Broker Watch featuring Goals Soccer Centres, Churchill Mining, Leed Petroleum, Zotefoams and ATH Resources

Thursday, Jul 01 2010 by
2
Broker Watch featuring Goals Soccer Centres Churchill Mining Leed Petroleum Zotefoams and ATH Resources

WH Ireland this morning retained a “buy” recommendation for Goals Soccer Centres (LON:GOAL) on news that first half sales were up on last year. Nevertheless, the broker was forced to once again reduce its full year earning forecasts for the group, which hasn’t really got over the closure of centres during heavy snow earlier in the year. However, it insisted that Goals remained an attractive roll-out story.

Astaire Securities cheered news from Churchill Mining (LON:CHL) that the mining group and its 25% partner Ridlatama Group, plan to increase coal production from the East Kutai Coal Project by between 10-35m tons per annum. The company is set to incorporate the additional production into a feasibility study that is due for release in the third quarter. Astaire said the increase in potential production “further demonstrates the financial viability of this potentially world class thermal coal asset”. Elsewhere, Astaire responded to news that Ascent Resources (LON:AST) had increased its stake in the Dolina shallow oil field at Petisovci in Slovenia by acquiring an additional interest from one of its partners. The transaction consolidates Ascent’s position at Petisovci where it now has 75% with the exception of deeper tight gas reservoirs in the original project area. Astaire said Petisovci was a critical project for Ascent and reiterated its 21p/share Risked NAV estimate.

Leed Petroleum Plc (LON:LDP) was downgraded from a “hold” to “sell” by Westhouse Securities, which said that problems were mounting for the oil and gas group as it faces considerable challenges with its Gulf of Mexico production assets. Leed this morning announced that net attributable production averaged 1,391 barrels per day in the last quarter, up 45% over the previous quarter. The company has also renegotiated its banking facilities to avoid breaching its covenants at June 30 and has agreed to a 2% interest rate rise on its outstanding loans. Elsewhere, Westhouse retained a “hold” advisory on oilfield services group John Wood Group (LON:WG.) , which reported that first half trading had been in line with expectations. Engineering, Production Facilities and Well Support are all performing strongly, but Power Support continues to experience maintenance deferrals by customers. Westhouse said that although the company’s business was sound, it considered that there was more value elsewhere in the sector.

Evolution Securities retained a “buy” recommendation at…

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Goals Soccer Centres plc is a United Kingdom-based company engaged in the operation of outdoor soccer centers. The Company operates in the United Kingdom and United States, and operates in the operation of soccer centers segment. The Company offers 5-a-side soccer centers across approximately 50 centers in the United Kingdom and one in Los Angeles, the United States. The Company's centers are in locations, including Aberdeen, Beckenham North, Beckenham South, Chingford , Coventry, Sheffield, Norwich, Sunderland, Teeside, Bexleyheath, Birmingham (Perry Barr), Birmingham (Star City), Black Country (Wolverhampton), Kingston (Tolworth), Bradford, Bristol North, Bristol South, Glasgow South, Wimbledon, Plymouth and Heathrow, among others. The Company's subsidiary includes Goals Soccer Centres Inc, which is engaged in the trading business. more »

LSE Price
27.2p
Change
 
Mkt Cap (£m)
n/a
P/E (fwd)
n/a
Yield (fwd)
n/a

Churchill Mining Plc is a United Kingdom-based company, which is engaged in the progress of the claim in international arbitration against the Republic of Indonesia (ROI) for breaches of Indonesia's obligations under the Bilateral Investment Treaty between the United Kingdom and the Republic of Indonesia and the Australia-Indonesia Bilateral Investment Treaty. The Company's principal activity and focus is arbitration claim. Its segments include the Indonesian and Australian corporate offices, which are administrative cost centers. Its East Kutai Coal Project is a thermal coal deposit with a Joint Ore Reserves Committee (JORC) resource of approximately 2.73 billion tons (comprising measured resource of approximately 693.3 metric tons, an indicated resource of over 825.1 metric tons and an inferred resource of approximately 1,211.8 metric tons). Its subsidiaries include Planet Mining Pty Ltd, PT Indonesia Coal Development, PT Techno Coal Utama Prima and PT Ridlatama Tambang Mineral. more »

LSE Price
37.75p
Change
 
Mkt Cap (£m)
n/a
P/E (fwd)
n/a
Yield (fwd)
n/a

Ascent Resources plc is an independent oil and gas exploration and production (E&P) company. The Company's portfolio consists of European onshore projects. The Company operates through two segments: Slovenia and UK. The Slovenia segment is engaged in exploration and development work. The UK segment includes head office. It operates the Petisovci tight gas project in Slovenia. The Company's project is operated through a local entity in a joint venture. The Petisovci Tight Gas Project is located in an area covering approximately 100 square kilometers in north eastern Slovenia. The Petisovci Tight Gas Project targets the development of tight gas reservoirs, which include Miocene clastic sediments. The structure has over two sets of reservoirs, the shallower Upper Miocene and the deeper Middle Miocene. It is focused on the development of the Middle Miocene Badenian reservoirs. Its subsidiaries include Ascent Slovenia Limited, Ascent Resources doo and Ascent Resources Netherlands BV. more »

LSE Price
0.23p
Change
2.2%
Mkt Cap (£m)
5.9
P/E (fwd)
2.0
Yield (fwd)
n/a



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