11 February 2012

Sector: Resources

30/03/2010

US natural gas prices almost touched a six-month low recently. Inventory figures showed that stocks had fallen by only 11 billion cubic feet, against market expectations of a 28 billion cubic feet drop ahead of warmer weather and reduced demand.

Elsewhere in the sector, attention has focused on corporate deals. Unwelcome bid interest from India has thrust Gulfsands Petroleum, of which asset manager Schroders has 21.87 per cent, into the limelight on the back of its Syrian oil prospects.

African Barrick Gold, the London spin-off of Canada’s Barrick Gold Corporation, the world’s largest gold group, has raised £575 million. This is the largest float on the London market since December 2008 and was timed to catch investors’ present interest in African assets and gold in particular.

Among the minnows, rebel investors have requisitioned a special shareholders’ meeting to oust the board of ZincOx Resources and divert its remaining cash into steel dust recycling. Rebel leader Russ Robinson is a zinc industry veteran. 

Sector: Oil & Gas Producers

Companies: Gulfsands Petroleum

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