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.
Bango bags Amazon
Shares in web payments to analytics specialist Bango (BNG) have surged by 20 per cent this morning, on confirmation that it has secured Amazon as a client.
The statement is extremely brief due to the fact that Bango, having disappointed before, is unwilling to attempt to predict the likely impact it will have on its business. However, the agreement with Amazon is clearly significant and is the third major deal following the recent signings of Blackberry firm RIM and Opera as customers.
Bango is tight lipped on what it will be doing for Amazon, but it seems likely that it will involve providing a service that collects payments for Amazon customers buying apps from its store. The AIM counter would take a cut of each app purchased, and arrange payment from the content provider.
The Kindle Fire tablet has proved a big success, with estimates the device will sell 4.5 million units this quarter - all potential customers for apps. Indeed, with 18 billion apps downloaded this year, the agreement with Amazon, given its strong market position should significantly benefit Bango.
Interim results to September revealed a 18 per cent dip in sales to £8.7 million, as losses narrowed to £320,000 (2010: £460,000). Bango continues to further develop its products, to help further the types of transactions that can use its payments platform. This includes optimisation for the Android platform, as well as the development of a cloud-based offering.
Though early days, the Amazon deal has clearly excited the market. At 68p, the firm is valued at £26 million and probably has further to run.
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