Member Info for mulledwine

Current trading and outlook Our strong performance continued into November with Sunbelt's rental revenue being 26% ahead of the prior year. Whilst there was no impact from Hurricane Sandy in the Q2 results, in November we estimate that approximately 5% of the year on year improvement can be attributed to this one-off event. 1 Operating profit divided by the sum of net tangible and intangible fixed assets, plus net working capital but excluding net debt, deferred tax and fair value remeasurements. With this momentum clearly established in the business we now anticipate a full year profit ahead of our earlier expectations. Beyond the current financial year we remain well-placed to see further growth over the medium term from either continued structural change or end market recovery. We are also generating high margins which, together with our much larger and younger fleet, results in an ability to fund further significant growth whilst continuing to reduce leverage. Therefore, we expect net debt to EBITDA leverage to be sustained below two times. With a broad range of metrics already at record levels at this stage in the cycle, together with a strong balance sheet to support medium term growth opportunities, the Board looks forward with confidence.

Ashtead's chief executive, Geoff Drabble, commented: "It is pleasing to report another quarter where strong revenue growth and ongoing operational efficiency have delivered record first half pre-tax profits of £141m. With this momentum clearly established in the business we now anticipate a full year profit ahead of our earlier expectations. Beyond the current financial year we remain well-placed to see growth over the medium term from either continued structural change or end market recovery. We are also generating high margins which, together with our much larger and younger fleet, results in an ability to fund significant growth whilst continuing to reduce leverage. Therefore, we expect net debt to EBITDA leverage to be sustained below two times. With a broad range of metrics already at record levels at this stage in the cycle, together with a strong balance sheet to support medium term growth opportunities, the Board looks forward with confidence."

Highlights · Momentum continues with first half revenue growth of 17% · Record first half pre-tax profit2 of £141m (2011: £84m) · Group EBITDA margin rises to 41% (2011: 36%) · Strategy of specialty bolt-ons continued with acquisition of JMR Industries · Board now anticipates full year profit ahead of its earlier expectations · Interim dividend raised 50% to 1.5p per share (2011: 1.0p)

http://www.investegate.co.uk/ashtead-group-plc-(aht)/rns/half-yearly-report/201212110700061982T/

Paul S Walsh, Chief Executive, Diageo said: 'Diageo has had a long and successful relationship with the Cuervo brand and we are proud of what we have achieved for the brand as its distributor over many years. We believe that the future of the brand would be best delivered by aligning ownership of the brand with its route to market and I have no doubt that Diageo has the best route to market for this brand. However it has not been possible to agree a transaction which delivers value for Diageo's shareholders and therefore, by mutual agreement, we have terminated our discussions.'

Diageo announces end to discussions on the future of Cuervo Diageo has today announced that discussions between Diageo and JB y Compania S.A. de C.V. and Lanceros S.A. de C.V., relating to the future of the Cuervo brand have ended. Both parties will now work to ensure the orderly termination of the current distribution agreement, including transitional arrangements, at the end of June 2013.

http://www.investegate.co.uk/diageo-plc-(dge)/rns/end-to-discussions-on-the-future-of-cuervo/201212110700061983T/

Kamlesh Parmar, Chief Executive of 3Legs Resources,said: "The substantially improved performance achieved on the further testing of the Lebien LE-2H horizontal well is very encouraging. The well has succeeded in flowing unassisted and at a sustained rate for a three-week period, while continuing to clean up; and early indications are that our target formation may have additional reservoir potential. An average rate of 550 mmscf/d over a 21-day period is a big step in the right direction, given that the lateral section on the well is no more than 1,000 metres in length and comprised 13 frac stages, whereas it will be quite possible to drill future horizontal wells with significantly longer lateral sections and more frac stages. We will continue to analyse the results of the well test and the pressure data so as to consider any additional steps which may potentially improve performance both from this well and future wells. We are also very pleased that our fifth well in the Baltic Basin, the Strzeszewo LE-1 vertical well, has now been drilled, cased and cemented. Preliminary results from the well indicate an increasing thickness in the Ordovician section as one moves north in our western Baltic Basin concessions. This further validates our geological model for the basin as a whole, and confirms our modelling of our high-graded area across the northern part of our western Baltic Basin concessions. The well has yielded a wealth of additional core and log data which will enable us, after analysis, to determine the optimum programme for further evaluation of individual target intervals. With the first DFIT being planned for the New Year, we expect the remainder of the testing programme for this well to take shape in early 2013."

Further wells in 2013 · Preparations are continuing for the Company's previously-announced drilling programme for 2013, involving the drilling, coring and logging of two or more vertical wells on the Company's high graded acreage on its western Baltic Basin concessions. · As previously announced, these wells will be designed with the option to drill and test horizontal sections at a later stage. · The 2013 drilling programme is expected to result in a significant further de-risking of the Company's western Baltic Basin acreage.

