committed, during the initial three years, to collect 3,000 geochemical samples, acquire 50 km of 2D and reprocess 150 km of 2D.

Longer term exploration upside Chubut licences At the end of Q1 2001 Andes acquired its joint venture partner's interest in six blocks in the province of Chubut and one block in the province of Rio Negro in order to stimulate activity on these licences. Andes subsequently signed a farm-in agreement with YPF for the six Chubut blocks in May 2011. As a result of this farm-in agreement, Andes now holds a 28% carried interest plus a 2% overriding royalty on Confluencia, San Bernardo, Pampa Salamanca Norte, Buen Pasto, Sierra Cuadrada and Rio Senguerr.

Exploration: Corralera CORRX1 was drilled and cased to a total depth of 2,405m and found the target Vaca Muerta shale formation. The top of the formation was reached at 2,058m with a total of 346m of the horizon penetrated. YPF will soon begin integrating the comprehensive data set in order to define a fracture stimulation programme and testing options for tight oil and shale gas reservoirs. The Corralera block is highly prolific and has previously tested for hydrocarbons in five different conventional formations. The aforementioned Ryder Scott report attributes 649.8 mmboe of prospective resources to the Corralera block of which Andes has a net participation of 87.7 mmboe. Andes has noted that recent transactions for exploration acreage in blocks with comparable locations and quality to Mata Mora and Corralera have been concluded at between US$4,000 to US$5,200 per acre. Even at the bottom end of this range, these metrics would imply a value of at least US$75m for Andes 13.5% interests in the both blocks.

Exploration: Mata Mora In November 2010, Andes concluded a farm-in agreement with YPF for the Corralera and Mata Mora blocks in Neuquén Province. Operations commenced with the drilling of two unconventional wells; YPF.NQ.MMO.x-1 (MMX1) in the Mata Mora block and YPF.NQ.Corr.x-1 (CORRX1) in the Corralera block. MMX1 reached the top of the Vaca Muerta formation at a depth of 2,990m with a total pay zone of 136m penetrated. Oil and gas shows were recorded and after hydraulic fracture stimulation of the formation, the well flowed oil and gas with a high flow pressure. The well produced on average approximately 65 bopd of oil and c.50 mcfpd of gas during the production testing period from 31 January to 16 February 2012. YPF has advised Andes that a Ryder Scott report has attributed mean prospective resources of 147.7 mmboe (140.8mmbbbls of oil and 39 BCF of gas) to the Mata Mora block on a 100% basis. This indicates an equity net participation of 19.9 mmboe for Andes’ 13.5% carried interest.

Development: Vega Grande, La Paloma and Cerro Alquitran In Q1 2011, Andes acquired a 34% interest in the producing Vega Grande field with an option to acquire both the balance of 66% and 100% interests in the smaller La Paloma and Cerro Alquitrán licences. In November, Andes acquired full participation in and operatorship of all three licences through the acquisition of 100% of Grecoil y Cia. C.A. (Grecoil). Additional detail on this acquisition and valuation data can be accessed from the Old Park Lane Capital research note dated 11 November 2011.

Andes’ oil and gas portfolio Block Basin Province Andes interest Net area (sq km) Confluencia San Jorge Chubut 28.0%* 222 San Bernardo San Jorge Chubut 28.0%* 750 Pampa Salamanca Norte San Jorge Chubut 28.0%* 292 Rio Senguerr San Jorge Chubut 28.0%* 781 Buen Pasto San Jorge Chubut 28.0%* 2,405 Sierra Cuadrada San Jorge Chubut 28.0%* 2,531 CÑ-01 "Ñirihuau Sur" San Jorge Chubut 60.0% 2,723 Laguna El Loro Neuquen Rio Negro 100.0% 505 Mata Mora Neuquen Neuquen 13.5%* 32 Corralera Neuquen Neuquen 13.5%* 45 Vega Grande Neuquen Mendoza 100.0% 291 La Paloma Neuquen Mendoza 100.0% 2 Cerro Alquitran Neuquen Mendoza 100.0% 3 Total 10,583 Source: Andes Energia. *Following YPF farm in

