Dealers tune in to ITV bid talk
After declaring that its first well (Ernest) drilled in the southern part of the North Falkland Basin has been declared dry, Rockhopper Exploration was sold down to 265p before rallying sharply to close only 2.5p cheaper at 301.25p. Broker Westhouse Securities remains a buyer saying although the Ernest result is disappointing, the Sea Lion discovery, which will be the subject of imminent testing, underpins its valuation and target price of 617p. Desire Petroleum, another Falkland Islands-focused oil explorer, fell 6p to 94.75p. Now valued north of £1bn and easily the largest mining group listed on AIM, European Goldfields jumped...
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