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Energy News

Companies that produce or refine oil and gas, oil field services and equipment companies, and pipeline operators.

30 Jan 2017

New City Energy justifies wind up move

New City Energy has published results for the year ended 30 September 2016. The total return in net asset value terms was 6.3%.  The total return in ordinary share price terms was 28.6%, with the share price ending the year at a discount against net asset value of 14.7%. The chairman says that the investment managers […]

14 Dec 2016

New City Energy to wind up

New City Energy’s board of directors has been reviewing, with the investment manager, the future prospects of the company ahead of the next continuation vote. Given the current market capitalisation of the company, the prevailing share price discount and the short to medium term outlook for the oil price, the board has decided that it would be […]

29 Jun 2016

New City Energy weathers oil price falls well

New City Energy reports that, over the six months ended 31 March 2016, its net asset value in total return terms was slightly down at -1.0% (they say, as the portfolio was defensively positioned). The ordinary share price (total return) was down by 0.1%, ending the period at a discount of 28.1%. The chairman says, […]

09 Mar 2016

New City High Yield NAV return flat in H2 2015

CQS New City High Yield’s net asset value fell by 3.0% to 56.9 pence per share during the six months ended 31 December 2015.  Adjusted for the payment of dividends totalling 1.94 pence per share for the period the net asset value total return was essentially flat at -0.1%. The share price total return for the same […]

18 Dec 2015

New City Energy smashed by oil price fall

New City Energy say that during the year to 30 September 2015 its NAV, in total return terms, fell by 53.2% as the full extent of the price war in oil impacted the holdings in the Company’s portfolio. The share price fell by 58.7%, ending the year at a discount of 27.9%. Over the period […]

03 Dec 2015

New City Energy slashes dividend

New City Energy says its Board have been reviewing the level of likely income from the portfolio of investments.  This has been impacted by the sharp fall in the oil price over the last 12 months leading to a number of portfolio companies reducing or cancelling their dividends.   The Board have concluded that the current level […]

22 Jun 2015

New City suffers from oil price fall

New City Energy results for the six months ended 31 March 2015 show the fund suffering in the wake of falling oil prices. The total return on net assets was -36.6% and the share price return was -37.4%. Two interim dividends of 0.42p have been paid for the period. The managers’ report highlights those companies […]

19 Dec 2014

New City Energy backing shale producers in oil price war

New City Energy results for the year to the end of September 2014 show a negative return on net assets of 5.8%. The share price fell by 8.8%, ending the year at a discount of 17.0%. The dividend was increased by 7.4% to 2.04p but was uncovered by earnings. The manager’s report gives no indication of […]

11 Oct 2014

New City High Yield makes 10% for year

NCYF : New City High Yield makes 10% for year New City High Yield generated a total return on net assets of 10.3% for the year that ended on 30 June 2014. The shareholder return was 13.7% as the shares moved to trade on a 4.6% premium. The dividend was raised to 4.21p. The manager’s […]

26 Feb 2014

New City High Yield : NCYF – interim results

New City High Yield’s net asset value total return for the second half of 2013 was +4.4%. The shares to trading on a premium over 5% so the return to shareholders was 8.6%.

20 Dec 2013

New City Energy : NCE – annual results

New City’s annual results for the year ended 30 September 2013 show a fall in the NAV of 19.2% and in the share price of 6.5%. The performance is attributed to falling commodity prices (on fears of slowing Chinese growth) and the strength of Sterling over the period. the Board has negotiated a reduction in the […]

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