LSE Market News

Tullow Oil (LSE:TLW) is off to a good start in 2012, a position which has been accentuated by the strong financial position held in 2011, combined with new discoveries and partnerships. The Group is expecting their sales revenue to approach US$2.3 billion, more than twice its 2010 performance backed by “increased production and strong commodity […]

San Leon Energy (LSE:SLE) today released a statement on the progress of its exploration assets in Albania.   The company, which has a 100 per cent owned Durresi License (4,200 square kilometers) in Albania, has received the preliminary processed volumes from its 840 square kilometers 3D seismic survey undertaken from late last year. Western Geophysical […]

In separate statements issued today, Range Resources and Red Emperor Resources announced the commencement of drilling operations on the Dharoor Block in Puntland, Northern Somalia. The announcements are in conjunction with the earlier press release of the said block’s operator, Horn Petroleum Corporation, a quoted company on the Toronto Stock Exchange. It is the first exploration in 20 years...

Afren (LSE:AFR) released a statement announcing the discovery of oil off of South East Nigeria. According to the report, the drilling encountered 549 feet true vertical thickness (TVT) of net oil pay and 41 feet of net oil gas in “excellent reservoir sands” in the Okoro East exploration well. The well is located east of […]

Jubilee Platinum (LSE:JLP), a platinum producer operating in South Africa, saw its shares soaring to a third of its’ previous close. JLP stocks are trading at 16.35p as of press time, up by 4.125p from last Friday’s close. An article about the potential of the company referred the share price of JLP as a “bargain” […]

Robert Wiseman Dairies (LSE:RWD), one of UK’s leading provider of fresh milk, announced today, it has accepted the takeover bid by Muller Dairy (UK) Limited for £279.5 million. Shares of RWD have surged 59% from its January 12th trading prior to any announcement relating to any purchase offer, currently trading at 388.75p as of lunch […]

Genel Energy (LSE:GENL) said today that they will increase their interest in the Chia Surkh exploration block from 20 % to 80 %, thereby becoming the government’s sole contractor for the region. This initiative is largely seen as an essential strategy in the company’s attempts to strengthen its position in the region. Chia Surkh covers […]

AIM-listed exploration company Falkland Oil & Gas (LSE:FOGL) has announced today it will issue new shares to raise £48 million in line with the company’s drilling programme in the Falkland Islands. FOGL will commence trading of 112,764,675 new shares of 0.002 pence on 18 January at 43 pence per share, upon securing admission requirements, making […]

Despite widespread circulation of rumours of a takeover bid, Exxon Mobil and Gulf Keystone Petroleum (LSE:GKP) have yet to issue statements to shed light into the matter. The Shaikan block has been accredited in holding an average of over 10 billion oil barrels, where Gulf Keystone has the majority working interest of 75% of the […]

Stocks of AIM-listed Gulf Keystone Petroleum (LSE:GKP) closed on a high after GKP affirmed the authority of Government of the Kurdistan Region of Iraq over the company’s interests in the region, sparking renewed talks that a giant oil company may be interested in joining the oil exploration in the area or offering to buy the […]