DailyMarkets.com - Mixed Signals From L-3 Q2

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• Mixed Signals From L-3 Q2
• NCR Beats On Higher Sales
• Health Management’s 2Q Mixed
• Iron Mountain Posts Mixed 2Q
• Pulte’s 2Q Loss In Line
• EQT Beats On Top, Bottom Lines
• Aflac Beats Est, Near Term Sluggish
• O’Reilly Meets, Raises EPS Outlook
• Cameron Beats: Profit, Backlog Up
• Resilient DTE Beats, Reaffirms
• Hot Option Plays: Gridlock Continues
• Forex – AUD/USD Down In U.S. Trade
• The Lawn Parking Hobgoblin In Indianapolis And City Government’s Solution To A Non-Problem
• Motorola Solutions Thrives In 2Q11
• Prologis Recurring FFO Beats Est.
• Euro Slide Continues On Global Debt Concerns
• Waste Management Misses By A Cent
• Kellogg Beats, Ups Sales Outlook
• Celgene Tops, Lifts View
• McGraw-Hill Beats By A Penny
• Coca-Cola Beats On Volume Growth
• Airgas Beats, Guides Well
• Weak Mortgage Constrains Equifax 2Q
• PVR Tumbles On Cost, Revs Shoot
• Under Armour Beats, Raises Outlook
• Nintendo Still Failing To Deliver, Posts 1st Ever Quarterly Operating Loss
• Forex – NZD/USD Up During The U.S. Session
• Forex Trading: EURUSD Tests 50% And 200 Bar MA On 5 Minute Chart
• Avon Misses Estimates But Grows
• Initial Jobless Claims Drop To 398K
• Expenses Play Spoiler For Ameriprise
• Whole Foods Tops, Lifts Outlook
• “Market Oversold…focus On Washington”
• CME Beats On Cost Efficiency
• Green Mountain’s Grand Victory In 3Q
• European Markets Mixed At Close; Dax Down 0.83%
• Bullish Predictions Payoff For Skechers Call Buyers
• Treasuries Range Bound Ahead Of House Vote
• Afren Set To Make Strategic Entry Into The Kurdistan Region Of Iraq
• Afren Secures Approval To Increase Holding In Block 1101 In Madagascar

Mixed Signals From L-3 Q2 Posted: 28 Jul 2011 12:05 PM PDT L-3 Communications Holdings Inc. (NYSE:LLL) reported second quarter 2011 diluted earnings per share of $2.26, comfortably surpassing the Zacks Consensus Estimate of $2.11 and year-ago quarterly earnings of $1.95 per share. The results include a tax benefit of 11 cents per diluted share primarily related to income tax refunds. Operating Statistics Quarterly net sales fell by 5% year over year to $3.8 billion, and also missed the Zacks Consensus Estimate by $73 million. Declining sales were an … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

NCR Beats On Higher Sales Posted: 28 Jul 2011 12:05 PM PDT NCR Corp. (NYSE:NCR) posted decent second quarter 2011 earnings per share of 46 cents, beating the Zacks Consensus Estimate of 42 cents. Revenue NCR Corp. reported revenues of $1.31 billion in the second quarter, up 12.0% from $1.17 billion in the year-ago quarter. In the reported quarter, switching revenue grew 33.0% year over year while routing revenue witnessed a year-over-year upside of 21.0%. These core businesses are gaining momentum ahead of new product launches, which are expected to work … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Health Management’s 2Q Mixed Posted: 28 Jul 2011 12:05 PM PDT Health Management Associates (NYSE:HMA), a leading operator of general acute care hospitals, reported second-quarter fiscal 2011 earnings per share of 20 cents, edging past the Zacks Consensus Estimate by a penny and beating the year-ago earnings of 16 cents. Net income gained 22.6% year over year to reach $48.6 million. Revenues Revenues increased 13.4% year over year to $1,395.4 million, but fell short of the Zacks Consensus Estimate of $1,407 million. Sales were driven by higher hospital … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Iron Mountain Posts Mixed 2Q Posted: 28 Jul 2011 12:05 PM PDT Iron Mountain Inc.'s (NYSE:IRM) second quarter earnings per share (EPS) were in line with the Zacks Consensus Estimate of 29 cents per share, but declined 9.4% year over year owing to the net effect of certain discrete tax items of 3 cents per share. EPS, excluding the discrete tax item, was 32 cents, up 33.3% from the previous-year quarter.  This was primarily attributable to lower interest expense and effective tax rate in the quarter, which offset an increase in total operating … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Pulte’s 2Q Loss In Line Posted: 28 Jul 2011 12:05 PM PDT PulteGroup, Inc. (NYSE:PHM) reported a net loss of $55 million or 15 cents per share in the second quarter of 2011, worsening significantly from a net income of $76 million or 20 cents per share in the year-ago quarter.  Reported earnings included charges of $41 million or 11 cents per share associated with land, mortgage, organizational restructuring and debt repurchases, while the prior-year quarter earnings included similar charges of $48 million or 13 cents and a net benefit of $82 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

