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Stephen Voss, Managing Director of Global Energy Development commented: "2010 has been a year of consolidation for the Company which has positioned it ideally for growth in 2011. Following the Block 95 farmout, the development plan re-evaluation and an anticipated accelerated development programme, the Company is well placed to increase production levels and financial performance in 2011."

· Farm-out agreement with Gran Tierra Energy, Inc. (NYSE Amex: GTE, TSX: GTE), in relation to 60% interest in the Peruvian Block 95 Licence Contract (the "Contract") with the Company retaining 40% interest in the Contract through its wholly-owned subsidiary Harken del Peru Limitada. Under the terms of the agreement, GTE will become the operator of the Contract, subject to and following approval from the Peruvian authorities, and will assume 100% of the costs of an exploration well up to a maximum of US$15 million. GTE also assumed its share of the past costs incurred by the Company on the Contract for US$2 million. Expectations are to drill the well before the end of 2011, once final environmental sub-permits are received · Proved and probable ("2P") reserve volumes decreased since 2009, totalling 123.6 mmboe (147.1 mmboe in 2009) as at 31 December 2010 following an independently prepared U.K. reserves report. The overall decrease in reserve volumes is due primarily to the Company's Farm-Out of a 60% working interest of Block 95 in Peru, the reclassification of gas reserves, production, accelerated reversionary interests and minor field revisions. Approximately 6.1 mmboe of gas volumes (previously included in the 2P reserves as at 31 December 2009) no longer qualify as reserves in accordance with existing industry standard rules due to a current lack of a commercial gas sales contract. Upon execution of a future sales contract, gas volumes may then qualify and be restored to company reserves. · The Company also completed an additional reserve data document this year reflecting the requirements of Canadian Form 51-101. Ralph E. Davis Associates, Inc. ("RED") prepared the 51-101 in accordance with these features and other required rules and determined that the reserve volumetric data presented in the previously described UK reserves report were in agreement except for economic limit revisions related to oil price guideline differences (as mandated by Canadian 51-101 rules). The net reserves on the Form 51-101 report were largely the same as the UK report, however, the net present value calculations were slightly lower due to the required lower oil price assumptions (as mandated by Canadian annual requirement). · For the first time the Company is reporting this year reserves of natural gas liquids based upon recovered condensates in our Bolivar block.

2010 Highlights: · Revenue increased by 8% to US$23.8m (2009: US$22.1m), mainly as a result of the oil price recovery · Gross cumulative annual production in 2010 of 401,379 bbls (460,144 bbls in 2009) · Exploratory investment write-off of US$1.2 million in Panamian Garachine Block (Exceptional charge in 2010) · Higher cost in crude oil truck transportation due to current pipeline restrictions in Colombia · Administrative expenses increased to support the development drilling program · External financing of US$3.3 million with BBVA (Colombian branch of an international bank) and US$5.0 million with HKN, Inc. to continue executing Company's development drilling plan

http://www.investegate.co.uk/Article.aspx?id=201103240700125239D

Higher oil prices boosted revenues at Latin America-focussed petroleum explorer and producer Global Energy Development by 8% to $23.8m - despite a fall in output. Gross cumulative annual production in 2010 was 401,379 barrels compared with 460,144 barrels in 2009. The firm posts an operating loss of $1.4m for the year to the end of December compared with a profit of $4.1m last time and a pre-tax loss of $3.2m against a profit of $2.7m in 2009.

http://www.investegate.co.uk/Article.aspx?id=20110324070000P7FCD

United Utilities just ahead of forecasts Date: Thursday 24 Mar 2011 LONDON (ShareCast) - United Utilities is still trading “slightly” ahead of management expectations, keeping the water utility on track for a “solid” underlying full-year result. Regulated revenue continued the positive trends seen during the first half but, as previously flagged, will be a “little lower” than the first six months due to seasonality. Total regulatory capital expenditure is expected to top £600m. “As expected, regulated underlying operating profit is therefore anticipated to be somewhat lower in the second half of 2010/11, compared with the first half, although the full year position represents a healthy financial performance in light of the impact of the price review,” it said. Additional costs linked to harsh winter weather were “not significant”, though meeting 2010/11 regulatory leakage targets “extremely challenging”. Full year results are out on 26 May.

