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Commenting on the results, Chief Executive Officer Bertrand des Pallieres said: "Over the past year much has been accomplished in preparing Cadogan for a sea change in its business operations. Completion of the recent Eni transaction enables the Group to implement a viable development and growth strategy and the changes to the management team, combined with increase to our manpower in Ukraine, gives us the resources for the next stage of growth. The Eni transaction also exemplifies the new business model that we will pursue aggressively, focused on establishing strategic partnerships with a limited group of energy companies and a few selected hydrocarbon-rich nations to which we can bring value. A critical aspect of this strategy will be to restrict our efforts to partnerships and regions where we can be relevant. I am tremendously excited about the potential to expand our joint activities with Eni in Ukraine, and the opportunity we have to contribute to accelerating the transformation of Ukraine towards becoming a more significant energy producing nation."

Cadogan Petroleum plc, an independent oil and gas exploration, development and production company with onshore gas, condensate and oil assets in Ukraine, announces its unaudited results for the six months ended 30 June 2011. · Major transaction with Eni completed on 6 July 2011 · Pokrovskoe and Pirkrovskoe licences extended by five years · Continued gas production from the Zagoryanska, Debeslavetska and Cheremkivska licenses at a combined rate of approximately 62 mcm/day · Pokrovskoe 1 well deepening recommenced · Board restructuring underway · Total capital expenditure of £1.8 million during the first half of 2011 (30 June 2010: £1 million) · Net cash and cash equivalents at 30 June 2011 of £19.3 million (31 December 2010: £23.5 million) · Net cash and cash equivalents at announcement date of £45.7 million

http://www.investegate.co.uk/Article.aspx?id=201108250700250009N

Dr. Alexander Djaparidze, EDC's Chief Executive Officer, added, "The Russian onshore drilling market continues its rapid growth with 11% higher drilling volumes in the first half of 2011 compared to the same period in 2010. EDC is outpacing the market, showing 18% growth. In the offshore business the addition of the Trident 20 jack-up rig and a good performance from our existing operations combined to double revenue in the segment during the period. EDC is uniquely positioned through its size, its cooperation with Schlumberger and financial strength, to support our customers in achieving their goals. This will become especially important as we enter the new tendering season for 2012. We will continue to follow our strategy of international expansion, pursuing value adding acquisitions where appropriate."

1H 2011 OPERATIONAL HIGHLIGHTS: · Drilling output for the 2011 Interim Period was 2.325 million meters, 18% above the output achieved in the same period of 2010, which was 1.975 million meters; · In April 2011 we completed the transaction with Schlumberger to exchange assets and to enter into a Strategic Alliance in the CIS; · Drilling assets acquired from Schlumberger contributed 8 percentage points to the growth of our drilling volumes during the 2011 Interim period; · Horizontal meters drilled during the first six months of 2011 more than doubled compared to the corresponding period of 2010 and amounted to 365 thousand meters; · Exploration drilling volumes were up 9% during the Interim period of 2011 compared to the corresponding period of 2010; · Reduced our reliance on our largest customer during the first six months of 2011 with its share comprising 54% of our total drilling volumes compared to 60% in the corresponding period of 2010; · Construction of new jack-up drilling rig by Lamprell to be used in our Caspian Sea operations continues on schedule; · Our ASTRA jack-up rig was fully employed in Kazakh and Russian waters of the Caspian Sea; two wells were drilled; · Our Trident 20 jack-up rig drilled one exploration well and performed one sidetrack operation for our client, Petronas Carigali, in Turkmen waters of the Caspian Sea; · Continued operations on LUKOIL's Yu. Korchagin field platform in the Caspian Sea, drilling three horizontal developmentwells;

Mr. W. Richard Anderson, EDC's Chief Financial Officer, commented, "We are delighted to have delivered such strong results with significant increases in revenues, EBITDA, net income and EPS. This reflects our leading position in the high growth Russian market where we deliver enhanced service and production efficiency. Although it involves higher levels of joint development with external partners, which affects EBITDA margins, the successful development of our horizontal drilling business provides an important strategic growth opportunity. We are delivering an excellent level of growth across our operations and we are, therefore, optimistic for the rest of the year and committed to delivering strong results in line with our expectations. "

