Bowleven (LON:BLVN) plans to drill the Sapele-1 discovery well beyond its original target depth after finding more hydrocarbons in Cameroon’s Douala basin. The mid-cap oil firm had already found light oil as well as gas condensate in a number of intervals in the well.
Edenville Energy (LON:EDL) plans to dig deeper at the Rukwa Coalfields project in Southern Tanzania, after it confirmed the thermal quality of the surface coal. This morning the company announced sampling results from Rukwa – which comprises three primary areas Namwele, Mkomolo and Muze.
Vatukoula Gold Mines (LON:VGM) said this morning that the accelerated programme of development of its underground operation Fiji will continue until May. The process is designed to turn the mine into a 100,000-ounce-a-year producer. However the downside is that ore grades have been lower in the first quarter of the company's financial year than they were in the previous three months.
Range Resources (ASX: RRS, LON:RRL) and its partner Strait Oil and Gas have agreed a deal to farm-out 20 percent of the two oil and gas licenses in the Republic of Georgia to Red Emperor Resources (ASX:RMP) Red Emperor will pay 40 percent of the costs of a two well program in return for acquiring the 20 percent interest in the licenses - split 10 percent from Range and 10 percent from Strait.
Circle Oil PLC (LON:COP) said the Al-Amir SE-7X well in Egypt has been drilled to a depth of 9,580 feet, and preliminary analysis of open hole logging of this upper part of the well, indicates potential for hydrocarbons in the South Gharib formation.
Tullow Oil PLC (LON TLW) said the Tweneboa-3 appraisal well in the Deepwater Tano licence offshore Ghana has successfully encountered gas condensate in excellent quality sandstone reservoirs.
Nostra Terra O&G Co (LON:NTOG) signed an agreement with Houston-based New Century Exploration, Inc. to acquire a 1.0% APO working interest in the Vintage Hills prospect unit in Brazos County, Texas within the established Giddings field.
Morrisons (LON:MRW) posted underlying sales growth for the six weeks to the start of January of 1 percent. That compared with forecasts of 0.5-0.8 per cent. Full-year profits are expected to be £860 million – in line with City hopes.
The online grocer Ocado (LON:OCDO) unveiled the stand-out sales figures of the retail reporting season so far. Sales in December rose 26.7 percent, despite the Arctic weather which affected many of the traditional bricks and mortar businesses in the sector.
Housebuilder Persimmon (LON:PSN) issued a trading statement, saying underlying profits will be at the top end of market expectations, which currently range from £75 million to £96 million.