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Fox-Davies Capital
Fox-Davies Capital specialises in assisting international resource companies to gain access to the UK, European and North American capital markets and has a substantial background in emerging markets particularly in Africa, Asia, Russia and the CIS. 
Solo Oil, Mwana Africa, Range Rescources plus others feature in today's Fox-Davies Capital newsflash
Mining News
Sylvania Platinum Ltd (LON:SLP) announced that the Sylvania Dump Operations generated half year production of 25,179 PGM ounces for the period up to December 2011, a 36% increase compared to 18,530 ounces for the same period in the 2011 financial year. Production of 13,089 ounces in the first quarter, and 12,090 ounces in the second quarter, were the two highest totals in the Company's history. The completion of the Mooinooi expansion 'No 2 plant', the sixth in the Sylvania stable, will now result in both Mooinooi plants recommencing treatment of current arisings from the host mine which could not be done whilst the expansion plant was being built. This is expected to ensure that the third quarter will continue the overall upward trend in production at the Company.
Mwana Africa plc (LON:MWA) announced that the Freda Rebecca gold mine produced 11,573oz of gold in the December quarter. At the Zani Kodo gold exploration project, drilling results from Zani Central and Kodo Downdip Extension indicate excellent continuity of the broad mineralized zone both at depth and along strike.
African Barrick Gold PLC (LON:ABG) announced a significant uplift to the previously declared Mineral Resource estimate for the Tusker deposit at the Nyanzaga Project. This increases our confidence that the project, which comprises the Tusker and Kilimani deposits, has the potential to be our next mine in Tanzania. The updated in-pit resource is in excess of 4Moz Au, consisting of 3,481Koz at 1.47g/t Au Indicated and 598Koz at 2.05g/t Au Inferred. This represents a fourfold increase on the previously declared resource of 313Koz Indicated and 650Koz Inferred, and is another highly encouraging step in the Company's overall strategy of realising the potential of its existing portfolio of high quality assets.
Oil and Gas News
Solo Oil PLC (LON:SOLO) today provided an update on the drilling of the Ntorya-1 exploration well in the Ruvuma Basin onshore in Tanzania operated by Ndovu Resources Ltd (a subsidiary of Aminex). The well was spudded on the 22 December 2011 and has been drilled to 1,535 metres where an intermediate casing string has been set. The well is now drilling ahead towards the target interval of approximately 1,800 to 1,900 metres depth. The well is expected to reach total depth around the end of January. The Ntorya-1 well is designed to test the high quality Basal Tertiary and Upper Cretaceous sands previously encountered in the Likonde-1 well, 14 kilometres to the north. Solo estimates that the Ntorya Prospect has a probability of success of around 25%, with mean recoverable resource potential of 100 million barrels of oil equivalent. Partners in the well are: Tullow Tanzan ia B.V. 25%, Solo Oil PLC 18.75%, and Ndovu Resources Ltd 56.25% (Operator).
Range Resources Limited (LON:RRL) today provided operational updates in Trinidad and Texas. Trinidad highlights: positive initial production rates from the QUN118ST well (102bopd) which follows on from the recently completed and producing QUN116ST well which is currently producing circa 30bopd under natural pressure; Like the QUN116ST well, the QUN117 well is likely be placed on pump and is forecast to produce upwards of 50 bopd, whilst still maintaining the Lower Forest zone potential which is planned to be exploited at a later date; Rig 2 has moved to the QUN 119 location and is drilling ahead at 1,100 ft with a TD of 2,400 ft and targeting the Upper Cruse and Lower Forest Sands. Well logs have been taken over the Lower Forest interval and are indicating approximately 280 ft of good oil sands with 100 ft of these sands displaying higher quality potential for better tha n expected flow rates. These results are extremely encouraging as indications are that the multi zone producing trends previously encountered in the QUN 117 well appear to continue; Rig 5 has been prepared to join the current operations and will be targeting its first well, QUN 120 for the Lower Forest Sands in the coming weeks; Rig 8 currently awaits regulatory inspection which is expected shortly and will be targeting the deeper Middle and Lower Cruse formations, whilst Rig 1 has been awaiting replacement drill string, expected to be received shortly, at which point in time the Company will have four fully operational drilling rigs rapidly advancing the Company's current drilling program on Morne Diablo. Texas highlights: the North Chapman Ranch joint venture has run 9 5/8" casing on the Albrecht #1 well and is drilling ahead at 11,302 ft, with a proposed target depth of 14,500 ft. If productive, the target could add significant reserves to those of the Howell Hight Format ion, the primary field pay at North Chapman Ranch; Completion work continued on the Smith #2 well with the perforation of the lowest zone, or "E" sand. On the East Texas Cotton Valley prospect, operator Crest Resources has received approval from the partners for fracture stimulation of the Ross 3H Horizontal Well, and is in the process of scheduling the frac work and subsequent testing this quarter, which is expected to confirm commerciality of this shallow oil field.
Oilfield Services News
Technip (LON:TEC): Technip has been awarded a contract worth around EUR90M, by Daewoo Shipbuilding and Marine Engineering (DSME) for the detailed design of Chevron’s Wheatstone offshore gas processing platform, located 200km off Western Australia’s coast. The upstream (offshore) portion of the project is comprised of the development of gas fields in the WA-17-R and WA-253-P petroleum titles located on the Northwest Shelf offshore Western Australia at water depths of 70 to 200 meters. Subsea gas-gathering systems will transport production to the processing platform where the gas and condensate will be treated. It will then be exported to the onshore gas plant located at Ashburton North, on the Pilbara coast of mainland Western Australia. The contract is scheduled to be completed in the second half of 2012.
Capital. Drilling (LON:CAPD). Capital Drilling’s 2011 year end read positively. Market conditions in the commodities markets and consequently drilling services market have remained supportive with expected revenue of $130m for the full year, representing an increase of approximately 73% year-on-year. Net earnings for the full year are expected to be in line with market expectations, despite continuing cost pressures particularly caused by the tight labour market in 2011 as well as the significant investments the Group made in both its assets and its geographical expansion. These figures are in line with our expectations and the commensurate comments bode well for 2012