1H 2011 FINANCIAL HIGHLIGHTS: · Top line revenue was US$ 1,265 million for the 2011 Interim period, up 47% compared to US$ 862 million earned during the corresponding period of 2010; · EBITDA was US$ 267 million for the 2011 Interim period, up 29% compared to US$ 206 million earned during the corresponding period of 2010; · EBITDA margin was 21.1% for the 2011 Interim period, which is below the EBITDA margin for the same period in 2010, which was 23.9%; · Net Income was US$ 151 million for the 2011 Interim period, up 44% compared to US$ 105 million earned during the 2010 Interim Period; · We paid dividends for the year ended December 31, 2010 in the amount of $ 0.31 per share; · Capital expenditures for property, plant and equipment for the six months ended June 30, 2011 were US$ 215 million compared to US$ 119 million for the corresponding period of 2010;

http://www.investegate.co.uk/Article.aspx?id=201108250731120154N

Pennon has two main subsidiaries, South West Water and waste disposal company Viridor, notes the Scotsman. Viridor has been growing rapidly over the past years and an increasing emphasis on environmental policy allied to the UK government's stated ambitions in securing renewable energy should prove positive influences. Viridor is also expanding through acquisition, recently acquiring a small recycling company in Cheshire; it is also investing in a 350,000 tonne waste plant in Cardiff. As a result, Viridor, which currently represents around 25 per cent of operating profit, is likely to see this increase in the coming years. With takeover prospects adding speculative frissons, Pennon looks worth investigating further at these levels, according to the Scotsman, which recommends a buy.

I rather suspect that Melrose will not end up owning Charter International, the business that the acquisitive engineer has been stalking since the latter issued several profit warnings in June, says the Tempus team at the Times. On Tuesday it emerged that a second bidder was looking, probably a big American engineer with interests in industrial welding. A cash offer, at a decent price, from a US business would be surely be favoured by fund managers, in these markets, over Melrose’s cash-and-shares offer. A trade buyer, interested in the ESAB welding business and aiming to sell Howden, the highly regarded pump maker, should also be able to extract value more easily than Melrose could. The shares sell on ten times’ earnings. If Charter is lost and no new shares have to be issued, that looks like a good entry point, suggests the Times.

I rather suspect that Melrose will not end up owning Charter International, the business that the acquisitive engineer has been stalking since the latter issued several profit warnings in June, says the Tempus team at the Times. On Tuesday it emerged that a second bidder was looking, probably a big American engineer with interests in industrial welding. A cash offer, at a decent price, from a US business would be surely be favoured by fund managers, in these markets, over Melrose’s cash-and-shares offer. A trade buyer, interested in the ESAB welding business and aiming to sell Howden, the highly regarded pump maker, should also be able to extract value more easily than Melrose could. The shares sell on ten times’ earnings. If Charter is lost and no new shares have to be issued, that looks like a good entry point, suggests the Times.

Admiral's shares suffered yesterday, says the Investment Column at the Independent. The company reported high headline numbers: first-half profits of £16.6m were 27 per cent ahead of the same period last year, while turnover rose by 53 per cent to £1.1bn. But some analysts expected better for the shares to justify their lofty rating. Their main worry was the cost of big personal injury claims from prior years, which appear to have increased considerably. We said avoid back in March, with the shares at 1,665p. That has proved to be sound advice. However, even after their recent falls, the shares still trade at 17 times full-year earnings. Given that premium prices are slowing and the increase in those injury claims, the fact that the company is going to find it tough to maintain its growth levels, and our concerns over service, the shares are too pricey. Avoid, says the Independent.

Dear Fellow Shareholder Your Board firmly rejects the 460p per share Offer by Alere and unanimously recommends that you reject it too. Take no action and do not complete any Form of Acceptance. A low and opportunistic hostile Offer Following the announcement of Alere's hostile Offer on 5 August 2011, your Board did not hesitate in unanimously rejecting it. We are adamant that it fundamentally undervalues the Company by failing to reflect Axis-Shield's current strengths and future prospects. In our Interim Results released on 24 August 2011, we reported that the Company had made excellent progress during the first half of 2011 and is on track to deliver for the second half of the year.

http://www.investegate.co.uk/Article.aspx?id=201108250700239988M

Said Darwazah, Chief Executive Officer of Hikma, said: "I am very pleased with the resilient performance across the Group in the first half. While successfully managing unprecedented change and significant disruption in the MENA region, we have continued to invest in our MENA businesses. These investments - in our people, our facilities and our overall operations - reflect our commitment to the region. We are delivering on our strategy to increase the scale of our global Injectables business. The organic business is performing very well and after an extended FTC approval process, our team in the US is rapidly integrating the MSI business and restructuring the operations to maximise operating efficiencies. At the same time, we are implementing our plans to capitalise on the exciting opportunities this business offers. Excluding colchicine, which was discontinued in the second half of 2010, our Generics business achieved double-digit growth and we continue to leverage our FDA-approved operations in the MENA region to maximise the potential of our US product portfolio. We have benefited once again from the diversity of our business model. We continue to expect a strong performance in the second half of the year and believe the Group remains well positioned for 2011 and beyond."

