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.
Nature awaits investigation results
Port facilities and waste water treatment specialist Nature Group (NGR) says it should soon recover its explosion-damaged Gibraltar facility. The AIM-quoted company suggests an independent investigation into the recent blast by the Gibraltar government should take 'about a week', after which it insists it is 'confident' the financial impact of the incident will be 'limited to higher logistical costs' and says future cargo operations will be 'temporaily diverted to other locations'.
Chaired by Richard Eldridge and based in Jersey, Nature Group, which has cited a welding accident as a possible cause of the explosion, says it is conducting its own investigation into the incident and, together with its insurers, hopes to have a 'full report on damage and cause within the next few weeks'. Recently transformed by the takeover of Dutch offshore waste collection group International Slop Disposal (ISD) and its subsidiary Ecoscrub, the company indicates it hopes to provide a further update to shareholders when insurers' and independent survey reports are completed, 'hopefully before our annual shareholders meeting on 14 July'.
Highlighted by Growth Company Investor as a 'long-term speculative buy' at 69p earlier this month, Nature shares, which have traded between 37.5p and 97p over the past year, now change hands at 67.5p, up 1.5p today, and value the company at £53 million. If you have a long-term perspective and can accept risk, hold on.
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