Drilling update hits Cairn shares
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Shares in UK oil company Cairn sink 20% after a disappointing drilling update and worries over possible tax demands.
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SHARES in Melrose Resources dropped by 12 per cent yesterday as the Edinburgh-based oil company reported a dry well at an exploration site in Bulgaria.
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Oil firm Cairn Energy said Tuesday that it will return about 481 million pounds to shareholders from the stock market flotation of its Indian unit in Mumbai.
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Shares in fruit canner SPC Ardmona jumped by 20 per cent on Friday, after a takeover bid by Coca-Cola Amatil. The bid&#39;s been recommended by the SPC board, but 75 per cent of shareholders will need to approve it, at meetings early next year.
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WMC Resources, the Australian mining group fighting a hostile A$7.4bn takeover bid from Xstrata, is to return up to A$1bn (US$1.3bn) to shareholders after yesterday upgrading its profit forecast for 2004.
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Mumbai: Oil and Natural Gas Corporation (ONGC) and Scottish oil firm Cairn Energy Ltd have decided to team up for oil exploration and production (E&amp;P) in the domestic as well as international markets.
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Shares in global miner Rio Tinto Ltd./Plc.  hit a record high on Thursday as investors bet it would launch a rival bid for Canada's Alcan Ltd. , topping the $28.8 billion that Alcoa Inc. has offered.
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SHARES in Australian Leisure &amp; Hospitality Group Ltd (ALH) jumped more than nine per cent in morning trade today after retailer Coles Myer finally joined the bidding war for the pubs and bottleshops operator.
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British oil and gas firm Cairn Energy has signed a deal with Nepal to explore five new drilling areas in the Himalayan kingdom.
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Company has another tough quarter despite a good market for drillers.
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The company has announced the sale of its part share in the Laminaria and Corallina oil fields to the British-owned Paladin Oil &amp; Gas.
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CALGARY (CP) - The federal government revealed the highly anticipated details of its planned sale of a minority stake in energy giant Petro-Canada late Thursday, setting the stage for the biggest single share sale in Canadian history.
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Leading shares have closed higher, reaching day highs, with the mining sector in fine fettle as the rumour mill resuscitated talk BHP Billiton and Rio Tinto could be sizing up Alcoa, which was among the gainers that led Wall Street higher.
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One new stock has left quite a footprint.
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Business & money: Oil group to post highest earnings by a British firm as RAC urges the chancellor to cancel rise in fuel duty
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Ivanhoe Energy is making discoveries, but its valuation is sky high.
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The British oil exploration firm Cairn Energy may owe the Indian government more than $6.9m (Â£3.8m) in a dispute over an Indian oilfield, the company said yesterday.