Hikma delivers a resilient H1 performance and is on track to deliver full year guidance for revenue growth and gross margin London, 25 August 2011 - Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ DUBAI: HIK), the fast growing global pharmaceutical group, today reports its interim results for the six months ended 30 June 2011. H1 2011 highlights · Group revenue increased by 10.4% to $394.8 million, with organic¹ growth of 3.2% · Branded revenue increased by 3% despite disruptions in several MENA markets and remains on track for around 7% full year growth · Continued investment in our people, our facilities and our overall operations in MENA during the period, reflecting our commitment to the region · Generic revenues declined bv 12.4% as expected, reflecting the exceptional colchicine sales in the first half of 2010. Excluding colchicine, Generics delivered double-digit revenue growth and remains on track to achieve around $160 million in revenue for the full year · Excellent revenue growth in the global Injectables business of 55.9%, with organic¹ revenue growth of 21.6% and organic operating profit up 41.0% · Closed the MSI transaction following a significant regulatory delay, giving rise to higher transaction costs of $5.4 million and a net loss of $5.0 million in the two months to 30 June 2011. MSI is expected to break even in the second half and achieve EBITDA margin of at least 10% in 2012 · Gross margin was 43.7% compared to 49.9% and operating margin was 12.4% compared to 20.8%, reflecting the discontinuation of high margin colchicine sales, the consolidation of the Multi-Source Injectables (MSI) business, disruptions in the MENA region and the impact of currency movements · Profit attributable to shareholders of $33.1 million, compared to $54.7 million in the first half of 2010. On an adjusted basis² profit attributable to shareholders was $41.1 million, compared to $52.8 million · Continued new product delivery across all countries and markets - launched 44 products and received 71 product approvals · Maintained the interim dividend at 5.5 cents per share · Successfully completed investments in India and China, strengthening the quality and sourcing of Active Pharmaceutical Ingredients (APIs) and enhancing our R&D capabilities

http://www.investegate.co.uk/Article.aspx?id=201108250700240006N

Commenting on the results, James Menzies, Chief Executive, said: "The first half has seen the Group deliver continued production growth leading to record levels of revenue and cash flow. In addition we have added over 38 million barrels of oil equivalent in reserves and resources which will be brought into production over the coming years. The Group will continue to seek opportunities to high grade and reshape the portfolio to focus around a number of core areas where the Company can utilize its knowledge and expertise to drive further growth."

OPERATIONAL · Average production increased by 23% to 19,600 boepd (1H'10: 16,000 boepd); current daily production c.23,200 boepd · 16.5 MMboe of 1P reserve additions from signing of GSPA for the Kerendan gas field · Commercial oil discovery in the Bualuang East Terrace - additional 12 MMbo of resources · Additional pay found in T2 and T5 reservoirs in Bualuang main field in current drilling campaign - additional 10 MMbo of resources · First steel cut for Bualuang Bravo Wellhead Platform for delivery mid-2012 OUTLOOK · Full year average daily production forecast 21,000-22,000 boepd · Drilling in 2H'11 in Bangkanai PSC, B8/38 licence and Bontang PSC · 2012 drilling programme focused around North Kutei basin and Barito basins, Indonesia, and the Western Gulf of Thailand

For the six months ended 30 June 2011 Salamander Energy announces its half year results for the six months ended 30 June 2011. HIGHLIGHTS FINANCIAL · Revenue up by 41% to $187.7 million (1H'10: $133.5 million) · Operating cashflow1 up by 117% to $137.0 million (1H'10: $63.2 million) · EBITDAX2 up by 114% to $138.0 million (1H'10: $64.5 million) · Pre-tax profit of $62.4 million (1H'10: loss of $90.3 million) · Funds as at 30 June of $90.4 million (FY'10: $99.2 million)3 · Net debt at 30 June of $264.5 million (FY'10: $190.2 million) · Refinanced borrowing base with new seven year $325 million senior/junior reserve based lending facilities