Member Info for mulledwine

http://www.investegate.co.uk/Article.aspx?id=20101224070000H5548

http://www.investegate.co.uk/Article.aspx?id=20101223091400H5317

HIRCO BOARD CHANGES LONDON - The Board of Hirco PLC (AIM:HRCO) notes the recent media commentary concerning the Chairman, Niranjan Hiranandani, and of certain enquiries by the Indian Central Bureau of Investigation. The Board has kept this matter under review, in discussion with Mr Hiranandani. It understands that no formal CBI charges relating to the Employees Provident Fund Act have been served, notwithstanding some inaccurate media reports to the contrary. Furthermore, in relation to alleged historic errors in EPF contributions in other companies unrelated to Hirco PLC, also widely reported, the Board refers investors to Mr Hiranandani's public rebuttals on the matter. Although the allegations are personal to Mr. Hiranandani and do not concern any of Hirco PLC's investments, he has nevertheless concluded that the recent press coverage risks unwarranted damage to the reputation of the Company. Accordingly, Mr Hiranandani has tendered his resignation as a director and chairman of Hirco PLC pending his name being cleared. With sadness, the Board has accepted his resignation with immediate effect and offers him continued support. On 23 September 2010, the Board announced a number of changes to reduce its size. In light of Mr Hiranandani's resignation, the Board will review its balance and composition as a matter of urgency to best position it for the future direction of the Company. As an interim measure, David Burton has been appointed Chairman of the Board.

http://www.investegate.co.uk/Article.aspx?id=201012230701044882Y

MANROY PLC ADMISSION TO AIM AND FIRST DAY OF DEALINGS The Directors of Manroy Plc, ("Manroy" or the "Company", formerly "Hurlingham Plc"), are pleased to announce that the Company's shares have today been admitted to trading on AIM. Manroy designs, manufactures, supplies and supports (including the provision of spares and maintenance) the following products to the UK Ministry of Defence and other UK Government approved customers in over 30 countries worldwide: · 12.7mm M2 Heavy Machine Gun (also known as the 0.50" calibre M2 HMG); · 7.62mm General Purpose Machine Gun (GPMG); and · weapon tripods and mounting systems. The admission to trading on AIM comes as a result of a reverse takeover of Manroy Systems Limited by Hurlingham Plc (the "Acquisition"). As part of the Acquisition, the Company has also raised £6 million through a placing by Arbuthnot Securities Limited of 8,000,000 new ordinary shares of 5 pence each in the Company ("Ordinary Shares") with institutional and other shareholders at a placing price of 75 pence per share. In aggregate, 5,390,438 Ordinary Shares have been admitted to trading on AIM today, comprising 2,905,606 Existing Ordinary Shares of Hurlingham Plc and 2,484,832 First Placing Shares. It is expected that an additional 7,596,168 Ordinary Shares, comprising 5,515,168 Second Placing Shares and 2,081,632 Consideration Shares will be admitted to trading on AIM tomorrow, Thursday 23 December 2010. A further announcement will be made in due course. The Company's TIDM is "MAN" and its ISIN code is GB00B4L12X65. Commenting on Manroy's admission to trading on AIM, Glyn Bottomley, CEO said: "Admission to AIM is an important next step for us as we pursue our plans to grow Manroy and unlock the potential of this successful business. We will continue to capitalise on our strengths and further expand both geographically and in terms of our products. "We are positioning Manroy to be able to offer a wider range of weapons, mounting systems and spare parts to UK Government approved customers in new jurisdictions based on the established market for the M2 HMG, by manufacturing under licence, acquiring complementary businesses and expanding existing capabilities. There is a lot of potential for this business to continue to grow and we are pleased that this has been recognised by our new shareholders."

http://www.investegate.co.uk/Article.aspx?id=201012220801034052Y

The Company appears to have shrugged off the bad news re the USA licence application. I may not get my lower entry now!

AstraZeneca (AZN) saw its shares rise by 16p to 2,953.5p despite announcing the scrapping of work on Motavizumab, an experimental drug for preventing serious lung disease in infants. The drug giant has now withdrawn a licence application which is pending at the US Food & Drug Administration (FDA). The 2010 accounts will take a $445 million impairment charge as a result of the decision, although the company flagged that this will not affect its core earnings for the year. AstraZeneca said that Motavizumab remains in development for other treatments.

