Taking Stock

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The Independent Online
Pan Andean Resources, the once high-flying oil explorer, flared 6p to 37.5p after moving into production by buying for $2.75m two oil and gas fields in Bolivia. The acquisition will be funded through borrowing and a private placing. PAR said talks on a farm out of its Chapare prospect in Bolivia were continuing. It was disappointment over Chapare which gave PAR a certain notoriety with its shares collapsing from 135.5p to less than 30p in a day.

Latchways, making safety systems for work on high buildings, firmed to 167.5p. Stockbroker Bell Lawrie White is putting the final touches to a buy circular, forecasting profits of pounds 1.8m this year. The company, floated last month at 155p, made pounds 1.2m last time. It has appointed a French distributor.