Small US oilers join forces as funding issues weigh
Merger and acquisition deals this year have surged as oil prices have revived to US$50 a barrel
Company
LON:EME
Empyrean Energy PLC is a London AIM listed oil and gas explorer. The company is currently focused on three cornerstone assets with transformational potential: Block 29/11 offshore China; the Duyung PSC offshore Indonesia and a multi project participating interest in the Sacramento Basin, California.
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Merger and acquisition deals this year have surged as oil prices have revived to US$50 a barrel
Major shareholders James Kight and Richard Appleby, together owning 15.5% of the company, have requested changes to the Empyrean board.
UK shares remained in the blue to close Tuesday in positive territory.
Here, we take a look at some of London’s high profile oil stocks on most investor’s watch lists as the recovery in crude prices near US$50 per barrel.
The FTSE 100 Index gained 29.16 points to about 6181 by lunchtime
There is a glitch in the Matrix: two companies have placed shares and seen their share prices surge.
Iran avoided the need to walk out of the oil producers' meeting by not bothering to turn up in the first place
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Resources miner Regency Mines (LON:RGM) is back in the Horse Hill oil project...
Empyrean Energy has completed its sale of its 3% stake in the Suglarloaf AMI project in Texas’s Eagle Ford shale to Carrier Energy (CEP II) for US$61.5mln, it told investors.
Investments and investor services
Special situations helped boost small cap markets, M&A talk lifted Petroceltic
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A rollercoaster day saw the index open higher but head lower
FTSE 100 has dropped back close to a three-year low since the start of the new year
FTSE 100 was 30 points lower at 5,774 with oil stocks again bearing the brunt
The buyer is Carrier Energy (CEP II), a Houston-based privately owned specialist in US oil fields
Empyrean's exist from a US shale project looks well-timed
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A mixed but light corporate bag on the last full day of trading..
Below are the main news-driven share price movements at 4pm
Production in the three months to September rose by 5.6% to 114,982 boe