EQT Beats On Top, Bottom Lines Posted: 28 Jul 2011 12:05 PM PDT EQT Corporation (NYSE:EQT) has reported second quarter earnings from continuing operations of 51 cents, surpassing the Zacks Consensus Estimate by 10 cents. Results also compare favorably with 20 cents earned in the prior-year quarter.  A gain on the ANPI transaction, a gain on the divestiture of available-for-sale securities and a reduction of certain non-income taxes led to a 7 cent increase in the quarter's earnings. Accounting for this increase, the company has reported net earnings of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Aflac Beats Est, Near Term Sluggish Posted: 28 Jul 2011 11:35 AM PDT Aflac Inc.'s (NYSE:AFL) second quarter operating earnings per share of $1.56 came in a couple higher than the Zacks Consensus Estimate of $1.54 but modestly exceeded $1.35 reported in the year-ago quarter. Operating earnings escalated 14.7% year over year to $733 million. A stronger yen/dollar exchange rate helped increase operating earnings per share by 11 cents. Earnings in the reported quarter excluded after-tax realized investment losses from securities transactions of $480 million or $1.02 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

O’Reilly Meets, Raises EPS Outlook Posted: 28 Jul 2011 11:35 AM PDT O'Reilly Automotive Inc. (NASDAQ:ORLY) revealed a 17% increase in profit to $133.8 million or 96 cents per share in the second quarter of the year from $114.6 million or 81 cents per share during the same quarter of 2010. The profit was in line with the Zacks Consensus Estimate. The second quarter of 2010 results excluded the charge related to the investigation of CSK Auto Corporation – acquired by the company three years ago – by the U.S. Department of Justice. The increase in profit was … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Cameron Beats: Profit, Backlog Up Posted: 28 Jul 2011 11:35 AM PDT Oil drilling equipment maker Cameron International Corp. (CAM) reported strong second quarter 2011 results, driven by robust performance from its 'Drilling & Production Systems' and 'Valves & Measurement' segments.   The company's earnings per share (excluding special items) for the quarter came in at 66 cents, exceeding the 58 cents (adjusted) earned in the prior-year quarter and the Zacks Consensus Estimate of 64 cents. Cameron generated total revenue of $1,741.1 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Resilient DTE Beats, Reaffirms Posted: 28 Jul 2011 11:35 AM PDT A resilient DTE Energy Company (NYSE:DTE) clocked operating earnings per share of 65 cents for the second quarter of 2011 surpassing the Zacks Consensus estimate of 51 cents. The company also beat the prior-year quarterly earnings of 39 cents. The Michigan-based energy company showing resilience in its business model posted strong numbers when its service area Michigan’s unemployment rate climbed for the second straight month to 10.5% in June 2011. The variance in EPS year over year primarily … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Hot Option Plays: Gridlock Continues Posted: 28 Jul 2011 11:18 AM PDT Cusick Corner Gridlock continues and hedging was the name of the game. This will be short because this budget impasse makes trading or investing dicey at best. If we go into the weekend with no resolution and more politicking, volatility will continue to grow and further uncertainty will turn into true fear. Trim risk where you can and I would contemplate adjusting your size on any position. See you Midday. Stock market averages are holding gains with help from economic data, but the overall … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – AUD/USD Down In U.S. Trade Posted: 28 Jul 2011 11:15 AM PDT Forexpros – The Australian Dollar was lower against the U.S. Dollar on Thursday after the release of U.S. data on Pending Home Sales.<br/><br/> AUD/USD was trading at 1.1005, down 0.15% at time of writing.<br/><br/> The pair was likely to find support at 1.0796, Monday&rsquo;s low, and resistance at 1.1080, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, industry data showed that Pending home sales in the U.S. fell less-than-expected to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

