Desire hunts for oil in the south seas

Article Abstract:

Desire Petroleum is a small oil company which plans a listing on the Alternative Investment Market (Aim). The company aims to raise 10 million pounds sterling and offers Falkland Island petroleum reserves that could amount to billions of barrels. A rig is due to arrive in the Falklands in May 1998, and drilling will commence. Desire will be able to wait until other companies have drilled before deciding on whether to make the investment itself. Production will not start until 2003 if oil is discovered, and there is no certainty that it will be.

Support Activities for Oil and Gas Operations, Oil and Gas Field Services, Oil Field Development Services, Desire Petroleum Ltd.

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New Shell favoured

Article Abstract:

Shell's stock price has risen in response to the group's attempts to move away from bureaucracy. Four brokers from a sample of seven rate the company's stocks a buy. The buyers are Henderson Crosthwaite, which welcomes Shell's planned restructuring, ABN-Amro Hoare Govett, HSBC James Capel and Lehman Brothers. Goldman Sachs is a strong holder, while Robert Fleming expresses more caution and prefers BP to Shell. Daiwa Europe is concerned about overstaffing and is a weak holder.

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Shell's restructuring assessed

Article Abstract:

Shell is reducing costs in Europe and aims to achieve a 15% return on caoital employed. There are mixed views about the company's restructuring and goals. Three brokers from a sample of six rate the company's stocks a buy, and two rate them a hold, while the last, Merrill Lynch, uses an accumulate rating and favors the stock for the long term. The buyers are ABN Amro, Daiwa Europe, and Williams de Broe, and the holders are Robert Fleming and Charterhouse Tilney.

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