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Proactive news summary, including Nostra Terra, Hurricane Energy, Enegi Oil, Horizon Discovery Group and Max Petroleum

Published: 16:01 01 May 2015 BST

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There were a lot of oil minnows in the news again today. Nostra Terra (LON:NTOG) increased production by 79% in its latest quarter, though exploration on its White Buffalo prospect is on hold until oil prices pick up.

The US–based oil and gas group produced more than 11,000 barrels equivalent (net of royalties), with revenues of US$447,000.

Meanwhile, Hurricane Energy (LON:HUR) has seen “considerable interest” from potential farm-out partners for its Lancaster field and other North Sea assets, chief executive Robert Trice said today.

A farm-out process in respect of some or all of the group's prospects is underway and discussions with a number of potential partners are ongoing, he added. 

Enegi Oil (LON:ENEG) has added structural engineering specialist Apollo to the consortium looking at ways to exploit marginal oil fields in the North Sea but oilfield services giant Wood Group(LON:WG.) has dropped out.

Apollo Offshore Engineering joins Kongsberg Maritime and Braemar ACM Shipping as part of the Marginal Field Delivery Consortium, which has at its heart Enegi’s joint venture with AB Technology, ABTOG.

Elsewhere, Max Petroleum (LON:MXP) held out hope for shareholders this morning that the company may survive its current difficulties.

Trading in the shares has been suspended since 2 March pending a debt restructuring and refinancing of the company.

In mining news, Red Rock Resources (LON:RRR) said completion of the sale of its El Limón gold assets in Colombia is imminent. 

The closing process began yesterday with executed transfers and original certificates sent by courier to the buyer's lawyer who is holding documents in escrow, the company told investors. 

Sticking with gold and ECR Minerals (LON:ECR) outlined plans to produce an inferred resource estimate at its Itogon project in the Philippines as it said both this and its SLM project in Argentina merited follow-up work.

Following the completion of drilling at Itogon, trenching is planned for the main prospect area, in a bid to ascertain gold grades in exposed zones.

In other news, Cloud-based video distribution specialist Rightster (LON:RSTR) plans to raise in the region of £5mln through a placing of shares.

The shares are to be placed at 18p a go, the mid-market price at Thursday's close.

Another company looking for funding is fast-growing life sciences company Horizon Discovery Group (LON:HZD) which said it is to raise around £25mln to fund its ambitious growth plans.

The company has arranged to place 13.16mln shares at 190p a share, which is a little over a 4% discount to last night's mid-market closing price of 198.5p

And finally, Photo-Me (LON:PHTM), the photo booths to laundry machines firm, has named company veteran Eric Mergui as its chief operating officer. 

"He has worked closely alongside me for a number of years and his efforts have helped to transform and return Photo-Me to growth, particularly over the last three years," said Serge Crasnianski, chief executive officer of Photo-Me.

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