Financial Results Against a background of depressed market conditions we consider that the results recorded for the six month period to 31st December 2010 are highly resilient and very much in line with the strategic direction in which we are driving this Group forward. Sales revenues have been maintained at £12,702,000 (2009 £12,349,000) an increase of 2.9% in line with expectations. Operating profits before exceptional expenses and the amortisation of acquired intangible assets have remained steady at £1,429,000 (2009 £1,410,000), whilst profits before taxation of £1,154,000 compare with £1,178,000 for the same period in 2009.

http://www.halifaxmarketwatch.co.uk/rns.cgi?username=&ac=&action=news&rns=1&view=full&story_id=4130017

Huntsworth is a global public relations business but a gentle sprinkling of PR fairy dust on its full-year results was not enough to keep the share price on firm footing last night. We think that concerns about top-line growth are liable to dampen the market’s enthusiasm for the shares. Hold is the Independent’s recommendation.

Finding new drugs is an expensive, hit-or-miss affair. How much easier to pick up existing ones once in development, which is what a lot of big pharmaceutical firms do. Easier still is to buy drugs that are out of patent and so relatively cheap but still with a useful shelf life, which is what Alliance Pharma does. This year’s performance will be more subdued, partly because of the arrival of additional competition for a steroid it owns, but this has been well signalled to the market. The shares, on about ten times’ earnings, look good value if you can pick them up, reckons the Times.

There are two reasons to hold Soco International. One is the balance between producing assets, proven assets not yet on stream and exploration assets that could be worth a bundle one day. Soco has three wells in Vietnam. One disappointed the market severely last autumn, triggering a 40 per cent fall in the share price, but there may still be oil there. Soco now trades pretty close to the sort of asset values being put on the company by the City, suggesting the premium is down to bid hopes. A speculative punt for those who care for such, says the Times.

GKN chief engineers departure By Lee Wild Date: Thursday 24 Mar 2011 LONDON (ShareCast) - GKN, the blue chip aerospace and vehicles engineer, will wave goodbye to longstanding chief executive Sir Kevin Smith at the end of 2011. Sir Kevin has led the company for the last eight years – he became CEO in January 2003 - and had a seat on the board since 1999 when he headed the aerospace division. "GKN is a great company with a fantastic team of people. I am proud to have led them through a period during which we have transformed the group into a premier global engineering company,” he said Thursday. His place at the helm will be taken by Nigel Stein, former group finance director and boss of the automotive unit for the past four years. Earlier this month, GKN announced it had bounced back into the black in 2010 as all divisions bar aerospace saw good sales growth. Profits came in at £345m in 2010, a near £400m swing from losses of £54m the previous year. Sales rose by 20% to £5.1bn and by 22% on an underlying basis. Trading profit was £411m, up £255m, and trading margins more than doubled to 7.6%.

DfT reveals franchise runners & riders By John Harrington Date: Thursday 24 Mar 2011 LONDON (ShareCast) - Rail and bus operators are rushing out statements celebrating being on the shortlists for the east and west coast UK rail franchises. Stagecoach Group has welcomed the announcement by the Department for Transport that its joint venture group, Virgin Rail, has pre-qualified to bid for the new West Coast rail franchise, which is expected to start in April 2012. Virgin is the current operator of the franchise which is due to expire in March 2012. It will be in competition with FirstGroup. "We intend to offer compelling and innovative proposals to deliver high quality and attractive services for customers and improved value for taxpayers,” a statement from FirstGroup said. Meanwhile, Tony Collins, Virgin Rail group chief executive, said: "We now look forward to see what the government includes in the tender for the franchise. We intend to submit a very strong bid to retain the West Coast franchise, building on the investment and customer improvements we have made..” Over on the other coast, Go-Ahead Group professed itself delighted to have been shortlisted for the Greater Anglia Rail Franchise. “Greater Anglia is an excellent fit with our existing rail portfolio of Southern, Southeastern and London Midland,” claimed Go-Ahead’s chief executive, Keith Ludeman. The Greater Anglia Franchise is currently operated by National Express as National Express East Anglia and is due to end on February 5, 2012. The company will be competing against Stagecoach Group for the franchise.

