LONDON (AFX) - Traders were keen on Star Energy Group, 15 pence up at 279,
following news that the company has signed a deal with Virgo Energy, which is
being acquired by EnCore Oil, to farm into Virgo's UKCS block 43/8 Forbes field
in order to undertake a feasibility study and a 3D seismic survey to determine
the field's suitability as a gas store.
Yet another upbeat trading statement provided the spur to Axon Group, 30-1/4
ahead at 586-3/4. The business transformation consultancy said results for the
year ending Dec 31 will exceed current market expectations, with pretax profit
of at least 21 mln stg and revenues of at least 135 mln stg.
It reported a healthy pipeline and a good order book for 2007, and said it
was "on track" to meet market expectations for the next year.
In response, Altium's Jonathan Imlah told clients that the stock remains a
core sector holding and he reiterated his 700 pence price target.
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