Eland Oil & Gas PLC (LON:ELA) has revealed the latest results of the Ubima-1 appraisal well which effectively opens up additional source of production and revenue for the company. The Nigeria focused oil company, in a stock market statement, reported that the E1000/E2000 reservoirs produced between 900 and 1,000 barrels of oil per day in testing.
Regency Mines PLC (LON:RGM) has secured an option to acquire a 50% interest in a North American vanadium exploration project. The AIM company is in the process of carrying out due diligence and has 45 days to come back to the seller with an answer.
Steve Couldwell, the chief executive of regenerative medicines specialist Tissue Regenix Group PLC (LON:TRX), is take a temporary leave of absence early next year in order to undergo medical treatment.
Rose Petroleum PLC (LON:ROSE) confirmed it is lined up to drill a well in the first quarter of 2019 after it agreed an updated operational plan with the Utah Bureau of Land Management. As part of the agreement the boundary of the Gunnison Valley Unit (GVU), in the Paradox Basin, has been extended to include acreage acquired by Rose earlier this year. Big Pic in July.
Sativa Investments PLC (NEX:SATI) has appointed an award-winning pain medicine and anaesthetic consultant to its medical cannabis advisory board. Matthew Brown is a consultant at the Royal Marsden hospital in West London and recently published research into using cannabinoids for cancer pain treatment. Big Pic in October.
Afritin Mining Limited (LON:ATM) said the first large-scale blast has taken place at its Uis tin mine in Namibia. Big Pic in July.
Base Resources Limited (LON:BSE) (ASX:BSE) announced that it has been granted a prospecting license for the Vanga area in Kenya. The group said the Vanga license is valid for three years and covers an area of 136 square kilometres, extending south west from the company’s existing Kwale Operation towards the Tanzanian border. Big Pic in August.
Adamas Finance Asia Limited (LON:ADAM) has announced a new investment in Infinity Capital Group Limited (ICG) through a senior secured loan note, with a principal of US$4.0mln paying a coupon of 17.5% per annum in cash. The group noted that ICG develops premium residential projects in Hirafu Village, a world-class ski village in Niseko, Japan - one of the most popular winter travel destinations in the world.
Cabot Energy PLC (LON:CAB) has told investors that new measures by the Alberta authorities to cut-back crude production in the short-term won’t impact its business. The regional government has this week revealed it will mandate a reduction in oil production by 325,000 barrels of oil per day, which represents a clip of about 8.7%, in order to address surpluses in the local market.
Mirada Plc (LON:MIRA) has revealed that it is close to signing a contract with Skytel LLC, a leading communications service provider in Mongolia, in an email of its draft interim results released in error to a number of third parties. The AIM-listed provider of integrated software solutions for Digital TV operators and broadcasters disclosed the contract news in a statement explaining why trading in its shares on AIM had been temporarily suspended from 8:40am on Tuesday.
Union Jack Oil PLC (LON:UJO) expects to drilling to start for the Biscathorpe-2 appraisal well in the new year. The company, in a statement, told investors that site construction is expected to complete this month, the drill rig will be mobilised in early January, and will be completed in mid-February.
Tekcapital PLC’s (LON:TEK) wholly-owned portfolio company, Guident Ltd, has appointed the former head of General Motors’ Cadillac division as a director. Johan de Nysschen stepped down as GM vice president and president of Cadillac earlier this year after almost four years at the company to pursue other interests.
EQTEC Plc (LON: EQT) said that, having been advised its current nominated adviser, Northland Capital will be removed from the register of Nomads with effect on 1 February 2019 due to its proposed merger with SPAngel, its directors are in discussions with another Nomad at present and anticipates a smooth and orderly transition of the role. The firm said it will provide a further update as soon as practicable.