The Lawn Parking Hobgoblin In Indianapolis And City Government’s Solution To A Non-Problem Posted: 28 Jul 2011 11:06 AM PDT In the 1920s, H.L. Mencken said “The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary.”      Exhibit A: INDIANAPOLIS — “Drivers attending the Indiana State Fair or a major sporting event downtown may sometimes opt to grab a parking spot in someone’s yard rather than pay higher prices in a parking lot, but some city officials think people who … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Motorola Solutions Thrives In 2Q11 Posted: 28 Jul 2011 11:05 AM PDT Motorola Solutions Inc. (MSI) reported excellent financial results for the second quarter of 2011. Both top line and bottom line easily beat the Zacks Consensus Estimates. Sales increased in all four geographic regions of the company. Capital Return Program Today, Motorola Solutions declared its much awaited cash usage and optimal capital structure strategy. The board of directors has authorized the initiation of a regular quarterly dividend of 22 cents (88 cents per annum) per share. The … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Prologis Recurring FFO Beats Est. Posted: 28 Jul 2011 11:05 AM PDT Prologis Inc. (NYSE:PLD), one of the leading global providers of distribution facilities, reported second quarter 2011 fund from operations (FFO) of 3 cents per share compared with 32 cents in the year-earlier quarter. Fund from operations, a widely used metric to gauge the performance of real estate investment trusts (REITs), is obtained after adding depreciation and other non-cash expenses to net income. The decrease in year-over-year FFO was primarily due to impairment and merger-related … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Euro Slide Continues On Global Debt Concerns Posted: 28 Jul 2011 10:57 AM PDT 07/28/11 With investors concerned with both the risk of the eurozone debt crisis spreading and a continued lack of progress on debt talks, the forex markets has just seen a continued rise in risk … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Waste Management Misses By A Cent Posted: 28 Jul 2011 10:55 AM PDT Waste Management Inc. (NYSE:WM) recorded an increase in profit to 54 cents per share (excluding special items) in the second quarter of the year from 51 cents per share in the year-ago quarter. With this, the company has missed the Zacks Consensus Estimate by a penny. Revenues increased marginally by 0.6% to $3.35 billion from $3.16 billion in the year-ago quarter, driven by higher commodity prices, improving recycling volumes, and collection and disposal yield. It was higher than the Zacks … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Kellogg Beats, Ups Sales Outlook Posted: 28 Jul 2011 10:55 AM PDT Kellogg Company (NYSE:K) has posted better-than-expected second-quarter 2011 earnings of 94 cents per share, surpassing the Zacks Consensus Estimate of 91 cents. The earnings also increased 19% year over year from 79 cents delivered in the prior-year quarter. On a currency-neutral basis, the earnings in the reported quarter  rose 13% year over year. Kellogg's results reflect robust first half top-line results. Moreover, the quarter was benefited by the improved net price realization and … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Celgene Tops, Lifts View Posted: 28 Jul 2011 10:55 AM PDT Celgene Corporation's (NASDAQ:CELG) second quarter 2011 earnings (excluding special items but including stock-based compensation expense) of $0.78 per share beat the Zacks Consensus Estimate by $0.01 and the year-ago earnings by $0.17. On a reported basis (including special items), the company's earnings increased 78% to $0.59. Higher revenues boosted earnings in the quarter. Adjusted revenues climbed 38% to $1.18 billion in the second quarter of 2011. Revenues were boosted by the impressive … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

McGraw-Hill Beats By A Penny Posted: 28 Jul 2011 10:55 AM PDT The McGraw-Hill Companies Inc. (NYSE:MHP), a publisher and provider of financial information and media services, recently posted second-quarter 2011 results. The quarterly earnings of 68 cents a share beat the Zacks Consensus Estimate by a penny, and rose 11.9% from 61 cents earned in the prior-year quarter. The Zacks Consensus Estimate for the quarter had remained stagnant prior to the earnings release with none of the 8 analysts following the stock revising their estimates in the last 30 or 7 … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Coca-Cola Beats On Volume Growth Posted: 28 Jul 2011 10:55 AM PDT Coca-Cola Enterprises Inc.’s (NYSE:CCE) second-quarter 2011 adjusted earnings of 76 cents per share outpaced the Zacks Consensus Estimate of 74 cents. This also compares favorably with earnings of 66 cents in the year-ago quarter. A solid volume growth coupled with price increases led Coca-Cola Enterprises to deliver better-than-expected quarterly result. The results for the reported quarter include operations of Norway and Sweden but exclude the North American operation of the company. During the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Airgas Beats, Guides Well Posted: 28 Jul 2011 10:55 AM PDT Airgas Inc. (NYSE:ARG) reported fiscal 2012 first quarter results, delivering an EPS of 93 cents compared with 76 cents in the year-earlier quarter. The quarter noted some special items including restructuring charges of 10 cents, 5 cents pertaining to benefit related to unsolicited takeover attempt and a 1 cent charge related to multi-employer pension withdrawal charges. Excluding these items, adjusted EPS rose sharply to 99 cents from 83 cents in the year-ago quarter, beating the Zacks … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Weak Mortgage Constrains Equifax 2Q Posted: 28 Jul 2011 10:55 AM PDT Equifax Inc. (NYSE:EFX) has posted second quarter 2011 adjusted earnings per share (EPS) of 61 cents, inching past the Zacks Consensus Estimate by a penny. The quarter's result was 8.9% above 56 cents reported in the year-ago quarter. The adjusted EPS excludes acquisition-related amortization expense and loss incurred on the merger of Brazilian business. The earnings improvement was fueled by growth in International revenues and demand for new products. Shares increased 2.47% in after-market … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

