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Paul Vonk, Managing Director at Angus Energy PLC #ANGS discusses the latest developments at Horse Hill with Zak Mir.
Angus Energy ANGS says it has successfully completed the drilling of the Lidsey-X2 production well. Angus will produce from a “net oil pay” section of 443 metres from the Great Oolite limestone reservoir. MD Paul Vonk said he was “encouraged the site offers further scope for development.”
Ashmore Group ASHM updates on trading for Q1 and says AuM increased by $6.3bn while gross redemptions continued to fall quarter-on-quarter, delivering the highest net inflows for four years. Performance of the Group’s funds against benchmarks continues to be very strong over one, three and five years.
GKN GKN updates on trading and says it has been made aware of two commercially sensitive claims for GKN Aerospace and GKN Driveline which are expected to result in a charge of around £40m in Q4 2017. Overall in Q3, GKN achieved good organic sales growth, with GKN Driveline continuing to outperform the market and GKN Aerospace delivering sales slightly up on the prior year.
Man Group EMG updates on Q3 trading and says FuM grew 28% year to date to $103.5bn at 30 Sept 2017. Net inflows in the quarter of $2.8bn were driven by strong inflows into alternative risk premia and emerging market debt strategies.
Provident Financial PFG updates on trading, and says a home credit business recovery plan has been developed under new leadership to re-establish relationships with customers, stabilise the operation of the business and improve collections performance. Progress to date is in line with the recovery plan and is consistent with the guidance provided on 22 Aug 2017 of a pre-exceptional loss for the Consumer Credit Division (CCD) in a range of between £80m-£120m for 2017 as a whole. The search for a new CEO is underway.
Fastjet FJET says it has made steady progress in implementing stabilisation efforts, including inter alia, a re-fleeting process, relocation of its headquarters from London to Johannesburg and a right-sizing of its operations in Zimbabwe and Tanzania. Accordingly fastjet aims to achieve a cashflow break-even position for the final quarter of 2017. The Company also announces that it has, on 29 June 2017, entered into an agreement with easyGroup Holdings Ltd to acquire all intellectual property rights associated with the fastjet brand for a total consideration of $2.5m, to be satisfied in cash, resulting in saving to the Company over the next 5 years. This agreement represents a major step forward as the Company continues with its stabilisation efforts under new management. Bye bye Stelios!
Angus Energy ANGS increases interim LBT of £(985,000) (2016: LBT £344,000). Says production guidance for the Lidsey Oil Field remains unchanged while production from the Brockham Oil Field could improve materially after bringing X4Z on stream from the Kimmeridge.
John Laing Group JLG says its investment portfolio as a whole is performing in line with expectations in a pre-close update for the half-year ending 30 June 2017.
Trinity Mirror TNI updates on trading and says group revenue is expected to fall by 9% on a like for like basis over the period. CEO Simon Fox said: “The trading environment for print in the first half remained volatile but we remain on course to meet our expectations for the year. I anticipate that the second half will show improving revenue momentum as we benefit from initiatives implemented during the first half of the year.”
Brand CEO Alan Green talks Angus Energy (ANGS), Feedback (FDBK), Advanced Onco (AVO) & Swallowfield (SWL) on the VOX Markets podcast
Brand CEO Alan Green talks Angus Energy (ANGS), Feedback (FDBK), Advanced Onco (AVO) & Swallowfield (SWL) with Justin Waite on the VOX Markets podcast. Interview starts at 46 minutes 20 seconds.
Brand CEO Alan Green discusses IG Group (IGG), Premier Oil (PMO) & Angus Energy (ANGS) on Vox Markets podcast
Brand CEO Alan Green discusses IG Group (IGG), Premier Oil (PMO) & Angus Energy (ANGS) with Justin Waite on the Vox Markets podcast. The interview is 13 minutes 55 seconds in.