Articles

One of the things that intrigues me about Pursuit Dynamics (LON:PDX) is that views on it are so polarised. Look at any of the bulletin boards - or at press comment on the company - and you'll find half the world seems to hate it, while the other half thinks it's the Second Coming. There doesn't seem to be much in the middle. The other thing that intrigues me is that the share price has rocketed over the last couple of weeks, particularly since the February 25th announcement. ...

Once again, they find a way to stick it to the elderly, poor and the meek. Last time they decided that giving $250 dollars to senior citizens was too much money because according to their brain dead methodology inflation was not a threat and so increase was necessary. Now they are looking for ways to collect on debt that was once forgiven or forgotten, and they want to go after those on fixed income. Talk about rubbing acid into open wounds.  The story below explains this terrible change of events in more detail. One also wonders why they have to...

Provexis (LON:PXS) announced today that it has completed the human trial comparing the effects of Fruitflow, its anti-thrombotic technology made from tomato extract, with aspirin. Provexis focuses on the discovery, development and licensing of scientifically-proven functional food, medical food and dietary supplement technologies. Results from the trial show that Fruitflow,  their patented, scientifically-proven extract, inhibits several pathways involved in platelet aggregation.  In contrast, Aspirin, an anti-inflammatory drug, primarily targets only one specific platelet aggregation pathway. The results demonstrate that Fruitflow is effective in preventing platelet aggregation, with no reported side effects. This means Fruitflow could potentially be used as a preventative measure in...

Empyrean Energy (LON:EME) announced this morning that drilling has begun at their onshore Texan well, Aquarius. A separate report was issued stating the company have reached total depth at another Texan prospect, the Hercules well. The company have a 10% interest in both wells. Empyrean Energy is a London-based company, established to finance the exploration, development and production of energy resource projects with a predominant focus on projects in geopolitically stable environments. Current projects include Riverbend (Texas, USA), Sugarloaf Hosston Project (Texas, USA), Project Margarita (Gulf Coast, Texas USA), Eagle Oil Pool Development Project (California, USA) and Glantal Gas Permit (Germany). According to the report, Aquarius...

Edison Investment Research today published a report on Westminster Group entitled "Seeding Future Growth". In summary, the report says:

"Westminster has revealed the impressive growth in hits and enquiries driven by its revamped website, a core tool for its international agents. The development of the website has been a key driver in increasing the visibility and route to market of the group worldwide, and the benefits are beginning to feed through to increased quotation activity and ultimately future potential business. We feel that when this is combined with the recently announced framework contract for the MoJ and further wins for RMS, the group is demonstrating its potential in the UK and abroad."

Edison Investment Research today published a report on Brainjuicer entitled "Aiming High". In summary, the report says:

"BrainJuicer’s preliminary results demonstrate that it continues to punch well above its weight in a weakened market research sector. The announcement of a second preferred supplier appointment by one of the world’s largest research buyers indicates the group’s revolutionary techniques are building credibility where it matters. Strong cash flows support ambitions to become a major player through continuing to invest in new product and new markets. The rating is being eroded by the superior earnings’ growth and does not look stretched in an international context."

Victoria Oil & Gas announced today that their Cameroon project, the La-105 well, is showing rates in excess of 55 million cubic feet of natural gas and 1,000 barrels of oil equivalent per day. Depths are reportedly between 7,005 -8,500 feet.  Victoria Oil & Gas is an independent oil and gas exploration and production company with projects in Africa and the FSU. The Company's principal assets are the Logbaba gas and condensate project in Cameroon and the West Medvezhye gas field in Siberia, Russia. Logbaba is located in Douala, the economic capital of Cameroon. The field was discovered in the 1950s...

Edison Investment Research today published a report on Lookers (LOOK.L, LSE:LOOK) entitled "Superb Performance". In summary, the report says:

"Lookers has delivered on its January trading statement, with a doubling of underlying pre-tax profits and a positive comment about the current year, which is running ahead of both internal budgets and the prior year. As we have indicated in earlier notes, there is a misconception in the City about the quality of earnings in certain leading motor dealership groups. Lookers has once again demonstrated the ability to grow in flat or modestly deteriorating markets. This factor is not recognised in the share price."

Circle Oil (LON:COP) announced this morning that the Egyptian Al-Amir SE-5 appraisal well has been successfully drilled, tested and is reportedly now ready for production. Listed on AIM in October 2004, Circle Oil is an international oil & gas exploration, development and production Company with a portfolio of assets in Morocco, Tunisia, Oman, Egypt and Namibia. The Company has expanded its portfolio over the past 2 years and now has assets in the Rharb Basin, Morocco; the Ras Marmour Permit in southern Tunisia; the Mahdia Permit offshore Tunisia; the Grombalia Permit in northern Tunisia; the Zeit Bay area of Egypt and the Owambo Basin, Namibia.  The Company today revealed that...

This week: Summit far from its peak, Cashbox in a hole in the wall and Sarantel picks up the right signal Ant (LON:ANTP 29.5p/ £7.16m) Ant, the software company that allows TV operators to manage their content and  provides customers with the ability to self-select services on demand, announced its 2009 year end results.  Revenues were up 26% at £4.7m (2008: £3.7m), a grand performance considering the challenging economic environment.  This reduced the loss before tax to £626,000 (2008: £1.013m), down 38% and with a  strong cash position of £5.05m (2008: £5.65m).  Ant signed 14 new licences, 7 of which were from...

