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Wednesday’s most followed: Berkeley Mineral, Physiomics, Kea Petroleum, BP, Xtract Energy and others

4th May 2011, 11:13 am by Andre Lamberti Wednesday’s most followed: Berkeley Mineral, Physiomics, Kea Petroleum, BP, Xtract Energy and others

Berkeley Mineral Res (LON:BMR) signed a memorandum of understanding with Zambian-registered mining and investment company Ng'wena Mining Resources Ltd (NMR), under which Berkeley will take a 76 percent stake in NMR unit Pine Works.

Pine Works is in the process of acquiring three copper tailings dumps, Old Dam, Chonga Dam and Akatiti Dam, which contain tailings from the formerly operating Roan Antelope copper mine at Luanshya in Zambia.

Physiomics PLC (LON:PYC) is executing of a new collaboration agreement with Pharmacometrics Ltd, under which the parties will work together to develop an anti-cancer drug regimen and combination database. Pharmacometrics will provide its proprietary drug information dataset, which will be united with Physiomics drug and regimen dataset.

Kea Petroleum PLC (LON:KEA) has completed mobilising all the production equipment to the Wingrove site, in New Zealand's onshore Taranaki Basin. Production-tests will now be carried out on several oil bearing Mount Messenger Sand intervals which have been encountered at Wingrove-2 in the depth range 1150-1300m.

BP PLC (LON:BP) has reached an agreement with the US Department of Justice to settle the federal civil suit that arose from the Prudhoe Bay oil transit line leaks in March and August of 2006. Compliance with a set of requirements covering Prudhoe Bay pipeline operations.

BP will pay a US$25 million penalty and comply with a set of requirements covering the pipeline operations.

Xtract Energy PLC  (LON:XTR) has agreed a deal to dispose of its direct interests in it Turkish joint venture company Extrem Energy.  In a separate statement Xtract told investors that its 50 percent owned associate Elko Energy plans to drill the Luna prospect, offshore Denmark, as early as August. Also, Chevron, its partner in the Netherlands, is planning to drill its first well on the P2 block in the fourth quarter of 2011.

Rare Earth Minerals (LON:REM) entered into an agreement to acquire interests in five claims  in Saskatchewan, Canada . The claims are situated in the Mudjatik domain, an area which has seen several periods of intensive exploration activity.

Rare Earth Minerals may earn up to a 51 percent interest in the properties after having paid a US$50,000 in cash and incurring exploration expenditures of at least US$30,000 within 3 months. 

Angel Biotechnology (ABH), biopharmaceutical contract manufacturer, announced an extension to the current contract with Pathfinder Cell Therapy.

Glencore International PLC has set a 480 - 580 pence per share price range for its upcoming IPOs in London and Hong Kong, in which it plans to raise approximately US$10 billion.

Next PLC (LON:NXT) reported a 5.2 percent year-on-year rise in sales for the 13 weeks to end-April 2011. The retail operations showed an 0.9 percent rise, while Next Directory was up 14.8 percent in the same period. The retailer remains cautious for the full year given that there has not been a significant change in the underlying economic environment.

Hambledon Mining PLC (LON:HMB) returned to profits in the full year to end-December 2010. Pretax profits swung to £2.1 million from last year’s £200,000 loss.

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