Shares in Discovery Metals (DME) rallied 8p to 92.5p after the firm was awarded the mining licence for the Boseto copper project in northwest Botswana. This marks the last milestone of approval following the grant of the surface rights by the Tawana Land Board in October, and the project construction timeline remains on track for commissioning in the first half of 2012. The licence has been granted for a period of 15 years, beyond which the company's retention of the mining lease relies on it demonstrating scheduled reserves and resources.

Its a gamble ---if they secure funding then this will bounce very well, but until that news then the SP will be under a lot of pressure - much like HAIK of late - that turned out well....

Commencement of Drilling Hardy Oil and Gas plc (LSE: HDY), the oil and gas exploration and production company focused in India, is pleased to announce the commencement of drilling of the second exploration well on the D9 exploration licence. The exploration well KG-D9-B3 commenced drilling on 20 December 2010 using the Transocean drillship Discoverer India in a water depth of approximately 2,950 m. The target depth of the well, which aims to explore the hydrocarbon potential of Tertiary aged sands, is 3,830 m MD. The D9 exploration licence is located in the Krishna Godavari basin on the East Coast of India and covers an area of approximately 11,605 km2. Hardy holds a 10 percent participating interest in the licence which is operated by Reliance Industries Limited. The licence's minimum work programme provides for the drilling of four exploration wells. Yogeshwar Sharma, Chief Executive Officer of Hardy, commented: "We are delighted with the commencement of drilling of our second exploration well on this prospective block where a number of promising prospects have been identified. The results of the KG-D9-B3 well are expected in the first quarter of 2011."

http://www.investegate.co.uk/Article.aspx?id=201012210807563417Y

However this may well drop further to 2800 and if that does not hold then 2700 could be on the cards

Funding is obviously the big issue here and the Board hint that it may be a problem in the future - The longer term success of Gasol will, to a large extent, depend on its ability to succeed in raising the necessary funding for its projects and its corporate development

Funding Gasol remains a development company without any material income, and which is investing time and money to develop gas monetisation projects. Cash outflow from operating activities in the six months to 30 September 2010 was reduced by more than 50% to £965,873 (2009: £1,934,932). New funding in the period was achieved through a £1 million unsecured loan facility from our major shareholder, African Gas Development Corporation Ltd, and the Directors remain grateful for its support. Gasol is fully aware that significant funding will be required in order to realise its strategy and to progress its projects to final investment decision stage and beyond. The longer term success of Gasol will, to a large extent, depend on its ability to succeed in raising the necessary funding for its projects and its corporate development.

Haresh Kanabar, Chairman of Gasol, said: "Gasol continues to believe that its business model is sound and that the future of the gas market in West Africa remains positive. The Company's development and success will depend on its ability to build on its partnerships to crystallise business opportunities, but the Board believes that the opportunities available in the gas-to-power sector in West Africa can provide attractive business for the Company's shareholders."

Highlights § Cost and expenditure for the six months reduced by 60% to £1,174,080 compared to the same period last year (six months ending 30 September 2009: £2,944,655) § Cash outflow from operating activities in the six months was reduced by more than 50% to £965,873 (2009: £1,934,932) § £1 million raised through an unsecured loan facility from major shareholder, African Gas Development Corporation § Gasol continues to work closely with African Gas Development Corporation to find shorter term returns for shareholders through a Gas-to-Power business in West Africa

http://www.investegate.co.uk/Article.aspx?id=201012210700073230Y

Highlights: · Updated CPR announced on 3 December 2010 o Gross "Proven plus Probable" reserves increase to 307 Bcf (up 91% from 2008 CPR) o Significant growth in 2C gross contingent resources - increase 490% from 369 Bcf to 1,808 Bcf o Gross contingent resources (Best Estimate) increased 340% from 634 Bcf to 2,158 Bcf · SGL First Production o First gas sales to GAIL and shipped to Ramgarth Power Plant · SGL Expansion o Drilling of additional SGL production wells has begun o Activities for Phase II expansion on track for start up next year · Frac Plans o Preparation for fraccing campaign in Q1 2011 continues · The Company continues to use existing bank facilities to fund the SGL expansion expenditure

http://www.investegate.co.uk/Article.aspx?id=201012210700083264Y