LSE Market News

Independent oil exploration company Cove Energy (LSE:COV) has received bidding from BP for a possible takeover. Neither company has released any statements regarding the news. BP is the latest addition to the growing number of companies reported to be interested in acquiring Cove Energy since it opened itself up for a bid on 5 January […]

Dragon Oil (LSE:DGO), the oil and gas company based in Dubai, United Arab Emirates recorded a huge increase in growth for 2011. The company’s production of oil increased to 61,500 barrels of oil per day during the previous year. Remarkably, this represented a 30% increase from 2010. Reasons for Impressive Growth The company’s impressive growth […]

Vodafone Group (LSE:VOD), the telecommunications giant, has been exonerated from paying taxes and penalties totaling to $4.4bn (£2.8bn) by the Indian Supreme Court.  The verdict could come as good news to other foreign corporations, which have been charged in court on similar grounds. Accusation against Vodafone Vodafone was accused of not paying the required taxes […]

SABMiller (LSE:SAB), one of the largest brewing companies in the world, today said they were able to record excellent volume growth in line with expectations, despite having declines in sales in certain regions for the third quarter ended 31 December 2011. Improving growth In Latin America, lager volumes indicated a strong growth, with volumes increasing […]

AIM-listed President Petroleum (LSE:PPC) released a statement today estimating 50 million barrels of oil that was not previously accounted for has been discovered at the Pozo Escondido Field in Argentina. Previous figures at PE field indicated that there were only 20 million barrels of cretaceous stacked oil in place. The PEE-1001 well in the Pozo […]

BHP Billiton (LSE:BLT), the world’s largest mining company, is predicting increased iron ore production in the current financial year, disregarding earlier predictions of a slowdown in the global economy. The prediction comes as BHP reported that its second-quarter iron ore production increased by a better-than-expected 22% . The company said ore production was 41.1 million […]

Tullow Oil (LSE:TLW) is off to a good start in 2012, a position which has been accentuated by the strong financial position held in 2011, combined with new discoveries and partnerships. The Group is expecting their sales revenue to approach US$2.3 billion, more than twice its 2010 performance backed by “increased production and strong commodity […]

San Leon Energy (LSE:SLE) today released a statement on the progress of its exploration assets in Albania.   The company, which has a 100 per cent owned Durresi License (4,200 square kilometers) in Albania, has received the preliminary processed volumes from its 840 square kilometers 3D seismic survey undertaken from late last year. Western Geophysical […]

In separate statements issued today, Range Resources and Red Emperor Resources announced the commencement of drilling operations on the Dharoor Block in Puntland, Northern Somalia. The announcements are in conjunction with the earlier press release of the said block’s operator, Horn Petroleum Corporation, a quoted company on the Toronto Stock Exchange. It is the first exploration in 20 years...

Afren (LSE:AFR) released a statement announcing the discovery of oil off of South East Nigeria. According to the report, the drilling encountered 549 feet true vertical thickness (TVT) of net oil pay and 41 feet of net oil gas in “excellent reservoir sands” in the Okoro East exploration well. The well is located east of […]