Mid morning news from ADVFN

Oil prices were higher in Asian trading hours, driven up by demand for heating fuel in the US during a bout of cold weather there, dealers said.
Light sweet crude for delivery in March was up 0.42 usd at 55.84 usd a barrel on Nymex.

Cairn Energy kicked off what looks like being a busy week with a trading statement in which it revealed plans to return cash to shareholders in the second quarter alongside news it has discovered more oil in its prized Rajasthan field in India.
In Bangladesh, however, the group said the proven and probable reserves have been cut by 187 bln cubic feet following further drilling on the site and a decline and production.
In reaction, Bridgewell repeated its 'overweight' stance, noting that although 2006 production of 24,500 boepd on an entitlement basis fell short of its forecast, management has renegotiated Ravva gas sales prices higher.

Cairn recovered from an opening fall to trade 10 pence higher at 1,710.
Fellow oil stocks were also higher following further recovery by crude prices, with BP adding 3-1/2 pence to 543-1/2 and Royal Dutch Shell gaining 7 pence to 1,726 ahead of its fourth quarter results on Thursday.

Across the commodities floor, mining stocks were also in demand as metal prices also recovered from recent weakness, with gold, silver and copper all starting the week on the front foot.
Lonmin gained 41 pence to 2,970, while Xstrata added 27 pence to 2,374 and Vedanta climbed 9 pence to 1,141.