Another bruising board room battle at Gulf Keystone Petroleum by the look of it. Deputy Chairman Jeremy Asher is out and CEO Todd Kozel is “retiring” but remans on the GKP board as an Executive Director.

Zambian focused Berkeley Mineral Resources has had a topsy turvy week or so. For some who got out their profits they will be feeling pleased with themselves, for others its been another expensive lesson in AIM share trading. The episode certainly speaks of over exuberance by the management team at BMR and probably very badly worded RNS releases in the context of the source of the information i.e. the Zambian press. the shares have swung widely from 1.2p to  [read more →]

Some surprise news today from Cameroon focused oil explorer, Bowleven, with the announcement of a farm out deal for their Etinde permit with LUKOIL and NewAge.

The indices are marginally down today after Markit published its review of June European economic activity in the eurozone called the The Markit Purchasing Managers’ Index (PMI) with its lowest rating in six months

Despite all the worries about Iraq and rising oil prices, it was comments from Federal Reserve chair Janet Yellen that soothed any nerves and gave the equity markets a strong boost towards the end of the week.

As expected the Federal Reserve’s FOMC meeting had the desired effect and this time around the markets liked what they heard with the S&P 500 breaching another record high and the FTSE 100 currently up 55 points to 6,883.

Hurricane Energy (HUR) the North Sea, AIM listed, oil explorer focusing its effort on so called “fractured basement reservoirs” in granite formations in blocks 60 miles West of Shetland is due to report important news on its latest well in coming weeks.

It seems to be a case of all systems go for the UK economy right now, with solid economic growth, booming house prices and low inflation.

As well as the ongoing situation in Iraq investors are watching and waiting for news from the US Federal Reserve. The key Federal Reserve FOMC (Federal Open Market Committee) meeting begins on Tuesday with Chair Janet Yellen due to give a press conference on Wednesday.

Back in January I wrote a piece about controversial AIM share ViaLogy. Following a fund raising at the beginning of 2014 ViaLogy announced a change in corporate strategy with a plan to offload its oil and gas seismic imaging business.