PVR Tumbles On Cost, Revs Shoot Posted: 28 Jul 2011 10:55 AM PDT Penn Virginia Resource Partners L.P. (NYSE:PVR) reported second quarter adjusted earnings of 32 cents per unit, missing the Zacks Consensus Estimate by 4 cents. Adjusted earnings for the quarter were also short of 34 cents earned in the year-ago quarter, a fallout of the merger with Penn Virginia GP Holdings L.P. that increased the company's unit count massively. On a GAAP basis, earnings of Penn Virginia Resource for the second quarter of 2011 were 50 cents per unit compared with 30 cents … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Under Armour Beats, Raises Outlook Posted: 28 Jul 2011 10:55 AM PDT Under Armour, Inc. (NYSE:UA), one of the leading developers, marketers and distributors of branded sports apparel, footwear and accessories, recently posted better-than-expected second-quarter 2011 results. The outperformance came on the heels of healthy apparel, footwear and direct-to-consumer businesses, which encouraged management to provide an upbeat outlook. The quarterly earnings of 12 cents a share beat the Zacks Consensus Estimate by 3 cents and soared 71.4% from 7 cents delivered in the … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Nintendo Still Failing To Deliver, Posts 1st Ever Quarterly Operating Loss Posted: 28 Jul 2011 05:45 AM PDT 07/28/11 Due to slow sales and a strong yen, Japan’s Nintendo Co. posted its first ever operating loss for the quarter while also cutting the price of its 3DS handheld … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex – NZD/USD Up During The U.S. Session Posted: 28 Jul 2011 10:45 AM PDT Forexpros – The New Zealand Dollar was higher against the U.S. Dollar on Thursday after the release of U.S. data on Pending Home Sales.<br/><br/> NZD/USD was trading at 0.8718, up 0.22% at time of writing.<br/><br/> The pair was likely to find support at 0.8614, Monday&rsquo;s low, and resistance at 0.8766, Wednesday&rsquo;s high.<br/><br/> Earlier in the day, industry data showed that Pending home sales in the U.S. fell less-than-expected to a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Forex Trading: EURUSD Tests 50% And 200 Bar MA On 5 Minute Chart Posted: 28 Jul 2011 10:41 AM PDT It needs to get through this level.  If not, … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Avon Misses Estimates But Grows Posted: 28 Jul 2011 10:35 AM PDT Avon Products Inc. (NYSE:AVP) recently posted second-quarter 2011 adjusted earnings of 49 cents a share, which barely missed the Zacks Consensus Estimate of 50 cents a share but gained 4.3% from the year-ago figure of 47 cents a share. On a reported basis, including one-time items, earnings jumped 23.7% to 47 cents per share from 38 cents per share in the year-ago quarter. Total sales of the company rose 8.0% year over year to $2,856.4 million compared with $2,628.5 million a year ago. Total … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Initial Jobless Claims Drop To 398K Posted: 28 Jul 2011 10:35 AM PDT Initial Claims for Unemployment Insurance fell by 24,000 last week to 398,000. This was much better than the expected level of 415,000. However, last week's numbers were revised upwards by 4,000, so one could see it as a decrease of 20,000. Recently, jobless claims have seemed stuck once again in a trading range above the 400,000 level, after a brief period lower than that earlier this year. The drop below 400,000 level is very good news, but comes after 15 straight weeks above it. Being … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Expenses Play Spoiler For Ameriprise Posted: 28 Jul 2011 10:35 AM PDT Ameriprise Financial Inc.'s (NYSE:AMP) second quarter 2011 operating earnings of $1.31 per share have missed the Zacks Consensus Estimate by 2 cents. However, the earnings have fared well against the prior-year quarter's earnings of $1.03. Operating results exclude the consolidation of certain investment entities, net realized gains or losses, integration and restructuring charges, market impact on variable annuity guaranteed living benefits and discontinued operations. Net income attributable … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Whole Foods Tops, Lifts Outlook Posted: 28 Jul 2011 10:35 AM PDT Whole Foods Market Inc. (WFM) recently posted better-than-expected third-quarter 2011 results on the heels of strong sales as shoppers flocked to the grocery chain, thereby lifting its outlook. The company has been gaining market share compared with other supermarket chains. Let's Dig Deep Austin, Texas based company – Whole Foods – said that quarterly earnings of 50 cents a share surpassed the Zacks Consensus Estimate of 48 cents, and jumped 31.6% from 38 cents earned in the prior-year … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

