It means the investor will become the group's largest shareholder at 29.99%.
Everything appears to being going to plan for 88 Energy (LON:88E) in Alaska, where it is uncovering what it hopes will be a significant new shale resource play.
88 Energy managing director Dave Wall, in a statement, used the word ‘astounding’ as he described the correlation of pre-drill expectations for the Project Icewine well and the actual results to date.
Metal Tiger (LON:MTR) is looking to extend its joint venture in Extremadura, Spain, by taking a stake in another prospect owned by partner MEN.
The two companies already have a joint venture covering the Logrosán and Zorita licences, but Metal Tiger now wants to shift its drill rig to MEN’s Maria gold prospect.
There will be no fracking, Egdon said, with the primary target a conventional structural trap more than 1,500 metres deep.
Essar will be using Greka's services on the Raniganj East Block in West Bengal, India, having previously employed Greka on this project in 2015.
In other news, CentralNic (LON:CNIC) has become the first wholesaler to rack up the sale of 3mln web site names using the new top level domains (TLDs).
In the world of pharmaceuticals, ImmuPharma (LON:IMM) has begun dosing patients as part of the phase III clinical trial of its lead drug candidate Lupuzor for the life-threatening autoimmune disease Lupus.
This is a major milestone for the company, which has the chance to take the compound from discovery right the way through to the market.
Meanwhile, e-Therapeutics (LON:ETX) said it will spend more time analysing the mixed data from the phase IIb study of its most advanced drug candidate, ETS6103.
It was being developed as second-line treatment for people with depressive disorders who don’t satisfactorily respond to, or relapse using, the current go-to medication.
Over at US-based healthcare services provider Constellation Healthcare Technologies (LON:CHT), highly respected physician Dr Shawn Zimberg has been appointed to the board as a non-executive director.
Dr Zimberg is the medical director of Advanced Radiation Centers of New York, and has served on the board of Integrated Medical Professionals since July 2006.
Because it focused on business travellers, Action added it had not been affected by the recent terrorist attacks or global economic turbulence.