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Increased equity interest in Bangkanai PSC Salamander Energy plc announces that it has agreed to acquire the full authorised share capital of Elnusa Chariot International Limited ("Chariot"), which holds an 11% interest in the Bangkanai PSC. Salamander is the operator of the Bangkanai PSC and on completion of the transaction will hold an 80% interest in the licence. Salamander is acquiring Chariot from PT. ElnusaPatra Ritel for a cash consideration of US$6 million. The Bangkanai PSC is located in Central Kalimantan, Indonesia, one of the Group's core focus areas. It contains the Kerendan gas field development where a Gas Sales Agreement was signed in 1H 2011 for the supply of 20 Bnbtu per day for a period of 20 years. The commercialisation of this gas resulted in approximately 16.5 MMboe of proved and probable ("2P") reserves being bookable net to Salamander. In addition, the field contains a further 31.9 MMboe of gross contingent resource and is expected to be ready to deliver gas in mid-2013. As a result of this transaction, Salamander will be in a position to book an additional 2.6 MMboe of net 2P reserves and 3.5 MMboe of net contingent resources. In addition to the Kerendan field development, the Bangkanai PSC has extensive exploration potential. The DrillCo-1 land rig is due to mobilise to the Kerendan field site next month ahead of both development drilling and exploration drilling on the West Kerendan and Sungai Lahei prospects. Exploratory drilling on West Kerendan and Sungai Lahei will target approximately 900 Bcf of gross mean prospective resource.

http://www.investegate.co.uk/Article.aspx?id=201111230700175881S

Richard Cousins, Chief Executive, said: "Compass has delivered another strong performance this year. Including the impact of acquisitions, revenue has increased by almost 10% and we have delivered organic revenue growth of over 5%. Our relentless focus on efficiency has continued and, excluding the impact of Japan and restructuring costs, we have increased the underlying margin by 20 basis points. Whilst we are not immune from economic reality, the fundamentals of the business remain strong and our flexible cost base will enable us to respond quickly to any changes in economic conditions. We continue to see many opportunities for further outsourcing in our core food market and support services is adding an exciting new dimension to our growth. We are also placing greater emphasis on the fast growing and emerging markets, where we see real opportunity for further expansion. Increasingly we see our business in three geographic segments, North America, Europe & Japan and Fast Growing & Emerging Markets. Our management structure will now evolve to reflect this and we are today announcing the appointment of Gary Green and Andy Martin as Group Chief Operating Officers. Gary will continue to have responsibility for North America and Andy will focus on Europe & Japan while I will allocate more of my time to the Fast Growing & Emerging Markets. We are also pleased to announce the appointment of Dominic Blakemore as Group Finance Director." Sir Roy Gardner, Chairman, said: "The Group continues to make excellent progress, despite the headwinds of food cost inflation, an uncertain economic backdrop in parts of the world and the impact of events in Japan. The strength of our cash flows enables us to increase investment in the business to drive organic growth, as well as investing in high-quality infill acquisitions. Looking forward, Compass is well placed to exploit the significant growth opportunities that we see in many of our markets. The future prospects of the Group have given us the confidence to increase the final dividend by 10% and to announce a £500 million share buy back over the next 12 months."

Continuing to invest in growth and reward shareholders · Revenue £15.8 billion + 9.4% (constant currency + 9.2%, organic + 5.4%) · Underlying operating profit £1,091 million + 9% (constant currency + 9%) · Underlying earnings per share 39.0 pence + 9% (constant currency + 9%) · Reported profit before tax £958 million + 5% · Free cash flow £693 million · Full year dividend 19.3 pence + 10% · Share buy back £500 million over 12 months

http://www.investegate.co.uk/Article.aspx?id=201111230700205955S

Some very nice figures in here today

Leo Quinn, Chief Executive Officer said: "Rapid execution of our self-help plan is building a stronger QinetiQ. The Group is better focussed on delivering its customers' changing needs, and this is starting to come through in its underlying performance. "The Board believes that, absent any material change in customer requirements, the Group will exceed its original expectations for the current year by approximately 20%, although market uncertainties mean that visibility beyond the current year remains lower than normal. Our confidence in QinetiQ's ability to build significant value over the medium term is demonstrated by the payment of the interim dividend of 0.9p."

