Xtract Energy - looking for oil in shale. Feasible and cost effective? Anyone in these at present?

Fallen back 10% up

Rumours abound that Walter Coal will be the subject of a takeover by Anglo American or BHP.

Good buying up 8.5%

Bloomberg

Walter Jumps on Report of Takeover by Anglo American, BHP
October 13, 2011, 6:06 PM EDT
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By Sonja Elmquist


(Updates with closing share price in second paragraph.)

Oct. 13 (Bloomberg) -- Walter Energy Inc., a U.S. producer of steelmaking coal, jumped 13 percent in New York after the U.K.s Independent reported that Anglo American Plc and BHP Billiton Ltd. may bid for the company.

The potential bidder may be advised by JPMorgan Chase & Co. and Goldman Sachs Group Inc., the London-based newspaper said, without citing anyone. Brazils Vale SA and Cia. Siderurgica Nacional SA may also may bid, the newspaper said. The shares rose to $75.22, the biggest gain in five weeks.

Walter investor Audley Capital Advisors LLP said in July that the Birmingham, Alabama-based company should explore a sale because it lacked the leadership to take advantage of an unprecedented market opportunity after coal prices jumped. Walter appointed Walter J. Scheller III as Chief Executive Officer on Sept. 12. He replaced interim CEO Joseph B. Leonard and followed Keith Calder, who resigned as CEO in June after telling the board he had differing opinions concerning management philosophy.

Demand from steelmakers in China and flood-related supply disruptions in Australia have driven prices for coal to record highs. Low-volatility coking coal traded at $270 a ton, Knoxville, Tennessee-based Energy Publishing said in a report last week.

Emily Blyth, a spokeswoman for London-based Anglo, declined to comment, as did Ruban Yogarajah, a spokesman for Melbourne- based BHP, and Paul Blalock, a spokesman for Walter.

Coal M&A

Vale doesnt respond to market rumors, an official at the companys press office who asked not to be named citing Vale policy, said in a telephone interview. No one at CSN returned calls and e-mails seeking comment.

Buying Walter could allow Anglo to replace assets it might lose in Chile, Dominic OKane, an analyst at Liberum Capital Ltd. in London, said today in a note. Chilean copper producer Codelco said yesterday it plans to exercise an option to buy as much as 49 percent of Anglos unit in the South American country.

There were $20.5 billion of takeover offers for coal miners valued at $100 million or more announced in the first nine months of 2011, compared with $10.4 billion in the year-earlier period, according to data compiled by Bloomberg.

Alpha Natural Resources Inc. bought rival U.S. coal producer Massey Energy Co. in June for $7.1 billion. Peabody Energy Corp. and ArcelorMittal agreed in August to pay A$4.8 billion ($4.9 billion) for Australias Macarthur Coal Ltd., which like Walter produces metallurgical coal.

Walter acquired Vancouver-based Western Coal Corp. in April for C$5.3 billion ($5.2 billion). Calder was the former CEO of Western Coal.

Walter operates mines in Alabama, West Virginia, British Columbia and Wales.

--With assistance from Firat Kayakiran and Jesse Riseborough in London and Peter Millard in Rio de Janeiro. Editors: Simon Casey, Tina Davis

To contact the reporter on this story: Sonja Elmquist in New York at selmquist1@bloomberg.net

To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net

This must tick up more today, 500,000 just purchased

MMs are trying to make an ordely market and not to push it to fast up as there are sellers of the recent placing @ 1.25p

up 9.43% nice and slow

26 million v 4million

ANOTHER STRONG PERFORMANCE THIS MORNING

only 10am and already 17 Million share traded

Very strong day up 24.5%

http://www.proactiveinvestors.co.uk/companies/news/34442/mondays-most-followed-bowleven-desire-petroleum-rockhopper-exploration-g4s-xtract-energy-nautical-petroleum-34442.html

Another company with exposure to North Sea, Xtract Energy (LON:XTR), was one of the most actively discussed UK stocks on bulletin boards, owing to todays 30 percent jump in the share price to 1.88 pence, valuing the business at 28.4 million.

It was speculated that the company was due to release an update with some investors saying that many of the companys investments have the potential to cause a re-rating of Xtracts shares. Others said that the markets are starting to rate Xtract as an oil company and not merely an investment business.

Demand for shares in Xtract could be driven by excitement over Xtracts upcoming drilling campaign in the North Sea.

Back in September, Xtract said it would focus on its North Sea projects, where it plans to drill two wells in Denmark and the Netherlands in the final quarter of the year. The North Sea assets are held by Xtracts subsidiary Elko Energy.

Statoil bid $4.4 billion for Austin-based Brigham Exploration (NasdaqGS: BEXP - news) Shale is starting to get a lot of interest by the big boys.

REACHED EARLIER 2.025P

so far volume of 16m at 9.30am so it looks like we will beat yesterday's of 17m by 10 am

this one keeps coming up on my radar - think i might be a bit late to join the party here!!!

No your not gibby. This could be very big in time.

after almost all buying during 1 1/2 hours and 7M buys, finally have moved up at both sides
Most likley there was a seller and will be a large delayed trade later

---------------
spread 1.95 / 1.98

level 2 of 1 v 2

The volume is not the same as the last past days and MMs are reluctant to move the price higher today, so after such a large rise I decided to take profits at this price, I was in from 1.13p so a 73% return on 8 days or 6 trading days is good enough for me.

The share price has gone well over the Higher Bollinger BAND ( considered as selling sign ) also the Indicator RSI is at overbought

very well done so far as the price has fallen to 1.75 / 1.80p

so buyers are moving in again

Kept mine, big recovery at the end of the trade day, lets hope for 2p soon.

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