Mosman Oil and Gas Ltd (AIM:MSMN) has described its initial production rates from the Cinnabar-1 well as “very positive”, today highlighting that more than 1,000 barrels of crude have been produced since it was completed in late December.
The small-cap oil company, in a statement, said that the Cinnabar well was completed – perforating the targeted Upper Wilcox sands – and subsequent tests on 3 and 4 January yielded average production rates of 150 barrels oil equivalent per day (120 barrels of oil and 180,000 cubic feet of gas).
Quantum Blockchain Technologies PLC (AIM:QBT) (QBT) said it has hired Dr Lov Kumar Grover, a pioneer in quantum computing, to advise on its proprietary quantum version of the SHA-256 bitcoin mining algorithm.
Grover, who authored the first quantum algorithm for database searches while working as a scientist at AT&T Bell Labs, will work with QBT for an initial three-month period, during which he has been granted five million warrants exercisable at 5p per share before October 31, 2023.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) said it has completed the acquisition of Bilboes Gold Limited, the parent company which owns, through a subsidiary, the Bilboes gold project in Zimbabwe.
Commenting on the news in a statement, Mark Learmonth, the company's chief executive officer, said: "Completion of the transaction is the cornerstone in Caledonia's strategy to create a mid-tier, multi-asset gold producer focussed on Zimbabwe.
CentralNic Group PLC (AIM:CNIC) in a statement confirmed the issue of shares following the exercise of options previously granted by the company.
Baker Steel Resources Trust Ltd (LSE:BSRT) confirmed in a statement the sale of its interest in Bilboes Gold Limited to Caledonia Mining.
Hydrogen Future Industries PLC (AQSE:HFI) gave notice for its annual general meeting which will be held in London, on 31 January 2023.
Canadian Overseas Petroleum Limited (LSE:COPL, CSE:XOP) announced the issue of 2.52mln shares in the company (worth US$200,000 of principal), resulting from the conversion of 2024 bonds. A further US411mln of convertible bonds remain outstanding,