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.
PR concern Next Fifteen Communications (NFC) has reported what it describes as a 'solid start to the current financial year'.
The AIM-quoted outfit issued an update since the start of the current financial year (August 1) in which chairman Richard Eyre remarked the company expects interims for the six months to January to show 'growth in both revenue and profits' boosted by a 'strong performance' in its digital business.
The group also remarked on the acquisition of German technology PR specialists Trademark, purchased last October in a deal worth a total of €4.5 million (£3.8 million), arguing it will 'help us build a strong presence in this important market'.
Next insists that 2012 will be 'another year of growth' despite the economic uncertainty which 'continues to impact clients businesses and overall marketing spend'. It reaffirmed there was a 'continued shift away from traditional PR services towards digital marketing and communications activities'.
Analysts at paid-for research house Edison are forecasting pre-tax profits of £9.5 million (EPS: 9.5p) on sales of £93 million for the year to July 2012. In 2013 profits of £10.7 million (EPS: 10.6p) on revenues of £99 million are expected.
Last recommended by Growth Company Investor in October at 78.5p the shares currently trade at 93p. Having being one of the strongest performers in the brittle media sector the group's acquisitive strategy and emphasis on digital PR seems to have driven growth in what is an extremely challenging market. We retain our buy rating.
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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.