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Proactive news round-up: SDX Energy, Motif Bio, Sound Energy…

A glance at some of the stories on the Proactive newswire today
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Your daily round-up from the world of Proactive

SDX Energy Inc (CVE:SDX, LON:SDX) has confirmed a new gas discovery at the South Disouq project, where exploration drilling continues.

The company told investors that the SD-1X well has encountered conventional natural gas bearing horizons in the Abu-Madi targets. It hit some 65 feet of net pay with average porosity of 25% in line with pre-drill estimates.

SDX said that evaluation work is now underway towards an estimate of recoverable resources for Abu Madi.

Elsewhere, Motif Bio Plc (LON:MTFB) chief executive Graham Lumsden hailed as a “significant achievement” the successful completion of a phase III clinical trial of its next-generation antibiotic, iclaprim.

The REVIVE-1 global study assessed the drug’s ability to treat patients with acute bacterial skin and skin structure infections (ABSSSI).

The top-line results revealed it scored well against one of the leading products, vancomycin, on two counts.

The exploration and development firm Sound Energy PLC (LON:SOU) said a drill rig will soon be on its way from its Tendrara licence in Morocco to start work on two wells at Sidi Moktar, its second gas asset in the country.

The company has also confirmed it will go it alone with the exploration of Sidi Moktar thanks to its strong financial position, rather than bringing in a partner.

China-focused Coal Bed Methane gas group Green Dragon Gas Ltd. (LON:GDG) has announced that its development plan for the Qinshui Basin Chengzhuang Cooperative CBM Block (GCZ) has been approved by the Consultation Center of China National Petroleum Corporation (CNPC).

In a statement the main market-listed firm said that “on 8 April 2017, in accordance with China's 13th Five-Year Plan, Chinese government authorities delivered a policy to facilitate expediting the State approval processes.”

In other news, clinical stage biopharma group Faron Pharmaceuticals Oy (LON:FARN) has partnered up with the University of Birmingham as it looks to advance its potential cancer immunotherapy, Clevegen.

Faron will work with the “world-renowned” UoB Medical School to develop and initiate a liver cancer program testing Clevegen in clinical trials.

The collaboration will focus on trial and protocol design for a phase I/II trial, called TIETALC (Tumour Immunity Enabling Technology Against Liver Cancer).

Westminster Group PLC (LON:WSG), the supplier of managed services and technology-based security solutions, has told investors it is making “significant progress” on a potentially lucrative airport security contract in the Middle East.

Although nothing is certain until the customer signs on the dotted line, Westminster said several key milestones in the “large and complex deal” either had been, or were close to being, achieved.

The 15 year contract could be worth in excess of £500mln to Westminster, although additional airports and services are being discussed as part of the agreement which could push that value even higher.

Elsewhere on the junior market, LGO Energy PLC (LON:LGO) has confirmed that its second new well at the Goudron field has come online, adding 80 barrels to daily oil production.

The GY-683 well was completed on April 9 and the company says it is free flowing - i.e. it flowed the oil without pumping - yielding an initial rate of 80 barrels of 55 degree API oi, with initial well-head flowing pressure of 40 psi (through a 7/64-inch choke).

The south-eastern Europe focused property and investment company, Secure Property Development and Investment PLC (LON:SPDI) has signed a leasing deal in Romania which increases the company's current net rental income by almost 10%.

In a statement, the AIM-listed firm said it has signed a new lease agreement with Aquila srl, a large Romanian logistics operator, for 5,740 square metres of ambient space in the company's Innovations Logistics Park in Bucharest.

And finally, CloudBuy PLC (LON:CBUY) has told investors it continues to steady the ship as it updated the markets ahead of today’s Annual General Meeting.

The developer of online marketplaces said that its cost reduction actions and a “sharper focus” on realistic revenue growth mean it is in an “improved position” for this year and next.


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