Andes made huge progress in the development of its oil and gas portfolio in 2011. Over the period, the company acquired licences, reserves, resources in addition to an operating company. Andes also concluded farm-in agreements for six blocks in the province of Chubut with YPF, the largest oil and gas player in Argentina. Andes now has interests in 13 licences equivalent to over 10,500km 2 of net acreage. Within this portfolio, the company has nearly 9.0 mmboe of net reserves attributable to its interest in the Vega Grande field and 42 mmboe of net contingent resources mostly attributable to its interests in the Laguna el Loro and Confluencia blocks in Chubut. Of particular note is Andes ownership of 108 mmboe of net prospective resources which relate to the company’s 13.5% carried interests in the Mata Mora and Corralera blocks.

YOUR A MANIC POSTER LOL.....

The Company is currently working to develop its projects and the necessary infrastructure in pursuit of this objective, in conjunction with its partners. Until natural gas reserves become available, Gasol is working on plans that will secure availability of regasified LNG as an interim fuel supply to support current power generation requirements in the West African region. Regasified LNG is used in Europe, the Middle East, China and Latin America as a cost effective means of delivering gas where pipeline gas is not available or shortages prevail. Gasol's regasification orientated supply activities to the West African region are intended as a shorter term measure, which will allow for more cost effective and environmentally friendly gas-fired power generation until such time as they can be replaced with secure supplies of low-cost pipeline gas. The interim supply measures will involve Gasol installing a Floating Storage and Regasification Unit in a port in the region and supplying regasified LNG from that vessel to pipelines for transmission to power hubs. In cases where it is a gas supplier to power projects, Gasol will also aim, in due course, to acquire minority equity positions in those power supply facilities

Even after the near 75% rally the shares are still a long way from the highs of 1.625p back on the 19 th of May last year. Another thing that has caught the eye during the move is the volume traded, the numbers have been increasing steadily and we will continue to monitor this one closely.

Caspian is currently drilling hole four out of five holes in a 1,500-metre diamond core drilling campaign to appraise extensions to the La Parrilla orebody, which is targeting an open zone to the west of the existing open pit. To date, a total of 1,172.80 meters has been drilled. Hole three has been completed and the Company awaits assay results. Assay results have been received for the second hole, IP- 02, which indicate thick high-grade intersections well above the average SRK resource grade of 0.09% tungsten trioxide (WO(3). As with the first hole announced in April, the second hole has intersected visible tungsten mineralization, in particular the deepest intersection which corresponds with the deepest in IP-01. Significant mineralization can be seen in all holes drilled to date. Initial indications suggest strong correlation of mineralized zones between holes.

"Logica was unloved by the UK investment community and this bid crystallises what we believe to be the company's true worth," said Peel Hunt analyst Peter Morland in a research note this morning.

With prospects remaining positive, the general market view of the shares as a buy remains intact.

Investors have recognised the company's potential, where a 29.1% share price increase over the last year compares to a loss of 7.6% for the FTSE 100. Over the last six months, the performance has been equally impressive, Diageo rising 19.5% compared to only a 3.6% gain for the FTSE 100*. However, past performance is not a guide to future returns.

The numbers have performed as they should - increased profits from margin improvements, reduced costs, additional free cash flow and, as a sign of confidence, a rise in the dividend. Diageo's global presence is reaping rewards, allowing the company to ride the wave of growth in emerging markets, such as the growing popularity of scotch in Asia. The group seems well placed to purchase further brands as and when opportunities arise, and its performance is in stark contrast to the difficulties that have beset some of its peers

In all, Diageo could prove a play on both emerging markets growth and a US economic recovery.

Diageo has continued to benefit from geographical diversification. It strengthened its global presence further in 2010 with £1.6 billion worth of brand acquisitions in Turkey, Vietnam and Tanzania. Management comments were upbeat, stating the group was "well placed to meet our medium-term financial targets of 6% annual sales growth, margin expansion and 10% plus earnings growth." An ongoing cost saving programme aiming to save £160 million by end-2013 could also support profits.