Edison Investment Research today published a report on Fiberweb entitled "Ready For The Recovery". In summary, the report says:

"Fiberweb’s prospects remain healthy despite the uncertain economic environment. Restructuring initiatives supported robust 2009 results and increasing margin momentum in the second half helped push continuing operations into profit for the first time since Fiberweb’s 2006 demerger. Recent refinancing leaves the group in a strong position to pursue its goal to grow both organically and via acquisitions. The valuation, both on a peer comparison basis and DCF analysis, is undemanding. "

Edison Investment Research today published a report on Brewin Dolphin entitled "Strong Leverage Platform". In summary, the report says:

"Brewin Dolphin (BD) made a positive start to its financial year as income for Q110 increased 11.5%, and funds under management (FUM) rose 6% to £21.7bn. Investment Management revenue (the key to the group) was up 20.1% y-o-y. Since the December 2009 placing, the stock has underperformed and trades at a discount to its peers. BD’s growth strategy and its healthy balance sheet should secure good earnings momentum unless there is a significant downturn in equity markets. The 2010 dividend gives a yield of 5.5%, 1.8x covered by normalised earnings."

Edison Investment Research today published a report on Blue Star Capital entitled "Targeting A Growth Market". In summary, the report says:

"Blue Star Capital has transformed itself into a homeland security focused investment company with four core investments. The new management team has vast and complementary experience across defence, security, police and industry, providing a detailed understanding of emerging opportunities. We believe that the focus on the growing homeland security sector provides significant upside potential for Blue Star and the prospects for current investee companies are promising. With the added interest generated by the Digital Barriers flotation, we feel that Blue Star’s current valuation of a 20% premium to the published NAV is easily warranted."

Oil & Gas Corporate News Circle Oil (BUY, £0.80) (LON:COP, 37.5p, ▲7.1%) Circle Oil Plc announced that the Al-Amir SE-5 appraisal well has been uccessfully drilled and production tested in the Al-Amir Development Lease in the onshore North West Gemsa Concession in Egypt. The Kareem Formation Sandstones under test flowed 42oAPI oil at sustained average rates of 6,150 bopd and 6.9 MMscfd of gas using a 64/64" choke and at 4,300 bopd and 4.9 MMscfd of gas using a 48/64" choke from the upper of the two identified pay zones. The well, which is the fourth appraisal well to be drilled...

Tobacco giant British American Tobacco (LON:BATS) for one has recently reached all time share price highs and looking at recent results it is not difficult to see why.  In a recession dominated year in which top line growth was a very rare commodity, the company managed to boost revenues by 17%, ramp up pre tax profits by almost 11% and increase its dividend payout by 19%. BAT’s top line came in at £14.2 billion with various factors underpinning the result. Favourable exchange rate movements played a part, as did continued good pricing momentum, and the additional volume brought from 2008 acquisitions...

Edison Investment Research today published a report on K3 Business Technology Group (KBT.L, LSE:KBT) entitled "Growth In A Downturn". In summary, the report says:

"In a tough market, K3 beat our forecast to grow revenues y-o-y. Recurring revenues increased to 42.5% (FY08: 41%) and total revenues from existing customers reached 79%. Recent contract wins will generate further higher margin service revenues in 2010 and the DigiMIS acquisition will open up cross-selling opportunities. In our view, the current valuation is undemanding. "

Edison Investment Research today published a report on Hardy Underwriting entitled "Strong Result". In summary, the report says:

"2009 has been a strong year for Lloyd’s insurers, with Hardy no exception. But rates are softening as ample capital chases available business, even as investment earnings remain low. If underwriting discipline holds then returns will remain attractive and drive the book value growth that underpins share prices. Hardy benefits from the growth in premiums that will improve returns on capital raised in 2009. Dividend growth is set to continue at 10%. Hardy has a very strong underwriting track record but recent rapid growth through diversification has not been tested in a soft market and clearly represents a potential risk."

Pantheon Resources (LON:PANR) today announced that due to suitable rigs being currently occupied, the spudding of its second well on the Tyler County prospect has been delayed until May 2010.  The well operator, Vision Resources,  is said to have undertaken a comprehensive search for rigs capable of withstanding the Tyler County environment, which covers deep shale plays in East Texas and Western Louisiana. However, because of a lack of available suitable rigs in the area, the drilling schedule has now been put back to May 2010.   Although Pantheon are reportedly disappointed by this news, they are convinced that the quality of...

Edison Investment Research today published a report on SuperGen entitled "Dacogen Events Coming". In summary, the report says:

"SuperGen is approaching a key event in terms of the outcome of an Eisai-sponsored Phase III study of Dacogen in elderly AML, which is due in the next few weeks. If successful, this should allow label expansion of the product in the US (and filing in the EU). Meanwhile, the FDA should complete its review of the five-day Dacogen dosing regime in the next few days (PDUFA date is 8 March). Management guidance suggests of an up to 10% growth in revenues for FY10 looks conservative, while R&D costs remain budgeted to maintain cash flow neutrality. "

Valiant Petroleum (LON:VPP) announced today that production has been commissioned and delivery has begun at the Don Southwest and West Don prospect in the North Sea. Since incorporation in 2004, Valiant has built its core position in the northern North Sea, operating with a strategy to create a portfolio of exploration, appraisal, development and producing oil and gas assets by utilising synergies within its joint venture and field areas, active technical involvement and operatorship.  The oil and gas exploration company revealed today that production via the permanent pipeline export route to the nearby Thistle platform at the Don Fields prospect was commissioned...