- Ariana 1.01 0.00
- African Eagle 0.25
-0.03 - Aggreko 1,752.00 0.00
- African Min. 235.00 0.00
- Easyjet 1,279.00 0.00
- Frontier Min 2.50 0.00
- Hsbc Hldgs.uk 696.00 0.00
- North River 0.48
+0.04 - Rsa Ins. 120.40 0.00
Oil and gas round-up, Camco returns to profit
Wednesday, 12th September 2012
Camco International posted profits of â?¬1.1m from continuing operations for the six months to the end of June compared to â?¬2.6m a year ago and a full-year loss of â?¬29.6m for 2011.The company - a global developer of clean energy projects and solutions to reduce emissions - said cash and cash equivalents increased by â?¬1.7m to â?¬16.1m with adjusted net cash increasing by â?¬3.7m to â?¬11.7m at the period end from FY 2011.
Chief executive Scott McGregor said: "Camco's business has developed well during the year, returning to profit and generating cash.
"In H1 we continued to deliver on our strategy of developing and owning clean energy assets with success in North America and Asia."
Royal Dutch Shell has acquired acreage in Texas from Chesapeake Energy in a further step to build a leading portfolio of shale assets rich in oil and natural gas liquids.
The $1.935bn transaction is expected to close within 30 days.
This move is in line with Shell's strategy of further building an industry-leading liquids-rich shale resource. The acquisition provides both existing production and near-term growth potential from a proven resource, as well as promising opportunities for expansion.
The acquisition covers 618,000 net acres in the Permian Basin in West Texas that currently produces some 26,000 barrels of oil equivalent per day and has significant growth potential.
Shares in both Shell and BP were down slightly.
President has signed a Farm-In Agreement for two contiguous blocks in Paraguay.
The Farm-In Agreement provides for President to earn up to a 59% interest in the Pirity Block from Pirity Hidrocarburos (a subsidiary of PetroVictory); and up to a 60 per cent. interest in the Demattei Block from Crescent Global Oil Paraguay S.A. (a subsidiary of Crescent Oil LLC) in the Chaco region of Paraguay.
The combined blocks have a gross risked recoverable resource potential of greater than 150m barrels, with a net success case NPV10 estimated at over $25 per barrel (President estimates).
This is a significant transaction for the company in a relatively untapped region of the world, which is open for business. The transaction is a strategic fit for President, as the petroleum system is well known to the company through its operations across the border in Argentina.
Falkland Oil saw its shares jump nearly 20%.
At 4:27pm:
(LON:AUR) Aurum Mining share price was 0p at 2.5p
(LON:BOR) share price was +1.75p at 23.75p
(LON:BP.) BP share price was -2.37p at 440.63p
(LON:CAO) share price was +1p at 5.25p
(LON:CHAR) share price was -1.62p at 29.38p
(LON:DES) Desire Petroleum share price was +0.5p at 24.5p
(LON:DGO) Dragon Oil share price was +2.75p at 604.25p
(LON:ENQ) share price was +4.25p at 123.45p
(LON:FOGL) Falkland Oil and Gas Limited share price was +11.63p at 74.63p
(LON:GKP) Gulf Keystone Petroleum share price was -18.25p at 214.5p
(LON:GPX) share price was +0.13p at 128.38p
(LON:INDI) share price was 0p at 1005p
(LON:PET) Petrel Resources share price was 0p at 4.25p
(LON:PPC) share price was -3p at 22p
(LON:RDSA) share price was -5.75p at 2232.25p
(LON:RKH) share price was -1.37p at 178.88p
(LON:RPT) Regal Petroleum share price was 0p at 17.25p
(LON:XEL) share price was -3.25p at 120.25p
Story provided by StockMarketWire.com
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