Commodities

LONDON (ShareCast) - Global payments (NYSE: GPN - news) utility Earthport (LSE: EPO.L - news) notes the recent movement in the its share price and said that it had considered for some time that the current share price range considerably undervalues the prospects of the business.

"Earthport confirms it is not in any discussions which may lead to an offer being made for the Company," it added

Independent oil and gas firm Chariot said a further programme has commenced on block 2714A, offshore Namibia. The programme has been agreed by Chariot's wholly owned subsidiary Enigma Oil & Gas Exploration Limited following the recent farm-out with Petrobras (PETR3.SA - news) and will involve the acquisition of a further 1,500km2 of 3D seismic on the block.

In line with the farm-out agreement, Petrobras will pay 50% of the costs of this survey.

Stockbroker Collins Stewart (LSE: CLST.L - news) announced the appointment of John Cotter as new finance director. Cotter will take up this position and join the company's main board on 23 June 2009.