Headlines • Self-help delivering a stronger QinetiQ: • Group margin* uplift driven by UK Services and Global Products • US Services successfully integrated under new leadership • MOD customer satisfaction ranking improved from 17th to 3rd position over 2 years • NASA performance scores running at over 90% • Value being created: • Continued strong cash generation reduces gearing ratio† to 0.6x (31 March 2011: 1.4x) • Underlying earnings per share* up by 42% • Board's expectations for the current year upgraded by approximately 20% • Low visibility and uncertainty leaves outlook beyond the current year unchanged • Payment of an interim dividend of 0.9p, reflecting confidence in the medium term

http://www.investegate.co.uk/Article.aspx?id=201111230700455935S

N Brown (BWNG) kept its "buy" rating from Singer Capital, with a 295p target price. The broker holds the home shopping retailer's Simply Be brand, which offers fashion to all body sizes, in high regard. Singer says that the group has an 11% share of the size 20+ market and adds that the stores provide a more welcoming environment for shoppers. The broker adds that the shares are currently at the bottom end of the recent trading range and notes that the company offers and attractive dividend yield of 5.3%. The shares slipped 3p to 243p.

Commenting on the acquisition, Weir Chief Executive, Keith Cochrane, said: "Seaboard is a well-managed business, with a strong position in a market that we understand well. The acquisition is perfectly in line with strategy. It broadens our product offering and fits into our business model of growing the installed base of original equipment from which we drive aftermarket opportunities. There is great potential to strengthen the business further through our lean engineering and operational processes and extensive sales and service networks. We are confident that the extended market opportunities and medium term operational benefits will create significant value for our shareholders. We retain financial flexibility to pursue organic growth initiatives and further acquisition opportunities in line with our strategy." Kelly Joy, Seaboard's President and CEO, added: "In recent months we have been looking for the ideal partner to take the business forward while retaining Seaboard's identity and commitment to customer service. We have spent a lot of time with the Weir team and have been hugely impressed by the way they have developed Weir SPM since its acquisition in 2007. I am convinced that this is the best outcome for our employees, customers and shareholders. The senior team at Seaboard intends to remain with the business and we are all excited by the extensive opportunities arising from the combination with Weir."

CONT Seaboard's business complements Weir's existing North American operations, SPM and Mesa, providing significant strategic, operational and financial benefits. The acquisition of Seaboard: Extends Weir's leading position in the production and servicing of a wide range of surface equipment targeted at unconventional drilling and completion markets; Broadens the Group's product offering in conventional and unconventional oil and gas markets; Complements Weir's existing customer base and expanding access to a broad range of exploration and production businesses; Combines the extensive North American sales and service footprints of Seaboard and Weir and leverages Weir's international routes to market to accelerate revenue growth; Builds a platform for growth into adjacent markets not currently served by either business; and Enhances productivity with the application of Weir's lean philosophy in Seaboard's production, supply chain and front end business processes. Cost, operating efficiency and procurement benefits are expected to exceed US$5m by 2014. The consideration is subject to customary post-closing adjustments to net indebtedness and working capital levels at closing. In addition, U$3m in deferred consideration relating to expected tax refunds will be paid six months after the closing of the transaction. Related transaction costs in the region of US$7m are expected to be incurred and will be recognised in 2011. Completion is conditional on US regulatory clearance, and subject to such clearance is expected to take place in December 2011. Following completion of the acquisition, the existing senior management team led by Kelly Joy, CEO, will continue to manage the business and will report to Steve Noon, Divisional Managing Director, Weir Oil and Gas.

Acquisition of Seaboard Holdings Inc for US$675m (£431m1) Weir increases presence in the growing upstream oil and gas markets The Weir Group PLC ("Weir") has agreed to acquire Seaboard Holdings Inc ("Seaboard"), an independent wellhead solutions provider focused on the growing North American unconventional oil and gas drilling and production markets for US$675m (£431m1). The consideration will be payable in cash on completion and funded from new and existing bank facilities. In line with Weir's acquisition criteria, the acquisition is expected to be immediately earnings accretive and post tax returns are expected to exceed Weir's cost of capital by 2014. Based in Houston, Texas, Seaboard manufactures engineered wellhead and pressure control equipment to the oil and natural gas exploration and production industries. Seaboard also provides a range of associated field and support services, including equipment rental into the onshore oil and gas drilling, completion and production markets. The growing shift in North America towards unconventional oil and gas development and the rapid growth of high pressure hydraulic fracturing has increased demand for Seaboard's products and services. Seaboard's range of high-end surface equipment is directly adjacent to Weir's market leading portfolio of frac pumps and other well completion equipment with a business model closely aligned to Weir's core competencies in highly engineered products used in harsh environments. For the year to 31 December 2011, Seaboard is forecast to achieve proforma revenues and EBITDA2 of US$216m and US$58m respectively3. The acquisition of Seaboard is consistent with Weir's strategy of extending its upstream market presence in aligned markets with positive fundamentals. The global surface equipment market is expected to benefit from higher drilling activity and increasing well complexity, leading to growing demand for wellhead and pressure control products.

