LONDON TRADING UPDATES: Castings Hails Return To Pre-Covid Levels
Fri, 26th Feb 2021 17:57
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:
Castings PLC - West Midlands-based iron caster - Notes monthly demand since November has been running ahead of pre-Covid levels but notes that while it has seen an improvement in demand production has been hampered by the need for more employees to self-isolate as UK Covid cases increased around the turn of the year. Assures however that this has now subsided and results for its financial year ending March 31 - which will be published on June 16 - are expected to be in line with market forecasts.
3 Oil Stocks Heating up for February: Genie Energy, SilverBow Resources, and VAALCO Energy
GNE – Crude oil continues to recuperate from a wicked 2020 demand shock. The industry has responded with a successful, herculean effort to safely operate essential assets in an unprecedented and challenging period. A widespread coronavirus vaccination effort and accelerating economic activity, coupled with global supply restrictions, have renewed optimism around the industry. As a result, stocks like Genie (GNE), VAALCO (EGY) and SilverBow (SBOW) could be heating up. Curious? Let’s dig in.
Feb 10, 2021
Global oil markets entered the new year with momentum, having hit a nine-month high in December. This can be attributed to a reviving global economy, with a resumption of industrial and economic activities. With a global COVID-19 vaccine roll out and easing of social distancing restrictions, global oil demand is expected to re
Gabon: VAALCO announces Etame acquisition update
04 Jan 2021
Sasol Gabon of Sasol’s 27.8% working interest
(1) in the
Etame Marin block offshore Gabon, the other joint owners in the Etame Marin block have not exercised their pre-emptive rights. As a result, VAALCO will now move forward with acquiring Sasol’s entire working interest in the field.
In regard to Block DE-8 offshore Gabon, the 60% operated participating interest owner, Perenco, has exercised its preferential rights. As a result, Perenco is acquiring Sasol’s 40% non-operated participating interest
(1), releasing VAALCO from the potential obligation to drill an appraisal well. VAALCO will not be subject to any contingency payments due regarding Block DE-8. The terms of the sale and purchase agreement did not attribute a material value to the undeveloped resource at Block DE-8, as such, the purchase price for Sasol’s 27.8% working interest