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Waterford repeats call to oust Gulfsands’ directors

Waterford Finance & Investment has repeated its call to Gulfsands Petroleum’s shareholders to oust chief executive Mahdi Sajjad and commercial director Kenneth Judge. Gulfsands announced on Friday that Arawak Energy International has decided to terminate the strategic cooperation agreement between the companies and would ‘not hesitate to act to enforce its rights’ under the $20m […]

IGAS downgraded by Westhouse

Westhouse Securities has downgraded its recommendation on AIM quoted IGAS Energy (LON:IGAS) to ‘neutral’ from ‘buy’ following news that Lancashire County Council has denied permission for Cuadrilla Resources’ two proposed shale gas wells. The broker also highlighted the recommendation by the Environmental Audit Committee (EAC) that there should be a moratorium on shale gas fracking […]

FTSE off lows as Greece’s Syriza forms coalition

FTSE indices were down but off earlier lows after Greek anti-austerity party Syriza formed a coalition government with right-wing Independent Greeks. It looks bound for a collision with the EU over Greece’s massive bailout. Falling resources stocks were also ballast. Near noon, FTSE 100 was down 24.02 points, or 0.35%, to 6808.81. FTSE 250 fell […]

Frontera issues reminder over adjourned AGM

Frontera Resources has reminded shareholders of the importance of submitting their votes ahead of the adjourned annual general meeting which is being held on 5 February. The company says that any further forms of proxy submitted before 11:00 a.m. CST (5:00 p.m. GMT) on 3 February and any further forms of instruction submitted before 11:00 […]

Modern Water installs first Microtox CTM in US

Modern Water has recently launched an updated continuous toxicity monitor using its well-known Microtox technology. Demand for this ground-breaking monitor has been high with the first unit being installed just after its launch at one of Aqua America, Inc.’s water treatment plants in Pennsylvania in the United States of America. The Microtox CTM is unique […]

Global warns of write down on Bocachico reserves

Latin America-focused Global Energy has warned it will have to write down the carrying value of its Bocachico contract area assets due to the sharp drop in oil prices. The company says the significant decline in prices caused the company’s heavy oil reserves within the Bocachico contract area to be uneconomic at 31 December. Global […]

Enegi Oil schedules AGM

Enegi Oil will hold its annual general meeting at the Walter Suite, Radisson Edwardian Manchester, Free Trade Hall, Peter Street, Manchester, M2 5GP, on 19 February at 11.30 a.m. At 3:54pm: (LON:ENEG) Enegi Oil PLC share price was +0.01p at 1.08p Story provided by

Arawak terminates agreement with Gulfsands

Gulfsands Petroleum says Arawak Energy International is terminating the strategic cooperation agreement between the companies and might also terminate the $20m convertible loan financing. The companies announced the strategic cooperation agreement for the acquisition and development of new business opportunities in the Middle East and North Africa region and the $20m convertible loan facility on […]

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Paul Hodges: house prices could fall 50% in 'Great Unwinding'

Merryn Somerset Webb interviews Paul Hodges about deflation, the global economy's 'Great Unwinding', and how Britain's house prices could halve.

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26 January 1808: Australia's Rum Rebellion

On this day in 1808, Major George Johnson carried out the only forceful takeover of power in Australian history during the Rum Rebellion.