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Tower interest in Kenya block increased

Tower Resources’ interest in Kenya Block-2B has increased after Premier Oi exercised its right to exit the joint venture. Tower says it has received formal notification from block operator Lion Petroleum, the wholly-owned Kenya-based subsidiary of Taipan Resources, that Premier Oil has exercised its right to exit the joint venture with effect from 30 April. […]

Ithaca facing claim over misrepresentation

Ithaca Energy has received a statement of claim from a law firm regarding purported misrepresentation of information over the past schedule for completion of the ‘FPF-1′ floating production facility modification works being completed by Petrofac. The company says it vigorously refutes any such allegations and strongly denies any suggested wrongdoing. The company adds that it […]

Bahamas Petroleum update on Petroleum Bill

Bahamas Petroleum Company has noted a slight delay on the new Petroleum Bill and suite of associated regulations currenlty progressing through the Bahamian House of Assembly. Bahamas Petroleum says that following a procedural request by the Leader of the House of Assembly various amendments tabled by the minister for environment and housing at the time […]

FTSE 100 soars back above 7,000 level

The FTSE 100 index soared back above the 7,000 level after investors welcomed many aspects of today’s Queen’s Speech. At the close, the FTSE 100 was up 84.34 points, or 1.21%, to 7033.33. The FTSE 250 was 138.66 higher, or 0.77%, at 18,231.5. Wall Street opened higher with the Dow Jones index quickly rising over […]

Lansdowne notes update on Barryroe farm-out

Lansdowne Oil & Gas notes today’s preliminary results announcement by Providence Resources, which included an update on the status of the Barryroe farm-out process. Lansdowne holds a 20% working interest in Barryroe and the update stated: “In February, in response to media speculation, Providence confirmed that it had reached agreement on commercial terms with a […]

FTSE 100 falls below 7,000 level

The FTSE 100 index fell back below 7,000 today after shares fell in early trading in New York. There were also further worries over the looming debt crisis in Greece. At the close, the FTSE 100 was down 82.73 points, or 1.18%, to 6948.99. The FTSE 250 was 93.88 lower, or 0.52%, at 18,098.8. Wall […]

Regal gets additional assurances over Unex deposits

Regal Petroleum has received additional assurances regarding the security of its cash deposits in PJSC Unex Bank in Ukraine. Unex is a Ukrainian bank operating in 18 regions of Ukraine with approximately 32,000 customers and is part of the PJSC Smart-Holding Group, which is ultimately controlled by Vadim Novinskiy, who also controls an indirect 54% […]

SOCO downgraded by JP Morgan

JP Morgan Cazenove has downgraded its investment rating on United Kingdom-based oil and gas exploration and production company SOCO International (LON:SIA) to underweight from neutral following the recent share price rally and stating that the risks now appear to be skewed to the downside. Additionally, the broker said that it sees risks to the dividend […]

Shares fluctuate on London markets

Shares fluctuated on the London markets during the morning with investors returning after the Bank Holiday weekend facing a barrage of cautious economic data from the US and further worries over the looming financial crisis in Greece. Early gains quickly went into reverse. At one point the FTSE 100 was below 7,000 before starting to […]

Faroe Petroleum schedules AGM

Faroe Petroleum will hold its annual general meeting at the offices of FTI Consulting, 200 Aldersgate, Aldersgate Street, London EC1A 4HD, on 25 June at 11.00 a.m. At 9:58am: (LON:FPM) Faroe Petroleum PLC share price was -0.62p at 81.13p Story provided by StockMarketWire.com

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