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.
Customer engagement software firm Netcall (NET) has confirmed it is trading in line with market expectations for the year to December 2011.
In a brief trading update, Netcall says it has secured a good level of orders from new and existing customers, while it has also identified further opportunities to boost efficiencies. The AIM company also continues to generate cash - up from £5.9 million in June to £7.2 million at the year end.
We suggested buying the shares in November at 19.5p, largely due to the ongoing benefits of its Telephonetics acquisition. The deal brings considerable scope to cross-sell across the enlarged client base, which spans over 600 customers. Particularly as many are taking just two Netcall solutions out of a potential five to seven.
Moreover, the Eden package opens up new doors beyond traditional telephony to potentially larger markets such as data integration and workflow management. By helping customers increase efficiency and reduce costs, the solutions provided by Netcall are clearly gaining increased traction.
Broker WH Ireland predicts 2011 pre-tax profits of £2.5 million and EPS of 1.5p. Preliminary results are due on 27 Feburary, which should confirm the ongoing progress at Netcall. With a cash strong balance sheet, this well managed company has much further to go. Buy at 19.5p.
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Iraq-focused oil explorer Gulf Keystone Petroleum (GKP) has begun drilling at the Sheikh Adi-2 well in the Sheikh Adi block.
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.
Kazakhstan-focused Roxi Petroleum (RXP) has declared that its NK7 well in the Galaz aea has drilled to a depth of 1,360 metres.
Steered by sector veteran Algy Cluff, North-Sea focused cash shell Cluff Natural Resources (CNR) has joined AIM.
Somalia-focused oil explorer Red Emperor Resources (RMP) has exercised its option to take part in the drilling of the Shabeel North well.
Oil concern Heritage Oil (HOIL) has reported its Miran West-3 well in Iraq could deliver 1,000 barrels per day of condensate.