DfT reveals franchise runners & riders By John Harrington Date: Thursday 24 Mar 2011 LONDON (ShareCast) - Rail and bus operators are rushing out statements celebrating being on the shortlists for the east and west coast UK rail franchises. Stagecoach Group has welcomed the announcement by the Department for Transport that its joint venture group, Virgin Rail, has pre-qualified to bid for the new West Coast rail franchise, which is expected to start in April 2012. Virgin is the current operator of the franchise which is due to expire in March 2012. It will be in competition with FirstGroup. "We intend to offer compelling and innovative proposals to deliver high quality and attractive services for customers and improved value for taxpayers,” a statement from FirstGroup said. Meanwhile, Tony Collins, Virgin Rail group chief executive, said: "We now look forward to see what the government includes in the tender for the franchise. We intend to submit a very strong bid to retain the West Coast franchise, building on the investment and customer improvements we have made..” Over on the other coast, Go-Ahead Group professed itself delighted to have been shortlisted for the Greater Anglia Rail Franchise. “Greater Anglia is an excellent fit with our existing rail portfolio of Southern, Southeastern and London Midland,” claimed Go-Ahead’s chief executive, Keith Ludeman. The Greater Anglia Franchise is currently operated by National Express as National Express East Anglia and is due to end on February 5, 2012. The company will be competing against Stagecoach Group for the franchise.

Ian Cheshire, Group Chief Executive, said: "We have delivered another year of strong profit growth and cash generation in what continue to be challenging times for our customers around the world. "Our 'Delivering Value' programme of self-help has been a great success so far with profits almost doubled since it started, return on capital up sharply and financial net debt eliminated. Despite significant economic headwinds over the last few years we are now a stronger, more valuable business. I am also delighted that we are now better able to accelerate our expansion where economic returns have been proven whilst also significantly increasing our dividend for our shareholders, many of whom are now our own colleagues. "Looking ahead, although I see no let up in the challenging environment in the short-term, I am excited by our future prospects. This year we will be stepping up the pace once more with a full set of activities in the final year of the first phase of 'Delivering Value' as well as mobilising the second phase, which is due to start in 2012. I believe we have an exciting growth opportunity, sustainable over the longer term, by creating a business that is the world's expert at making home improvement easier for customers. We are uniquely placed to use our scale, our network of international experience and our diversity for the benefit of our customers and shareholders."

http://www.investegate.co.uk/Article.aspx?id=201103240700165218D

http://www.investegate.co.uk/Article.aspx?id=201103240700125240D

Kingfisher matches forecasts By Lee Wild Date: Thursday 24 Mar 2011 LONDON (ShareCast) - Do-it-yourself retailer Kingfisher built profits by 19% last year, pretty much in line with market expectations. The B&Q owner made £671m in the year ended 29 January, up from £566m last time. The increase was 22.5% when adjusted for one-off items. Sales fell 0.5% to £10.45bn, in line, but rose 0.5% at constant currency. They dropped 0.9% on a like for like basis. Retail profit rose 15%, or over 16% at constant currency, as the French business added 12% to £348m, and UK & Ireland – B&Q and Screwfix - grew a fraction less to £243m. International was up 34% to £171m. Boss Ian Cheshire said the firm’s 'Delivering Value' programme had been a “great success”. It’s now two years into the three-year seven-step programme to improve cash returns, due to complete next January. A final dividend of 5.145p a share means a full-year payout of 7.07p, 28.5% higher than teh year before.

ClearStream H1 results in line By Caroline Jouan Date: Thursday 24 Mar 2011 LONDON (ShareCast) - Irish medical devices manufacturer ClearStream Technologies said half year revenues nearly doubled as it posted a net profit compared to a loss the same time a year earlier. The group, which supplies medical devices used in coronary and peripheral interventional procedures, reported net profit of €0.12M for the half year ended 31 January 2011 versus a net loss of €0.7m in 2009. Revenues for the period rose to €9.11m from €5.85m before. Operating profit came in at €155,227 compared to an operating loss of €654,237 a year earlier. Commenting on the results CEO Andy Jones said, "ClearStream has made a strong start to the current financial year and our results at the half year stage are comfortably in line with current expectations for the full year." ClearStream said it had a positive outlook for the second half of the financial year. Jones added, "The significant increase in production capacity engineered during the previous financial year has bedded down well; yields and gross margins continue to improve. Taken together with the recently acquired factory facility adjacent to our existing site, we now have the capacity to service production demand in excess of €30m per annum." Cash balances at period end of €1.6M unchanged from 2009. ClearStream said it had seen a continued upward trend in demand across all three sales channels: branded devices, co-labelling and OEM. It also noted strong accelerating demand for peripheral product from OEM channel.