Kenneth G. Mondero

Finding only 50 metres of “fairly poor quality” reservoir after drilling a depth of over 5,000 metres into the Atlantic Ocean was enough to send the shares of the well operator, Falkland Oil & Gas Limited (LSE:FOGL), into the deep. The Scotia well, the second of the two-well programme performed by the AIM-listed oil and […]

Independent oil and gas explorer and producer, Tullow Oil plc (LSE:TLW), has made its second oil discovery in Kenya, Africa but the find failed to spike market value. In a statement issued today, the London-listed constituent of the FTSE 100 said the Twiga South-1 exploration well encountered 30 metres of net oil pay after drilling […]

If you can’t get your hands off of a very valuable piece of property located within the largest oil sand reserves in the world through a joint venture because you can’t agree with the details of the contract, buy the other company instead. Such is the plan of Mauricio Trevino Zambrano, a minority shareholder of […]

Shares of iron ore producer, African Minerals Limited (LSE:AMI), closed an eighth lower than their value on the London Stock Exchange today, after the mining firm admitted its current financial capacity is limited even as it released over half a billion dollars of fund and is in discussions with lenders to extend credit. African Minerals, […]

After nine months of intense negotiations and 11th hour calls, shareholders of Anglo-Swiss commodities and mining giants, Glencore plc (LSE:GLEN) and Xstrata plc (LSE:XTA), have finally approved the “merger of equals” to create a global natural resources powerhouse. However, Xstrata shareholders rejected the £88 million Revised Management Incentive Arrangements, which would have provided...

Africa- and South America-focussed oil and gas exploration firm, Clontarf Energy plc (LSE:CLON), led the gainers by percentage on the London Stock Exchange earlier today following advance discussions of possible partnership to develop its two wholly-owned acreages in Peru. The AIM-listed Clontarf gained as much as 40% by midday to 5.25 pence after saying that […]

Shareholders of leading platinum producer, Lonmin plc (LSE:LMI) approved the proposed rights issue to raise funds needed to rehabilitate the company’s balance sheet following the multi million pound losses incurred during the tragic events at its South African mines. In a statement early afternoon today, world’s number three platinum miner said about 91.1% of the […]

Jack up rig builder Lamprell plc (LSE:LAM) still enjoys the confidence of its creditors, the company hinted today, even as it revealed there will be a “much greater loss” than previously projected when the current financial year ends following delays in delivery of major projects supposedly scheduled to be completed this year. In a statement, […]

BP plc (LSE:BP.) makes history again after agreeing to pay the largest criminal fine in the United States jurisprudence to date, in relation with the Deepwater Horizon explosion in 2010 that claimed 11 lives and caused the costliest oil spill in history. Eight hours after the London-based oil giant announced it is in “advanced discussions” […]

Poised to end the year with a much lower production than what had previously been reduced, Talvivaara’s Board of Directors revamped its composition resulting in a change of leadership as its Chief Executive Officer was replaced, a day after the Finland-focussed nickel and zinc producer announced the metals recovery plant is still shut following a […]