Bowleven up on Petrofac oil alliance November 6, 2012 SHARES in Aim-listed oil and gas explorer Bowleven soared yesterday as it agreed an alliance with Petrofac to develop a project offshore Cameroon. Petrofac will provide the Africa-focused explorer, through its subsidiary Euroil, with up to $500m (£313m) towards the first stage of development and up to $60m towards well costs to develop the Etinde [...]
Aussie explorer Lochard hunts for a new buyer September 3, 2012 OIL and gas explorer Lochard Energy is putting itself up for sale. The exploration firm, which has a 10 per cent interest in the Athena field in the North Sea, last year tried to farm out two other discoveries, but offers fell short. Australia-based Lochard, which is listed on junior stock market Aim, said: “Following [...]
ADVISERS CAIRN BID FOR VEDANTA June 13, 2012 ROTHSCHILD, INVESTEC AND RBC CAPITAL MARKETS CAIRN worked with financial adviser Rothschild to make its bid for Nautical. James Smith, a long-time adviser to Cairn and director of Rothschild’s oil and gas team, took the lead. Smith counts French oil major Total and Bowleven among his clients. Rothschild has advised Cairn Energy on 11 transactions [...]
Bowleven pares losses as it strikes oil in Cameroon March 26, 2012 BOWLEVEN said yesterday that two of its exploration wells in the Douala Basin in Cameroon have found oil, as the West Africa-focused oil firm reported a narrower first-half loss. Bowleven, which has been in the news lately after Turkmenistan-focused Dragon Oil revealed it was in the early stages of making a bid for the firm [...]
Economic news drives quiet week for trading March 25, 2012 TODAY Investors in highly volatile oil and exploration stocks could face surprises this week, as some small-cap firms report, but the UK market should start off quietly. Volume may pick up in the afternoon with pending home sales from the US. Given mildly disappointing existing home sales figures last week, pending home sales could also [...]
Dragon Oil sees profits surge February 21, 2012 Dragon Oil said yesterday its profits surged 76 per cent in 2011, helped by a production ramp up at its Turkmenistan oil field and a higher oil price, though was silent on whether it would proceed with a takeover bid for explorer Bowleven. Dragon Oil posted full-year operating profit of $856.2m (£542m). It said in [...]
Punch broker set to settle with the FSA February 12, 2012 ANDREW Osborne, the corporate broker at the centre of the Greenlight Capital insider dealing case, has reluctantly decided he will not fight a £350,000 fine meted out by the Financial Services Authority (FSA) for his role in the affair. Osborne (pictured), whose clients at Bank of America Merrill Lynch included Tullow Oil, Cairn Energy, the [...]
BoA Merrill Lynch wants little Osborne fallout December 6, 2011 LOSING a star banker is obviously never easy for an investment bank, dependent as it is on a raft of client relationships. But losing a banker amid speculation of a regulatory probe is especially problematic, since the bank is forced to keep a lid on the reasons for the departure until the regulatory issues have [...]
Bowleven to raise $120m to fund Cameroon plans October 20, 2011 WEST Africa-focused oil firm Bowleven is seeking to raise $120m (£75.8m) via a placing to help fund the continued exploration and appraisal of an oil field it has discovered off the coast of Cameroon. The company said yesterday that without raising funds there would be a significant impact on its ability to carry out its [...]
Bowleven jumps on well news June 9, 2011 Shares in Bowleven jumped 8.6 per cent after the Africa-focused oil and gas explorer said its Sapele-1 well off the coast of Cameroon flowed oil at rates which it believes indicate a commercial development is possible. The company is waiting for the results of tests at the second Sapele well.