SeaEnergy (LON:SEA) shares went over 8% as its recently established subsidiary SeaEnergy Ship Management (SEASM) was awarded its first ship management contract.
The SEASM team will be responsible for the management of the crew, provisions and technical support of the MV Surf Ranger, which recently arrived in the UK sector of the North Sea after being acquired by a subsidiary of Otto Marine of Singapore.
Otto owns and operates one of the largest fleet of offshore support vessels and has a worldwide presence. SEASM and Otto are in discussions regarding the ship management of other Otto vessels that may be operating in the North Sea and Europe in the future.
It was one of several news stories from Wednesday's mixed offering.
Northcote Energy (LON:NCT) was also lifted as it said it was to monetise additional gas associated with its oil production operations at the Zink Ranch property.
Gas flows have been on the rise at Zink Ranch since the first four of 14 planned well work-overs were completed.
One well alone, flowing around 60,000 cubic feet per day, doubles the property’s gas volumes at the time it was acquired by Northcote.
Elsewhere, drug discovery group Summit (LON:SUMM) said its potential breakthrough for Duchenne Muscular Dystrophy was safe and well tolerated as it reported patients saw a reduction in the enzyme associated with the wasting disease.
The update followed the completion of a phase Ib clinical trial of SMT C1100 with 12 patients, who were given progressively higher doses of the compound.
The main aim of the study was to find out whether C1100 was well tolerated and safe – which it is.
To a different sector entirely and electricity supplier OPG Power Ventures (LON:OPG) is considering paying a maiden dividend after another year of strong growth in profits and revenues.
Profits at the Indian group rose by 70% to almost £18mln in the year to March, with sales up by 76% at £98.8mln.
Turnover would have been higher without the decline in the Indian rupee against the pound, with revenues up 96% in the local currency and profits more than doubled.
MC Gupta, OPG’s chairman, said the period had seen a step change in the scale and profitability of the group
In mining, Stratex International (LON:STI) described the results from the drilling programme at the Tembo gold project in Tanzania as “very encouraging”.
Stratex, which has a 12.9% stake in the project, said five diamond drill holes were completed at the Nyakagwe Village target, and the best results included: 9.64 grams per tonne (g/t) gold over 3.95 metres (m), including 24.72 g/t over 1.45m.
DekelOil (LON:DKL) said it had started to supply crude palm oil to a second local customer from its operation in the Ivory Coast.
The deliveries are part of an offtake deal signed recently with local refiner Adam-Afrique, a local refining company, for a minimum of 5,000 metric tonnes of crude palm oil annually up to a maximum of 10,000 metric tonnes.
In return for meeting agreed quality standards, DekelOil will receive the official AIPH price, which is similar to the CIF Rotterdam price.
The agreement runs initially to end December 2016, at which point it will be renewed for consecutive three year periods unless either party ends the arrangement.
Wentworth Resources (LON:WRL) reminded investors today that the first of two potentially high impact exploration wells in Mozambique will get underway next month.
The Anadarko operated Tembo-1 well is a key catalyst for Wentworth, which is otherwise awaiting the completion of a gas pipeline to the north in Tanzania.
Drilling of the second well, Kifaru-1, will follow the completion of Tembo-1.