Africa Oil Corp (TSX:AOI) has noted that its investee company, Impact Oil & Gas Limited, will be imminently commencing a multi-well appraisal and exploration drilling program in Namibia, following the Venus light oil discovery in Block 2913B (PEL 56).
The Venus discovery is a world-class light oil and associated gas field, located in the Orange Basin, approximately 290 kilometres off the coast of southern Namibia, and in water depth of approximately 3,000 metres (m). The well was drilled to a total depth of 6,296m, by the Maersk Voyager drillship, and encountered a high-quality light oil-bearing sandstone reservoir of Lower Cretaceous age.
Harry Hyman, chief executive of Primary Health Properties PLC (LSE:PHP, OTC:PHPRF), called the company’s operational and financial performance in 2022 resilient as he hailed a 27th year of dividend growth.
PHP, which owns surgeries and centres used by doctors, hiked the pay-out by 4.8% to 6.5p a share as net rental income grew by 3.5% to £141.5mln in the 12 months to 31 December 2022. This gave adjusted earnings of £88.7mln, up 6.6% from the year earlier.
Ariana Resources PLC (AIM:AAU) has announced positive results from an Induced Polarization (IP)/Resistivity geophysical survey conducted by the company at the Kiziltepe Project in western Turkey which confirms the presence of extensions to several mined vein systems.
The AIM-listed mineral exploration and development company with gold mining interests in Europe said the comprehensive geophysical survey programme across the Sindirgi Gold Corridor was completed in late 2022 and confirmed new near-surface drill targets are defined at the far northwest extensions of Arzu North and Arzu South and towards the southeast of the mined vein systems.
Seeing Machines Ltd (AIM:SEE, OTC:SEEMF) hailed a record first-half result as revenues rose 54% and a strengthened balance sheet meant it is “fully funded to deliver on its current business plan” and on track to meet expectations for the full year.
The AI driver-monitoring technology specialist said it expects to report revenue of US$24.4mln for the six months to 31 December 2022, up from US$15.8mln a year earlier.
Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) said it has placed orders for the major items of equipment required for production from its new Zafar and Gilar mines, and also said it made progress with the upgrades to its Gedabek flotation plant.
The AIM-listed gold, copper and silver producer focused on Azerbaijan said the equipment for the Zafar and Gilar mines includes an underground fleet from Caterpillar and drilling machinery from Epiroc. The total equipment cost is around US$10mln, approximately 40% of which will be met from the company's existing cash reserves with the remaining being financed through vendor financing.
Powerhouse Energy Group PLC (AIM:PHE) has signed a framework services agreement with Petrofac, the oil, gas and energy facilities fabricator.
Petrofac will provide engineering design and supply chain development services for Powerhouse’s project pipeline, including the plastics to hydrogen plant at the Protos Energy Park near Chester.
NextEnergy Solar Fund Ltd (LSE:NESF) has published information for investors on the proposed expansion of its energy storage strategy, as it consults on potentially increasing its investment in the area.
The investment trust has proposed expanding the limit on its investment in standalone energy storage systems from 10% to 25% of gross asset value at the time of investment.