BowLeven plans to deepen well
1st Nov 2011 08:31
Bowleven, the West Africa focused oil and gas exploration group traded on AIM, intends to deepen the Sapele-3 exploration well drilling in the Douala Basin, offshore Cameroon. The well, which is located about 16 kilometres north-west of the Sapele-1 well, is drilling in water depths of about 30 m
Read moreBowLeven shares drop after fund raising
19th Oct 2011 14:57
Oil and gas company BowLeven took a tumble after announcing plans to raise $120m through a placing of 77.5m new shares at 103p each. The share price fell to the placing price of 103p at one point, down from 115p overnight, before recovering most of the losses. Funds from the issue will be used, to
Read moreUPDATE: Wednesday broker round-up
19th Oct 2011 09:25
GlaxoSmithKline: Credit Suisse ups target from 1,310p to 1,340p, neutral rating kept. BHP Billiton: Credit Suisse reiterates outperform recommendation and 2,800p target. Standard Chartered: Credit Suisse keeps underperform rating and 1,400p target. Diageo: Nomura maintains neutral stance and 1,32
Read moreLondon close: Higher finish amid euro optimism
14th Oct 2011 16:46
The top share index closed off earlier highs but still buoyant ahead of the weekend amid optimism after Thursday's vote by Slovakia to expand the Eurozone' rescue fund lifted sentiment. After the close last night, the expansion of Eurozone's rescue fund, the European Financial Stability Fund (EFSF
Read moreLondon midday: Stocks rise after Slovak vote
14th Oct 2011 12:18
The top share index is buoyant after Thursday's vote by Slovakia to expand the Eurozone' rescue fund lifted sentiment. After the close last night, the expansion of Eurozone's rescue fund, the European Financial Stability Fund (EFSF), was approved by Slovak MPs, two days after they voted against the
Read moreBowleven finds oil off Cameroon
14th Oct 2011 10:44
West Africa-focused oil and gas group Bowleven has made a big discovery off Cameroon. The firm said it has come across "11 metres of independently assessed net hydrocarbon pay intersected within upper part of Deep Omicron interval" at the Sapele-3 exploration well drilling in the Douala Basin. The
Read moreUPDATE: Friday broker round-up
14th Oct 2011 08:59
Renishaw: finnCap downgrades from buy to hold, cuts target from 1,775p to 940p. Renishaw: UBS slashes target from 1,350p to 900p, neutral recommendation maintained. Renishaw: Singer Capital Markets slashes target from 1,350p to 900p, fair value rating kept. Royal Bank of Scotland: Evolution Secur
Read moreLondon close: FTSE 100 rallies despite retail gloom
9th Jun 2011 16:31
Shares rallied in the afternoon after a good start on Wall Street where stocks won back some recent losses. Engineer Weir Group was the highest riser after its earnings estimates were lifted by RBC Capital Markets. There have also been reports today that two companies in China have been given fine
Read moreBroker snap: Matrix pleased with Bowleven's test results
9th Jun 2011 12:58
Matrix has said that the Bowleven's test results for the Sapele-1ST (side-track) well were better than expected in light of pre-test expectations, and maintains its 'buy' rating and 390p target price. The well, located in the Douala Basin, offshore Cameroon, was drilled to a true vertical depth of
Read moreBroker tips: Domino's, Bowleven, Moneysupermarket.com
9th Jun 2011 12:58
Panmure Gordon reduced its earnings forecasts for Domino's Pizza, reflecting the impact of start-up losses as part of the group's German expansion. "Management guidance is that expansion into Germany will dilute earnings per share (EPS) by circa 3-4% per annum [in] 2011-13." After factoring in the
Read moreLondon midday: FTSE 100 unchanged despite retail slump
9th Jun 2011 12:14
Retailers are heavily under the cosh today after a raft of gloomy updates, but the top share index is little changed as investors await US jobs data due later in the afternoon. Ongoing difficulties at the catalogue-based retailer Argos continue to plague its owner Home Retail Group, which has annou
Read moreBowleven jumps after tests reveal high quality oil
9th Jun 2011 09:17
Bowleven, the West Africa-focused oil and gas explorer, saw its share price jump by more than a tenth on Thursday after tests at its Sapele-1ST (side-track) well showed flow rates believed to be commercial. The well, located in the Douala Basin, offshore Cameroon, was drilled to a true vertical dep
Read moreLondon close: Shares soar as updates impress
20th Apr 2011 16:47
Optimism returned to the markets in a big way Wednesday as corporate results in the UK and overseas suggested global economic recovery is underway. The FTSE 100 stormed back above 6,000 points. Chip groups ARM Holdings and Imagination Technologies were strong performers after a bullish update from
Read moreLondon midday: FTSE 100 storms past 6,000
20th Apr 2011 12:03
The top share index has soared back above the 6,000 point mark, with some well-received corporate news here and overseas whetting traders' appetites. ARM Holdings is leading the FTSE 100 higher after a strong update from its US peer Intel, while miners move ahead as metals prices advance. Antofagas
Read moreBowleven drilling disappoints
20th Apr 2011 11:46
Shares in Bowleven dived after the AIM-listed oil explorer announced drilling results from the Sapele-1ST well offshore Cameroon. The well encountered a total of 23 metres of net hydrocarbon-bearing pay, Bowleven said. "The initial log evaluation is encouraging as it endorses the presence of ligh
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