Small caps recover from oil woe as drug M&A talk swirls
Small caps pare losses but Footsie drops nearly 20 points
Company
Chariot Ltd
LON:CHAR
Chariot is an Africa focused energy group with two core business streams: Upstream Oil and Gas and Renewable Power. Chariot’s Upstream Oil and Gas pillar is focused on building out a full value chain growth business within Africa. Alongside securing a footprint in Angola, Chariot holds a diverse portfolio in Morocco and is pursuing a range of new ventures across production, development and exploration opportunities. Chariot’s Renewable Power business is focused on providing competitive, sustainable and reliable energy through building, generating and trading renewable power in South Africa as well as progressing the development of its power-to-mining projects on the continent. Chariot is also continuing to advance its green hydrogen asset, Project Nour in Mauritania.
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Doha impasse sends oil shares tumbling
Iran avoided the need to walk out of the oil producers' meeting by not bothering to turn up in the first place
Stocks dip after oil talks fail, but drug M&A chat injects interest
Indices drop after Iran's absence at talks scuppers hopes of price freeze
Oil & gas highlights - Ascent Resources, Range, Regency, IOG, Chariot Petroleum, 88 Energy
Ascent Resources collapsed almost 70% because the proposed takeover by Cadogan Petroleum Plc’s (LON:CAD) fell through, as the deal would no longer be worth it.
Beaufort Securities boosts Chariot Oil & Gas
Broker upgraded the Africa and Brazil-focused oil explorer to a speculative buy
Investments and investor services
Small caps overshadowed by resurgent blue-chip miners
Mining bulls were hailing Janet Yellen's cuatious comments about interest rate rises as a weaker dollar sparked demand for mining shares
Resource stocks lead market higher
Mining stocks are surging ahead, dragging the Footsie higher
Risers and fallers: Metal Tiger PLC, Polo Resources PLC, Univision Engineering ...
Major share price risers and fallers in London at 4pm
Resource stocks head north as Ascent Resources PLC takes podium again
Small cap shares, notably resource stocks, along with Footsie were making ground at the open.
Chariot Oil & Gas Limited strikes Morocco deal with ENI
ENI has taken a 40% stake in the Rabat Deep exploration project, leaving Chariot with 10%. In return it will pay Chariot’s share of costs for the proposed JP-1 exploration well, anticipated in 2017.
Blue chips dip after Draghi decision but AIM stays steady
The FTSE AIM 100 Index rose 3.04 points to 3272 by mid-afternoon
Chariot Oil & Gas kicks off new 3D seismic offshore Namibia
The programme will explore some 2,600 square kilometres in the group’s central blocks, 2312 & 2412A.
Archive
Proactive news summary: AFC Energy, Atlantis Resources, Brady, Chariot, Forte Energy, Noricum ...
The day's small cap news was dominated by the latest UK oil & gas licensing round.
Chariot Oil & Gas still actively looking for new opportunities
Chariot, which expects to end 2015 with about US$39mln of cash, said its team is looking to “balance the risk profile with assets of suitable fit.”
Archive
Brokers: Retailers. Betfair, Lloyds Banking, Talk Talk
Betfair gets an upgrade to buy from hold from Deutsche Bank, which raised its price target to 4,200p.