Frontera Resources, the Georgia- (USA) focused oil company has reported falling revenues for full year 2011. Crude oil sales fell from 8.3m dollar in 2010 to 7.4m dollars in 2011. The company also completed a restructuring during the year resulting in a net loss of 119.9m dollars compared to 63.9m dollars in 2010. Earnings per share came in at 13 cents. By 11:50 the shares had fallen 15.3 per cent.
Ariana Resources, the gold miner focused on Turkey had risen 2% by midday after one of its directors, Managing Director, Kerim Sener bought 300,000 shares in the firm. Sener now holds 1.71% of the stock.
Copper Development (CDC), the exploration company focused on the Philippines, rose in morning trading after revealing a Joint venture agreement for 70% interest in its Basay project. The site has already yielded "long, high grade intersections" and has the potential to become a "world class" asset, according to the firm. CDC has now converted a debenture loan into a 70% stake.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Gold Oil, an oil and natural gas explorer focused on South America, says there "can be no certainty" that it will complete a farm-in at its concession in Peru. The firm is also experiencing delays at its Azar block in Colombia. The stock was down 5.5% at 11:55.
BS
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
