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Proactive news summary - Rose Petroleum, Tethys Petroleum, Oilex and Aurasian Minerals

Last updated: 15:31 01 Dec 2014 GMT, First published: 16:31 01 Dec 2014 GMT

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The ongoing price slump in brent crude didn’t dampen news coming out of the oil sector at the start of the trading week.

Shale explorer Rose Petroleum (LON:ROSE) said it has raised £3.5mln gross to help fund development  of its Mancos and Paradox assets in eastern Utah.

Tethys Petroleum’s (LON:TPL TSX:TPL) new board has spelt out its plan to close what it said was a significant value gap between the share price and assets of the business.

Africa-focused oil explorer Simba Energy (CVE:SMB) continues to look for a partner for its blocks in Kenya, though the Ebola outbreak has affected its plans in West Africa.

Oilex (LON:OEX) has completed the production test on its Cambay-77H well in India.

Range Resources (LON:RRL) said  its US$50mln funding from Core Capital Management may not be completed within the time frame it originally guided, due to changes to its board of directors.

Toronto -listed oil and gas junior Maxim Resources (CVE:MXM), which is focused on the onshore Hassi Berkane reconnaissance licence in Morocco, spent $62,027 on exploration on the nine months to end September, it said.

Onto gold, and Aureus Mining’s (LON:AUE, CVE:AUE) secondary deposit in Liberia is shaping up to be a major gold project in its own right with the group revealing a doubling of the resource base at Ndablama to almost 900,000 ounces.

Ariana Resources (LON:AAU) has identified a significant gold target at the Kepez West prospect in Turkey.

Aurasian Minerals (LON:AUM) has submitted application for three exploration licences in Myanmar and is looking at possible opportunities in Lao.

SolGold (LON:SOLG) shares climbed around 10% in early deals as it unveiled further encouraging results which explain the goelogy of the Cascabel project area in more detail.

African Eagle Resources (LON:AFE) is extending talks over its proposed acquisition of Lime-Chem Resources to December 12th.  Lime-Chem holds mining rights over the Rooinekke property in Northern Cape province, South Africa.

Kincora Copper (CVE:KCC) remains confident it will have its revoked Golden Grouse licences in Mongolia returned or some form of monetary compensation received.

Odey Asset Management will increase its holding in Kefi Minerals (LON:KEFI) to 15.91%. 

In the tech space, City broker Oriel Securities hiked its valuation of Nanobiotix (EPA:NANO) following a fundraise that will allow it to expand its current research base as well as initiating a US clinical programme.

Accesso Technology (LON:ACSO) continues to power ahead and expects to report pre-tax profit ahead of market expectations in the full year.

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