Strzeszewo LE-1 vertical well · Drilling of the Strzeszewo LE-1 vertical well has now been completed; the well was drilled to 3060 metres true vertical depth into the Middle Cambrian interval. · Some 220 metres of whole core have been recovered from the well over the Lower Silurian, Ordovician, and Cambrian intervals, for analysis. · An extensive suite of logs has also been run on the well, and these are now undergoing processing and analysis. · Preliminary log analysis indicates that the well encountered a thicker Ordovician section as compared with the Lebien LE-1 and Warblino LE-1 vertical wells. The precise thickness will be determined following final processing and analysis of the logs over the coming weeks, but the preliminary data confirm the Company's earlier modelling of the development of the Ordovician interval across the northern portions of its western Baltic Basin concessions. · Preliminary log analysis also indicates that the thickness of the Upper Cambrian interval is similar to that encountered at the Warblino LE-1 vertical well. Again, exact figures will be confirmed once final log processing and analysis is completed over the next few weeks. As the Lebien LE-1 well only targeted shallower zones, Upper Cambrian data were not taken from this well. · The Strzeszewo LE-1 well has now been cased and cemented, and the rig has been released. A diagnostic formation injection test ("DFIT") is currently being planned, with expected execution in early 2013. · Options being considered for further testing of this well include DFITs and/or hydraulic frac testing. · Further announcements will be made in due course.

Operational update Further testing of Lebien LE-2H horizontal well · During further testing, the Lebien LE-2H horizontal well flowed natural gas from the Ordovician horizon for a 21-day natural flow test, without any artificial lift, flowing at an average rate of 550 mscf/d through 3½ inch tubing from 31 October to 21 November 2012, when testing was suspended. · Immediately prior to suspension of the test, the well was flowing natural gas at a rate of 470 mscf/d. A total of 12 mmscf of natural gas was produced over the test period. · The well continued to clean up throughout the test period; by the end of the test, approximately 29.4% of the water used during the hydraulic fracturing operation on the well in 2011 had been recovered. · The results of this further testing represent a significant improvement on the result achieved when the well was first tested in 2011. On that occasion, the well flowed with the assistance of a nitrogen lift at a rate of between 450 and 520 mscf/d over an 8-day period, prior to being shut in. · The well is now in a planned shut in period to record pressure build-up using surface and downhole pressure gauges; this pressure build up data will further enhance understanding of the longer term flow potential of the Ordovician interval. · The plan is to continue to gather additional data on well performance, with a view to making a decision on any future operations on the well in Q1 2013 following recovery of the pressure gauges.

3Legs Resources plc Operations on Baltic Basin concessions in northern Poland 3Legs Resources plc (the "Company"), an independent oil and gas group focusing on the exploration and development of unconventional oil and gas resources, announces the following operational update. Highlights · Substantially improved performance achieved on the further testing of Lebien LE-2H horizontal well · Drilling of the Strzeszewo LE-1 vertical well, the Company's fifth well in the Baltic Basin, completed; extensive suite of logs has been run on the well, data now undergoing processing and analysis · Preparations continuing for the Company's previously-announced 2013 drilling programme

http://www.investegate.co.uk/3legs-resources-plc-(3leg)/rns/operational-update/201212110700072193T/

Doh ! and one more Cineworld Group Buy 07-Dec-12 £99,999.20 Steve Wiener 40,816 @ 245.00p

Cineworld Group Buy 07-Dec-12 £24,500.00 David Maloney 10,000 @ 245.00p Cineworld Group Buy 07-Dec-12 £24,500.00 Philip Bowcock 10,000 @ 245.00p

Cineworld Group Buy 07-Dec-12 £49,999.60 Rick Senat 20,408 @ 245.00p Cineworld Group Buy 07-Dec-12 £49,000.00 Peter Williams 20,000 @ 245.00p

Rooney Anand, the Chief Executive of pubs group Greene King, pocketed nearly half a million pounds yesterday by selling off a portion of the shares he was awarded under the company's long-term incentive awards (LTIP) a few years back. Under the LTIP awards that were granted to a number of senior execs on December 9th 2009 which have now vested in full, Anand received 153,000 ordinary shares, 79,959 of which he sold immediately, retaining some 73,041. He sold the shares at a price of 620.07p, earning himself a total of £495,802. This leaves him with 272,794 shares left in the company.

Valuation: Short-term concerns provide value opportunity We continue to believe the best method of valuing Stobart is a sum-of-the-parts basis allowing for the differing pace of progress and development across the group. This yields a fair value of 144p per share based on conservative assumptions and peer ratings to reflect the uncertain environment. However, upside opportunity can be delivered against this as developments in air and estates come through and the biomass market begins to unlock

http://www.edisoninvestmentresearch.co.uk/researchreports/StobartOutlook111212.pdf

Valuation: Earnings metric support 880-905p The Bespak development pipeline should meaningfully boost revenues from end-FY13 onwards and, admittedly, using simple earnings metrics fails to capture the value fully but commercial confidentiality limits rNPV modelling. Hence, with that caveat, assuming a 2013 EV/EBITDA of 7.5x or a 1.75x EV/sales multiple (in line with peers) generates an implied share price of 880-905p.