http://www.investegate.co.uk/Article.aspx?id=20111123070035H5982

So they predict back in profit Q3 - Q4 2012 - patience as always in this 'game'

Very positive statement "constitute the beginnings of a significant turnaround story." - lets see how that develops

CONT The first blast at the Sky Chrome open pit mine occurred at the beginning of this month. It was met with equanimity by the local community, many of whom were not even aware that it had occurred. It is anticipated that Sky Chrome open pit ore will be significantly cheaper than at Lesedi underground ore. The UG2 production facility being built by Anglo Platinum, which will supply the Company with UG2 chrome concentrate, is on schedule and is expected to produce chrome concentrates from January next year. This will further reduce the average cost of furnace feed. On the marketing side, ferrochrome prices were disappointing. However they began to be offset in the last two months by a weakening of the Rand vis-à-vis the U.S. dollar, the currency in which ferrochrome is priced. The Company increased its direct sales of beneficiated ore as result of greater mine production - a useful addition to revenue. In August, Chris Jordaan took on the role of CEO. He has extensive experience in the ferrochrome industry and proven management skills. The Board welcomes him to lead the team. Under Chris, a number of changes to the management team in the mining, operations and marketing areas were made that are expected to strengthen our ability to meet our objectives. Occupational health and safety are a top priority for the Company, going hand in hand with good management. In this area, IFM had another successful year, performing at an enviable standard. All in all, despite the industry head winds, the Company has good reason to be optimistic that the measures it has taken during the year will soon bear fruit. While the first six months will be seen to have been arduous, a turnaround is expected to begin in December and gather pace in the subsequent months, resulting in a profit for the second half.

hairman's Address at the 2011 Annual General Meeting of Shareholders The first half of the 2012 financial year is almost over. In it, the difficulties that have long faced the Company and other South African ferrochrome producers continued. Soft demand for ferrochrome with consequent price weakening was unabated and the Rand's strength added to the pressure on margins. The poor market conditions were exacerbated by the Eurozone sovereign debt crisis which eroded confidence among stainless steel producers in the prospects for global economic growth. However, despite these vicissitudes, the Company has substantial reasons for optimism. The measures we have taken to push costs down the ladder to the lower rungs of South African industry constitute the beginnings of a significant turnaround story. The recent extensive modifications to its furnaces the Company made with the help of Metix Ltd, the highly experienced South African smelter engineering firm, are making a welcome difference to production volumes and costs. The work, consisting mainly of replacing the roofs with copper and changing the ore feed chutes, was done on schedule and within budget. The ramp up is going well and the furnaces are beginning to produce at design volumes. Some further operational time is necessary before we can gain full confidence that the improvements are sustainable. But the performance to date is impressive. The recently achieved stability of the furnaces has allowed an increase in the use of anthracite to substitute for the more expensive coke, further reducing costs. Anthracite now represents a material proportion of the reductants used in the furnaces and a further increase is targeted. Energy consumption was significantly improved as a result of greater furnace efficiency in comparison with previous years; not a trivial matter in view of rampantly rising electricity costs in South Africa. The co-generation plant was in operation, contributing further to power cost containment.

http://www.investegate.co.uk/Article.aspx?id=201111230700195936S

Mike Hodgson, Chief Executive, commented: "Piaui represents a previously concealed ore body and as such is unlikely to have been discovered had it not been for our aerial geophysical programme. Previously announced geochemical and drilling results over a 300m strike length indicated good grades at shallow depths including results of 1.93 metres @ 22.86g/t Au, 10.7 metres @ 1.17 g/t Au, 9.1 metres @ 2.24 g/t Au, 3.2 metres @ 16.16 g/t Au and 4.5 meters @ 2.75 g/t Au, and highlighted the possibility of wider intersections than we have encountered at Palito. The latest preliminary results continue to confirm the potential of Piaui to host broader width near- surface mineralization with good gold grades, over a significant strike length".