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Proactive news round-up: Hurricane Energy, San Leon Energy, Canadian Overseas Petroleum ...

Published: 15:41 19 Dec 2016 GMT

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Shares in Hurricane Energy PLC (LON:HUR) stormed higher this morning after the explorer said its Lincoln oil discovery is probably larger than it first thought. The group said its latest North Sea drilling has uncovered a ‘significant oil column’ estimated at 660 metres.

Shares in San Leon Energy PLC (LON:SLE) soared on Monday morning after the oil and gas firm confirmed it had received an approach from a possible bidder which could lead to a takeover offer being made.

Canadian Overseas Petroleum Limited (LON:COPL) is having to take stock after drilling results from its highly-anticipated exploration well offshore Liberia disappointed. The recent drill tests carried out at the Mesurado-1 well by owner and oil super major ExxonMobil failed to find any hydrocarbons.

Wind turbine technology group Windar Photonics PLC (LON:WPHO) expects to show a sharp year-on-year increase in revenue for the whole of 2016. Annual revenue is expected to be somewhere in the range of €1.5mln to €2.0mln, up 60% (lower end of the range) or 100% (upper end) on 2015.

Kibo Mining PLC (LON:KIBO) has agreed a price to build its Mbeya thermal power station in Tanzania. A legally binding EPC (engineering, procurement, construction) cover agreement was signed with its Chinese partner and contractor SEPCO III on 19 December.

The oil explorer Aminex plc (LON:AEX) said work on the Ntorya-2 well in Tanzania will begin in the next few days. Around 1.5km from Ntorya-1, the second well will target 153bn cubic (BCF) feet of gas.

Biomass specialist Aggregated Micro Power Holdings plc (LON:AMPH) has beefed up its wood chip supply business with the acquisition of PEL Fuel.

A leading global original equipment manufacturer (OEM) has signed a joint development licence agreement with fuel cell developer Ceres Power Holdings PLC’s (LON:CWR). Investors with a long memory might remember the company announcing back in early February an evaluation agreement with an OEM.

Collagen-based biomaterials manufacturer Collagen Solutions PLC (LON:COS) is confident it can grow its revenue five times within the next five years, it said in latest half year results.

Akers Biosciences Inc (NASDAQ:AKER) (LON:AKR) is to trial PF4, its rapid diagnostic test for Heparin allergy, with one of the largest hospital supply companies in the US.

BATM Advanced Communications Limited (LON:BVC)  has won a second contract for its agri-waste disposal technology from Israel’s largest food company. The contract, worth about €1.75mln, is for the supply and installation of a unit at one of the customer's bovine slaughterhouses.

Commodity trader Noble Resources is to lend its considerable weight to Mkango Resources Ltd (LON:MKA, CVE:MKA), the rare earths explorer. Noble, one of world's largest commodity traders and the largest in Asia, will identify the optimal markets and counter-parties for output from Mkango’s Songwe Hill rare earths project in Malawi.

Gold and copper producer Rambler Metals & Mining PLC (LON:RMM, CVE:RAB) produced more than expected in the three months to the end of October. Production of 69,609 dry metric tonnes (dmt) of ore was in line with the previous quarter, and marked the second consecutive quarter of higher than planned tonnage.

Metal Tiger PLC’s (LON:MTR) joint venture (JV) partner in Botswana has raised more than £3mln to help fund its side of the ongoing costs at the Kalahari copper belt project.

Macarthur Minerals Limited (TSE:MMS), in which Rare Earth Minerals plc (LON:REM) has a 16.6% stake, is receiving renewed corporate interest in its two iron ore projects.

Nickel explorer Horizonte Minerals Plc (LON:HZM, TSX:KZM) has ticked another box on its check-list as it pushes towards preparing a definitive feasibility study for its Araguaia nickel project in Brazil.

Global demand for rough rubies remains robust said Gemfields PLC (LON:GEM), after the coloured gemstones supplier sold US$30.4mln worth of rubies at a Singapore auction last week.

A good monsoon season has put India-based renewable energy group Mytrah Energy Ltd (LON:MYT) on track to hit targets this year. Mytrah currently has 1,000 Mw of wind power capacity in operation and these units are going well it said, with production higher than a year ago.

Zinc and lead mining project developer Ferrum Crescent Limited (LON:FCR, ASX:FCR) has issued 3.2mln new shares as a result of options being exercised. The options were exercised at 0.165p each.

DiamondCorpPLC (LON:DCP) has re-negotiated repayment terms with several lenders while it seeks a more long term financing solution. The miner has placed the Lace diamond mine in South Africa in business rescue while the talks continue.

Sirius Petroleum (LON:SRSP), the investing company focused on the Nigerian energy sector, has contracted oilfield services giant Schlumberger for a multi-well campaign next year.

SerVision PLC (LON:SEV) has received two orders for its video streaming technology. The largest, for 59 units of its IVG400-N system and worth £120,000, is from Skills Motor Coaches, a Nottingham-based operator with 150 vehicles. 

Highlands Natural Resources Plc (LON:HNR) has revised its drilling agreement at its East Denver, Colorado shale project to reflect last week’s expansion deal.

Metals Exploration Plc (LON:MTL) has agreed a rescheduled debt facility for US$81mln with its lenders for its Runruno project in the Philippines. As reported last month, mining and processing operations at the mine are now ramping up soundly.

Arian Silver Corporation (LON:AGQ) today announced the extension of its exclusivity agreement with Tierra Nuevo Mining Ltd over the Noche Buena gold and silver tailings project in Mexico. It said the period of exclusivity has been extended by a further 60 days to 25 February 2017 at no additional cost whilst the final results of metallurgical testwork are awaited.

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