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Proactive Mid & Small round-up - UK oil firms in focus for investors

Edgon (LON:EDR), Europa Oil & Gas (LON:EOG) and Union Jack Oil (LON:UJO) all advanced this week after a fresh testing success in the conventional Wressle discovery well in east Lincolnshire.

All three are partners in the project which is low cost, eligible for tax perks and has moved closer to commerciality as oil flowed at a rate of 180 barrels per day. Revenue generating, longer term production testing is now planned.

UK Oil & Gas Investments (LON:UKOG) shares moved higher on Friday as it topped up its interest in the Weald basin in south east England. It is buying out its partner in the Markwell Wood field for a nominal £1 fee. Chairman David Lenigas says he wants as much acreage in this part of the UK as he can get. 

ZOO Digital (LON:ZOO) was up strongly thanks to a new contract with the BBC which will see the AIM firm update and upgrade subtitling and captioning for the broadcaster's main commercial arm.

Medical tech firm Angle (LON:AGL) revealed it will advance applications of its Parsortix cancer cell filter in ovarian cancer, and it arranged a £8.8mln issue of shares. It also signed an agreement with a specialist unit of Texas University to investigate Parsortix’s use in colorectal cancer. 

Ergomed (LON:ERGO) agreed a deal that will see it receive a stake in its Swedish partner Dilaforette. Together they will work on a drug for patients with sickle-cell disease experiencing a painful and common complication, called vaso-occlusive crisis.

Gemstone and jewellery firm Gemfields (LON:GEM) said production of emeralds and rubies was up 40% year-on-year in the final quarter of 2014.

Explorer Tertiary Minerals’ (LON:TYM) continued a run of high grade findings as it revealed final results from its most recent drilling at the MB fluorspar project, in Nevada.

Spain focussed mine developer Ormonde (LON:ORM) unveiled a financing package for the flagship Barruecopardo tungsten project, in the Salamanca province. The deal will, if closed, see the project on the road to production in the second half of 2016. Oaktree Capital is now in an ‘exclusivity period’ which lasts until April 10.

Jamie Ashcroft
Jamie Ashcroft


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