08/02/10 | International oil & gas rig count
The latest survey of oil & gas rigs in action across the globe shows another month-on-month improvement in the US between December 2009 and January 2010, with figures for the rest of the world also on the rise. In the US, the numbers are still some way off this time last year, but activity elsewhere in the world is now up on 12 months ago. In total, the worldwide rig count for January was 2,773, up 264 on the previous month but down 201 on January 2009.
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05/02/10 | Melrose reports new discovery in Egypt
Oil and gas group Melrose Resources has reported a new gas discovery on its 100%-held South East Mansoura concession in Egypt. The South Damas No.1 well should now be on stream and producing within six months from an estimated reserve of 30 billion cubic feet of gas equivalent. Melrose is also carrying out seismic surveying on its Mesaha concession ahead of possible plans for a well there later this year.
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04/02/10 | Victoria Oil & Gas eyes resource boost
Exploration company Victoria Oil & Gas has spotted a possible major new hydrocarbon accumulation close to the current drilling site on its Logbaba gas and condensate project in Cameroon. The findings emerged during a passive seismic spectroscopy survey at Logbaba and follow last month’s success at Well La-105 (pictured), which is now being completed as a production well.
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03/02/10 | Mining IPOs predicted to surge
AIM listed mining companies managed to raise nearly £1 billion from investors last year ahead of what analysts reckon will be an opening of the floodgates for a fresh round of IPOs in 2010. Despite investor malaise for new company listings last year, the flood of secondary money into the market has sparked predictions that confidence is now strong enough to support new offerings.
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03/02/10 | Anglo Asian shares soar on outlook
Shares in AIM listed gold producer Anglo Asian Mining soared more than 30% to 14p this morning on news of record production in January and that the mechanical problems that had previously dogged the Gedabek mine looked to have been resolved. The report was welcomed by investors who were warned back in November that the company could run out of cash if there were any more production hiccups.
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02/2/10 | Ten predictions for 2010
Historian, author and strategic analyst Gregory R. Copley sets out his expectations for world geopolitics and economics in 2010. With the repercussions of economic disaster still being felt around the world, the scene is set for falling risk investment, rising tensions over energy supply, increasing unease over new and existing armed conflicts, widespread political posturing and the emergence of new strategic partnerships.
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01/02/10 | Oil and gas companies set for M&A boost
Recent news that the management team behind Rift Oil plc were regrouping to bring new exploration group Kea Petroleum to AIM told its own story about the positive expectations for oil and gas mergers, acquisitions and IPO activity in 2010. Indeed, new industry research suggests a positive outlook for oil and gas companies looking to do deals this year.
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29/01/10 | Interview: Professor Richard Conroy
Professor Richard Conroy knows a thing or two about running a small exploration business. As the chairman of AIM listed Conroy Diamonds and Gold plc, his company has spent ten years drilling away at what it suspects could be a new gold mining camp in Ireland. With the confirmation of a 1 million ounce resource already, the deposit is already larger than anything else that has been discovered in the British Isles, but there could be a great deal more to come.
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28/01/10 | Why I’m backing…Nighthawk Energy
Anyone buying and selling small cap shares over the last 18 months will be all too aware of the health risks involved. Despite the claims of huge value in AIM stocks by brokers and fund managers alike, making the right call is far from straight forward. SmallCapNews is now inviting investors to tell us which way their cash is going and why. In the first salvo, one plucky investor tells us why he’s backing perennial oil and gas favourite Nighthawk Energy as a jolly good bet.
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27/01/10 | Government launches 26th Licensing Round
A new round of exploration licensing for oil and gas acreage off the UK coast was today launched by the UK Government. While the DECC declined to give a firm date for announcing licence winners, the department has set a deadline of April 28, 2010 for applications to be in. It is expected to take two to three months to assess those applications before announcing the results.
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26/01/10 | Private equity set for deal flow boost
More than a quarter of private equity firms failed to make an investment in 2009 but the majority of those in the industry reckon the tide is turning and that 2010 should see rising numbers of investments. According to the latest analysis of market confidence, there is a consensus that the time is right to take advantage of lower valuations and spend some of the money that was raised prior to the economic downturn.
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25/01/10 | Serious fraud cases reach record highs
When a Scottish IT professional took it upon himself to print £185,000 of fake bank notes he struggled to convince police that he was pursuing a credible business venture. However, according to new figures, this case and £7bn of other serious frauds reached the courts during the last decade, peaking at £1.3bn in 2009. The numbers add up to a big fraud headache for UK authorities, according to accountancy firm KPMG.
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19/01/10 | Tough conditions hit UK offshore explorers
Offshore oil and gas exploration and appraisal activity in the seas off the UK dropped by more than 35 percent last year. The figures are thought to reflect a potent mix of macroeconomic misery combined with unpredictable rig availability and oil price volatility during the early part of 2009. This year, rising optimism among operators and improved activity levels should be helped by more stable commodity process and operating conditions.
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15/01/10 | IPO drought taints AIM performance
New analysis of the performance of the Alternative Investment Market (AIM) during 2009 has confirmed widely acknowledged views that while the lack of new listings was a disappointment, the soaring value of stocks and the ready access to secondary capital were a triumph for many companies. In 2010, the story looks set to continue, with all but the most secure IPO candidates expected to struggle to win over investors.
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