Articles

Edison Investment Research today published a report on China Real Estate Opportunities entitled "Tender Offer Underway". In summary, the report says:

"Results for the year to 31 December 2009 were broadly in line with forecasts and February’s trading update. EPRA NAV/share in GBP was 14% down for the year overall, at £11.37, but recovered by 7% in H209. Income was stable in local currency, despite a fall in the average occupancy rate, due to increases of up to 5% in rents/sq metre. We covered operational progress including asset sales and refinancing in our recent update. As previously announced, CREO is currently engaged in initiatives to improve its equity rating, ie a tender offer to address a stock overhang, and a proposed..."

Edison Investment Research today published a report on Sqs Software Quality Systems Ag (SQS.L, LSE:SQS) entitled "Recovery Underway". In summary, the report says:

"Despite weaker than expected revenues, SQS reported slightly better than forecast FY09 earnings and has seen signs of recovery in several markets. We see FY10 as a recovery year, followed by a year of stronger growth as the company’s managed services business gains momentum and the IT services environment improves. The stock trades at c 11x FY10E adjusted EPS with a 3% dividend yield. "

Edison Investment Research today published a report on Allocate Software (ALL.L, LSE:ALL) entitled "Q3 Trading Update". In summary, the report says:

"Allocate’s trading update points out the scale of activity across the quarter to end February, encompassing the Time Care acquisition and a continuing flow of new contract wins, most notably in the healthcare sector. We are not changing our forecasts on the back of the statement, but point out that the expected strong earnings growth in the next full financial year will erode much of the premium. Our DCF indicates a price over £1, which would take better account of the installed base."

Edison Investment Research today published a report on Chime Communications (CHW.L, LSE:CHW) entitled "Year Of The Meerkat". In summary, the report says:

"Chime’s preliminary figures were ahead of expectations, showing organic growth well above the market in all four group activities. International business is now 46% of operating income, through following clients rather than setting up heavy overhead, with the Middle East and Africa key areas. Political uncertainty is the main dampener in all areas as decision making is put on hold. Until that is resolved, consensus earnings are likely to stay on hold, but the rating is nevertheless modest. "

Bpc (LON:BPC, 4.1p, ▼ (5.75%)) announced that the Company has placed a total of 69,842,860 new ordinary shares, at a placing price of 3.5p per share with institutional shareholders to raise approximately £2.4 million, gross of expenses. The Company intends to use the net proceeds from the Placing to provide additional working capital. Cove Energy (LON:COV, 41p, ▼ (2.96%)) announced the Company has conditionally raised approximately £25.7 million before expenses by the issue of 64,300,000 new ordinary shares at a price of 40p per ordinary share. New funds will be utilised for the Company's ongoing commitments in Rovuma Basin offshore Mozambique...

Fox Davies Capital today published a report on Ascent Resources (AST.L, LSE:AST) entitled "Production On-track In Hungary". In summary, the report says:

"Ascent Resources plc, through its subsidiary PetroHungaria kft, has successfully tested and completed the PEN-101 well, in the Penészlek area of the Nyírség exploration permits in eastern Hungary.  Once the rig has departed the site, the PEN-105 well will commence production to sales. The completion of the PEN-101 well is, as planned, in a Miocene gas bearing formation within a structure defined on the 3-D seismic acquired in 2008. Initial production rates achieved during preliminary testing exceeded 1.0MMscfd, and productivity is expected to be improved in the coming days by the use..."

Tullow Oil Plc (LON:TLW, PINK:TUWLF) announced this morning that their 2009 annual results were down on 2008, despite exceptional exploration developments. The group attributed the downturn to  a slump in production volumes and commodity prices. Tullow is one of the largest independent oil and gas exploration and production companies in Europe, quoted on the London and Irish Stock Exchanges. The Group has interests in over 85 exploration and production licences across 23 countries and focuses on four core areas: Africa, Europe, South Asia and South America.  In Africa, Tullow has production in Gabon, Côte d'Ivoire, Mauritania, Congo ...

Edison Investment Research today published a report on Statpro Group (SOG.L, LSE:SOG) entitled "SaaS Revolution". In summary, the report says:

"StatPro has released a solid set of results with revenue and operating profit slightly ahead of our forecasts. We understand the group has been experiencing a significant increase in interest in its new web-based product StatPro Seven, following a revised business model that significantly widens the target customer base, and StatPro Revolution is being launched for beta testing this month. These two new SaaS products have the potential to transform the business at a number of levels."

Fox Davies Capital today published a report on Gulf Keystone Petroleum (GKP.L, LSE:GKP) entitled "Two Out Of Two, Bijeel-1 Strikes Oil In Kurdistan". In summary, the report says:

"Gulf Keystone announced that Kalegran Ltd., a 100% subsidiary of MOL Hungarian Oil and Gas Plc. and the operator of the Akri Bijeel block in Kurdistan, concluded a successful oil test in the Bijeel-1 exploration well in the Akri Bijeel block. The tested zone is in the upper Jurassic and flowed at rates of up to 3,200 bopd with associated gas rates of 933,000scf/d. Oil gravity was 18oAPI and flowing wellhead pressure was 420psi on a 48/64" choke. Drilling operations are still in line with previously announced plans, following completion of the full test cycle, drilling will resume from the..."

Edison Investment Research today published a report on Epigenomics AG entitled "Positiver Ausblick". In summary, the report says:

"PRESEPT study issues have been resolved by sample retesting. The reasons for the outlier results have not been disclosed. The academic steering group has shown that test sensitivity (percentage of true cases) is 62.75%. The specificity is low at 89% (percentage of true negatives). Helpfully, the negative predictive value (NPV) was calculated at 99.7%; this is the probability that a negative test results is really negative. Sadly, the positive predictive value (PPV), the chance that a positive SEPT9 result is true, was not estimated. To be helpful, we calculate this at 3.56%."

Edison Investment Research today published a report on Brady (BRY.L, LSE:BRY) entitled "Positioned For Growth". In summary, the report says:

"In spite of the challenging market conditions, management notes there are signals that the pace in market activity is now increasing and we believe Brady is well placed to build on the momentum it has achieved over the last two years. The pipeline remains strong, support is being expanded to service global clients, and the group is positioned to benefit from the growing quality and scale of customers."

Oil & Gas News Gulf Keystone Petroleum (BUY, £2.00) (LON:GKP, 93.75p, ▲ (9.33%)) has negotiated with the Kurdistan Regional Government (KRG) to reorganise the Company's interest in Gulf Keystone Petroleum International (GKPI) following a material default by ETAMIC. Under the agreement the 50% shareholding of GKPI held by ETAMIC reverts to GKP. GKPI will then be a 100% subsidiary of GKP. GKPI will pay $40m to the KRG which is an Infrastructure Support Payment due and owing by ETAMIC, in return for GKPI maintaining its 80% interest in Sheikh Adi and 40% interest in Ber Bahr. Gulf Keystone will make a...

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."