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Proactive news snapshot: Providence Resources, Lansdowne Oil & Gas, hVIVO, Hurricane Energy …

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Providence Resources PLC (LON:PVR) can now start the countdown to the start of the Barryroe oil field development, as it today confirms the signing of a binding agreement for its proposed farm-out deal with its new Chinese partners. It promises to deliver Ireland’s first commercial offshore oil project, though the immediate focus will be on preparations for a new drilling programme slated to start next year.

Lansdowne Oil & Gas PLC (LON:LOGP) chief executive Steve Boldy told investors that the Irish explorer is looking forward with “great excitement” as a new binding partnership agreement has now been signed for the Barryroe farm-out.

Drug development services provider hVIVO PLC (LON:HVO) has its strongest sales pipeline for several years, according to chief executive Trevor Phillips. This month the group signed an £11.9mln contract that will start to contribute from October and throughout 2019.

As Hurricane Energy Plc (LON:HUR) counts down to first production, targeted in the first half of 2019, the next milestone will come before the end of this month. The UK oil field developer now awaits the completion of sea trials for the Aoka Mizu FPSO vessel which is said to be in the final stage of upgrades in Dubai.

SDX Energy Inc (LON:SDX) (CVE:SDX) has confirmed media reports that it is in discussions for the acquisition of a significant package of assets in Egypt from BP PLC. The firm said the acquisition would constitute a reverse takeover under AIM rules, and as a result, its shares have been suspended from trading with immediate effect.

Shares in Vast Resources PLC surged after it was granted more time to secure financing for its acquisition of a stake in the Blueberry project in Western Romania.

Stobart Group Ltd (LON:STOB) has continued to commercialise its core operating businesses in the six months to the end of August, delivering operational progress in its Aviation and Energy divisions.

Summit Therapeutics PLC (LON:SUMM) remains on track to begin phase III clinical trials of its ridinilazole C. difficile treatment the first quarter of next year. Summit recorded a profit of £26.6mln in the three months ended July 31, compared to a loss of £3.3mln a year earlier.

Iofina plc (LON:IOF) found the market hard to please on Thursday with a set of interims that revealed an increase in revenue and underlying earnings.

BlueRock Diamonds PLC (LON:BRD) shares jumped in early trading Thursday after reporting a narrowed loss for the first half of the year as average grades and production increased at its Kareevlei mine in South Africa.

Caledonia Mining Corporation PLC (LON:CMCL) has added 13% to the most certain category resource at the Blanket gold mine in Zimbabwe. Measured and Indicated ounces are now 805,000oz, up from 714,000oz in August 2017, from 6.74mln tonnes at a grade of 3.72 g/t.

Frontier IP Group Plc (LON:FIPP) has taken a 10% stake in Amprologix, a spin-out from the University of Plymouth.

NetScientific PLC’s (LON:NSCI) portfolio company, ProAxsis, has had two of its products selected for inclusion in a major upcoming clinical trial into respiratory diseases.

Mkango Resources Ltd (LON:MKA) has received another batch of encouraging assay results from its Songwe Hill development in Malawi. All nine drill holes intersected rare earth mineralisation, with grades in the best five holes up to 2.8% rare earth metals over widths of up to and over 30m.

Eco Atlantic Oil & Gas Ltd (LON: ECO, CVE:EOG) has agreed to increase its interests in the Tamar licence, offshore Namibia. The company has struck a share-based to buy-out partner Amis Oil and Gas Ltd, agreeing to issue 300,000 Eco shares in return for its 10% shareholding in the Pan Africa Oil Namibia Holdings vehicle, in turn effectively increasing Eco’s exposure to the Tamar licence up to 80% (from 72%).

The hot and dry weather in Colorado over the summer months has forced Highlands Natural Resources Plc’s (LON:HNR) partners to revise the fracking schedule at the East Denver project.

Range Resources Limited (LON:RRL) (ASX:RRS) said it has initiated a waterflood programme aimed at increasing water injection and oil production rates from early 2019 onwards as it expands in the South East (SE) area of the Beach Marcelle field in Trinidad.

Jersey Oil & Gas PLC (LON:JOG) chief executive Andrew Benitz said he is “very excited” over the prospects for the company’s key Verbier asset as partner and project operator Statoil advances an appraisal programme. Verbier was discovered with an exploration well almost a year ago, and, Statoil has subsequently put in place plans for a follow-up programme.

Eland Oil and Gas PLC (LON:ELA) has recorded its first ever profit after two new wells at its Opuama field in Nigeria meant production increased threefold.

Europa Metals Ltd (LON:EUZ) (ASX:EUZ) has increased the JORC mineral resources estimates for its 100%-owned Toral lead-zinc-silver project in northern Spain, following its recent re-logging programme of certain historical core samples.

Chaarat Gold Holdings Ltd’s (LON:CGH) Turkish mining contractor has begun deploying equipment at the Tulkubash gold deposit in the Kyrgyz Republic.

Alba Mineral Resources PLC (LON:ALBA) said a team had been dispatched to North Wales to carry out electromagnetic and magnetic geophysical surveys on its gold asset there. It follows the completion of a geochemical assessment of the Clogau-St David's mine area and near-mine extensions, samples from which have been sent for analysis.

Oracle Power PLC (LON:ORCP), which is developing a coal-fired generating plant in Pakistan, is plotting out the next phase of development of project as it eyes sign-off from the authorities. In an update alongside interim results, the company said it will put down a US$700,000 performance bond once the Private Power Infrastructure Board has granted a notice to proceed and formally rubber-stamped a letter of intent for the 700MW facility.

Galileo Resources PLC (LON:GLR) has announced that Beaumont Cornish Limited has ceased to act as its joint broker and therefore Novum Securities Limited will be the company's sole broker.

Motif Bio Plc (LON:MFTB) (NASDAQ:MTFB), the clinical-stage biopharmaceutical company specialising in developing novel antibiotics, has announced that iclaprim data will be presented at two upcoming scientific conferences – IDWeek  2018 in San Francisco from October 3-7, and the World Anti-Microbial Resistance Congress in Washington DC from October 25-26.


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