Broker Watch featuring Tower Resources, Circle Oil, Ithaca Energy, BP, BT Group, Hays and Equatorial Palm Oil

Thursday, Jul 08 2010 by
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Broker Watch featuring Tower Resources Circle Oil Ithaca Energy BP BT Group Hays and Equatorial Palm Oil

Astaire Securities this morning gave the nod to news from Tower Resources (LON:TRP) that the oil and gas explorer had got a 3D seismic survey underway on its acreage in Namibia, with the broker estimating that drilling could commence in early 2012. Tower also reported the conclusions of an independent technical report which has looked at historic seismic and well data to calculate net risked potential resources of 170mmboe with an expected monetary value of US$696m. Elsewhere, Astaire offered mixed views on communication technologies group Vislink Plc (LON:VLK), which said that first half trading had seen revenues fall. Despite making “considerable strides” in sorting out the business over the past 18 months with a reorganisation into four divisions, Astaire said the management still faced subdued short-term demand in its markets.

Fox-Davies Capital maintained a “buy” rating at Circle Oil (LON:COP) following yesterday’s announcement that the that the Al Amir SE-6X down-dip flank appraisal well had successfully tested a hydrocarbon bearing interval. The broker described this as “excellent news”, claiming that the Al Amir SE field was now clearly larger than expected and that the forthcoming testing of the Kareem sands would lead to an increase in ultimate recoverable resources.

Staying with oil and gas, Westhouse Securities highlighted plans by Ithaca Energy Inc (LON:IAE) to raise $150m which, combined with a new Bank of Scotland facility, is intended to finance all its projects through to first production. The company’s focus is to develop fields in the Greater Stella Area in the UKCS. Westhouse said the move was “clearly good news” continued to rate the shares a “buy”

Turning to BP (LON:BP.), Bill McNamara at Charles Stanley said the stock had been rallying hard since landing at 303p at the end of last month and the fact that yesterday’s 16.5p advance was driven by rising volumes reinforced the view that there could still be scope for further gains in the short to medium term.

Evolution Securities said that a new retail price plan by BT Group (LON:BT.A) for Sky Sports 1&2 was a loss leader as it prepares to up-sell Next Generation Access (NGA) services to its customer base in the medium term. It reckons BT is set to generate positive incremental returns for customers regained from LLU (local…

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Tower Resources plc is an upstream oil and gas exploration company. The Company has exploration projects in Cameroon, South Africa, Zambia, and Sahawari Arab Democratic Republic (SADR). The Company has two segments: Africa and Head Office. The Company is an operator of international licenses with a focus on projects in Africa. It holds an interest in Thali Production Sharing Contract (PSC) in Cameroon, which covers an area of approximately 120 square kilometers (kms) and lies in the prolific Rio del Rey basin, in the eastern part of the Niger Delta. It holds an interest in Algoa-Gamtoos license, South Africa, which covers an area of approximately 11,800 square kms. It also holds an interest in the offshore Guelta and Imlili blocks, and the onshore Bojador block in the SADR, which covers an area of approximately 72,700 square kms. It has interests in blocks 40 and 41 of the frontier Zambezi Basin, which covers an area of approximately 6,950 square kms. The Company has no revenues. more »

LSE Price
0.705p
Change
-2.8%
Mkt Cap (£m)
4.2
P/E (fwd)
n/a
Yield (fwd)
n/a

Pebble Beach Systems Group plc, formerly Vislink plc, is a software and technology company. The Company is engaged in the collection and delivery of video and data from scene to screen. The Company's Pebble Beach Systems division is a developer and supplier of automation, Channel-in-a-Box and content management software solutions for television broadcasters, cable and satellite operators. For the broadcast markets, the Company provides wireless communication solutions for the collection of live news, sport and entertainment. The Company's products include Marina, which is an enterprise level playout automation platform for multi-channel applications; Orca, which is an Internet Protocol (IP)-enabled cloud-based integrated channel delivery solution; Dolphin, which provides multi-format integrated channel delivery solutions based on information technology (IT) hardware, and Stingray, which is a self-contained Channel-in a-Box. more »

LSE Price
5.51p
Change
-4.2%
Mkt Cap (£m)
7.2
P/E (fwd)
n/a
Yield (fwd)
14.9




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