“Market Oversold…focus On Washington” Posted: 28 Jul 2011 05:27 AM PDT 07/28/11 ICAP’S Kenneth Polcari weighs in on today’s bounce in US equities and the latest housing and employment … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

CME Beats On Cost Efficiency Posted: 28 Jul 2011 10:05 AM PDT CME Group Inc. (NASDAQ:CME) reported its second quarter earnings of $293.7 million or $4.38 per share, way ahead of the Zacks Consensus Estimate of $4.17. The earnings also surpassed the prior-year earnings of $270.7 million or $4.11 per share. The improved result in the reported quarter was primarily attributable to moderate volume growth and strong expense management that also offset higher share count factor. CME Group's total revenue for the reported quarter slightly increased 3% year over … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Green Mountain’s Grand Victory In 3Q Posted: 28 Jul 2011 10:05 AM PDT Green Mountain Coffee Roasters (NASDAQ:GMCR) recorded a robust third quarter 2011 earnings of 49 cents per share that shot up by 140% from 21 cents posted in the year-ago period. It also beat the Zacks Consensus Estimate of 36 cents by 11.11%. The upswing came on the back of success of Keurig Single-Cup Brewing System coupled with the company's flashing appearance in spring advertising and brand support programs, designed to raise awareness of the Keurig Single-Cup Brewing system and "Brew Over … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

European Markets Mixed At Close; Dax Down 0.83% Posted: 28 Jul 2011 09:55 AM PDT Forexpros – European stocks were mixed after the closing bell on Thursday.<br/><br/> At the close of European trade, Germany&rsquo;s DAX fell 0.83%, London&rsquo;s FTSE 100 gained 0.28%, France&rsquo;s CAC 40 declined 0.57% and the EURO STOXX 50 was down 0.04%.<br/><br/> Earlier in the day, industry data showed that Pending home sales in the U.S. fell less-than-expected to a seasonally adjusted 2.4% last month from 8.2% in the preceding … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Bullish Predictions Payoff For Skechers Call Buyers Posted: 28 Jul 2011 09:44 AM PDT Bullish predictions payoff for Skechers call buyers Today's tickers: SKX, RCL, OSK & TWI (NYSE:SKX) – Skechers USA, Inc. – The footwear designer's decision to purge inventory of some 2 million pairs of its Shape-ups sneakers in exchange for a $21 million loss pleased investors reviewing the somewhat ugly second-quarter earnings report released from Skechers USA on Wednesday. Shares in the Manhattan Beach, CA-based company sky-rocketed 25.0% on Thursday morning to an intraday high of … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Treasuries Range Bound Ahead Of House Vote Posted: 28 Jul 2011 09:19 AM PDT Trading emotions are mixed ahead of an after-hours vote in the House of Representatives when House Speaker Boehner will attempt to pass legislation aimed at a two-step debt-ceiling increase that would cut spending by $917 billion over a decade. On the one hand dealers are of course concerned over the potential for default in the world's largest economy and the likely loss of a coveted AAA-sovereign debt rating. However, such an event would likely accelerate economic malaise requiring a … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Afren Set To Make Strategic Entry Into The Kurdistan Region Of Iraq Posted: 28 Jul 2011 04:39 AM PDT Oil and gas group Afren (LON:AFR) has set out ambitious plans to begin operating in the Kurdistan region of Iraq with a proposed US$588.25 million acquisition of stakes in two production sharing contracts. The deal not only marks Afren's first move outside the African continent but it also promises to boost its 2P and 2C recoverable reserves base by over 700% at a cost of under US$1 per barrel. As part of the proposed deal, Afren will acquire a 60 percent participating interest in the Barda … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

Afren Secures Approval To Increase Holding In Block 1101 In Madagascar Posted: 28 Jul 2011 04:32 AM PDT Oil and gas group Afren (LON:AFR) has secured government approval to assume operatorship and increase its interest in Block 1101, onshore Madagascar, to 90 percent. The move is a substantial increase on Afren's existing 40 percent stake and comes with a commitment to a revised work programme which will see the first two exploration phases combined and the acquisition of an additional 150km of 2D seismic data. Afren has also undertaken to drill one commitment exploration well, which is planned … [visit site to read more] or compare Best Credit Cards and Balance Transfer Credit Cards

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