Gulf starts at Sheikh Adi-2 25/05/2012
Iraq-focused oil explorer Gulf Keystone Petroleum (GKP) has begun drilling at the Sheikh Adi-2 well in the Sheikh Adi block.
Newmark declares £2m security deal
Security group Newmark Security (NWT) has agreed a £2 million contract with a 'major high street bank.'
The AIM-quoted company clinched the agreement through its subsidiary Safetell-a provider of security such as security screens, reception counters and cash management systems. The company notes that it will provide 'supply service and maintenance support on a range of equipment for the major UK bank' which it adds has 'in excess of 2,000 branches nationwide.' The contract covers both the provision of its security services and the maintenance of equipment.
In an interview with Growth Company Investor finance director Brian Beecraft enthused that the contract win 'reflects the work that we have achieved' adding that 'we believe this could well lead to more work for our product division as our clients are likely to be impressed by our other offerings'
Looking forward Beecraft opined that 'our major customer base is financial institutions and we recognise that this is a difficult time for them however we also know they are looking to make cost savings.'
Following the contract win house broker Seymour Pierce reiterated its hold stance and its target price of 1.5p, with its forecasts currently under review.
Shares in the company rose 12.85 per cent following the announcement, and are currently trading at 1.58p. Newmark has never traded higher than 2.1p over the last five years, and have remained perennial penny shares. While the latest new bolsters its prospects over the coming years we think the shares have moderate growth potential. As a result we rate Newmark as a hold.
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Shell considers Cove 24/05/2012
Oil giant Shell is extending its offer period for Mozambique-focused Cove Energy (COV) after having its bid trumped by Thai government-owned PTT Exploration & Production.
Roxi reaches 1,360 metres 23/05/2012
Kazakhstan-focused Roxi Petroleum (RXP) has declared that its NK7 well in the Galaz aea has drilled to a depth of 1,360 metres.
Cluff Natural Resources joins AIM 22/05/2012
Steered by sector veteran Algy Cluff, North-Sea focused cash shell Cluff Natural Resources (CNR) has joined AIM.
Red Emperor exercises Shabeel 21/05/2012
Somalia-focused oil explorer Red Emperor Resources (RMP) has exercised its option to take part in the drilling of the Shabeel North well.
Heritage happy in Iraq 18/05/2012
Oil concern Heritage Oil (HOIL) has reported its Miran West-3 well in Iraq could deliver 1,000 barrels per day of condensate.
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