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Falkland Oil and Gas up; broker says "buy"

STOCKS NEWS Reuters Results diary Stocks on the move Real-time Equity News 11:03GMT 16Dec2008-Falkland Oil and Gas up; broker says "buy" ------------------------------------------------------------ Shares in Falkland Oil and Gas climb 3.2 percent as the company says it will acquire site surveys to assess drilling hazards across five different prospects, prompting Brewin Dolphin to reiterate its "buy" rating and 200 pence target price. Brewin Dolphin says: "We believe this represents another important step for Falkland as it moves towards drilling." The broker also notes the share price, which has tumbled 51 percent since the start of September, has been hit as the oil price has weakened, but says it "has been oversold in the recent correction of the sector." For more double click on Reuters Messaging rm:// 10:51GMT 16Dec2008-Vyke up; FinnCap upbeat on software release ------------------------------------------------------------- Shares in Vyke Communications are marked up 2.4 percent as the mobile Voice over Internet Protocol (VoIP) service provider releases a beta version of its mobile VoIP software and service for Blackberry devices using RIM software. FinnCap rates the stock as "buy", highighting in a note that Vyke is clearly moving towards the corporation end of the market and away from the consumer end, with products that cover Symbian, Windows Mobile, and now RIM devices. The broker believes that dramatically cutting mobile call costs at a time when all chief technology officers and chief information officers are undoubtedly being asked to reduce overheads should accelerate the growth trajectory for Vyke. For more double click on 10:50GMT 16Dec2008-Immoeast, Immofinanz rise on restructuring plan ------------------------------------------------------------------ Shares in battered Austrian developers Immoeast and Immofinanz rise 18 and 17.2 percent respectively as investors take stock of a restructuring plan Immofinanz says it has presented to creditor banks in a move to keep the company afloat. The plan lifts the shares depsite Immoeast saying on Monday it expects to make 1 billion euros worth of writedowns in its fiscal second quarter. "Re-financing of company's debt seems to be more important than (net asset value) adjustments, so we find the latter news more important and positive for the stock," Wood analyst Igor Muller says in a note, pointing out that many questions remain around both issues. For more double click on Reuters Messaging rm:// 10:38GMT 16Dec2008-Heritage Oil rises on Ugandan find ----------------------------------------------------- Shares in Heritage Oil rise 9.1 percent after the British oil exploration group and its partner Tullow Oil strike oil in Uganda. The find at the Buffalo prospect which it shares with Tullow is much larger than expected, taking reserves they have discovered in Uganda to over 400 million barrels, above the threshold needed to build a pipeline to Mombassa, Singer Equity Research says. The discovery could be worth about 150 pence per share on Heritage's asset value which is currently 206 pence a share, says the broker, which has the stock as a "buy" with a 300 pence price target. For more double click on Reuters Messaging rm:// 10:33GMT 16Dec2008--Credit Suisse falls 4 pct on broker downgrade ---------------------------------------------------------------- Shares in Credit Suisse fall 4.2 percent on Tuesday, underperforming a 0.4 percent decline in the Dow Jones Stoxx European banks index, as Morgan Stanley downgrades the Swiss banking giant to 'equal-weight' from 'overweight' and cut its price target to 38 Swiss francs from 59 francs. "Credit Suisse shares have been very volatile for some time and react very strongly to such things," a trader says, adding that this also had to do with the bank recently revealing a 3-billion-franc net loss for October and November. Reuters Messaging rm:// 10:12GMT 16Dec2008-Bowleven falls; Evolution starts as "reduce" --------------------------------------------------------------- Shares in Bowleven, the African focused oil and gas group, sink 8.7 percent after Evolution Securities initiates its coverage on the stock with a "reduce" rating and 25 pence target price. Evolution, which expresses its concerns over the group's attempts to farm out partners for both its EVO and Cameroon prospects, says: "In an overpopulated E&P sector there are better opportunities." The broker says Bowleven's shares have collapsed to the cash value ($43 million) on its balance sheet, which is insufficient to move the company forward, given the group's capex requirements are anywhere between $120 million to $270 million over the next few years. Reuters Messaging rm:// 10:11GMT 16Dec2008-Celesio falls as EU upholds German law on pharmacies ----------------------------------------------------------------------- Shares in German drugmaker Celesio fall 13.5 percent, as the top decliner among German midcaps after the European Court of Justice Advocate General delivers an opinion upholding German legislation, which reserves the right to own and operate a pharmacy exclusively to pharmacists. Celesio's DocMorris unit had been given initial approval from the German state of Saarland in June 2006 to operate a pharmacy in the state, but traders say the opinion appears to prohibit companies, which are not pharmacists, from owning and operating a pharmacy and will likely keep the Celesio unit from setting up competing pharmacies throughout the country. "The opinion is having a negative effect on Celesio shares and they declined rapidly after announcement of the opinion," a Frankfurt-based trader says. Reuters Messaging rm:// 10:02GMT 16Dec2008-BAT higher; RBS raises forecasts --------------------------------------------------- Shares in British American Tobacco rise 2.4 percent as RBS raises its 2008 and 2009 earnings per share (EPS) forecasts for the cigarette maker to reflect recent currency moves. RBS raises its 2008 EPS forecast to 126.9 pence, up from 126.5 pence, and hikes its 2009 estimate to 147.2 pence, up from 139.8 pence. "We continue to prefer tobacco within the European Consumer Staples group, reflecting the modest valuation of the shares, the considerable resilience of consumer demand in the face of a deep economic downturn and the strength of the cash flows," RBS said in a research note. RBS repeats its "buy" rating on BAT Reuters Messaging rm:// 09:33GMT 16Dec2008-Senior rises on reassuring trading update ------------------------------------------------------------ Shares in Senior rise 4 percent to 34.25 pence after the engineer says it expects to meet its year profit target and will benefit from cost savings and favourable exchange rates as well as the absence of a strike at one of its key clients, Boeing. Analysts at KBC Peel Hunt say Senior's trading statement is "reassuring" and that "decisive cost cutting actions in its automotive unit and unchanged earnings guidance" make the shares good value. "We see the current share price as a good entry point into what remains an intact story. We remain buyers and believe Senior is due a bounce," they say. For more, click on Reuters messaging rm:// Reuters Messaging rm:// COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

Share News for Falkland Og (FOGL)
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30/04/201507:00:46Falkland Oil and Gas Limited Final Results and Directorate Changes

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