Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) told investors that the Carrizales Norte 3 (CN-3) well has become its eighth well in a row to prove commercial hydrocarbons.
CN-3 was spudded in July and encountered multiple hydrocarbon-bearing intervals – in the C7, Gacheta and Ubaque formations – and within the latter two, “very thick” pay zones were identified and subsequently production tested.
ANGLE PLC (AIM:AGL, OTCQX:ANPCY), a specialist in liquid biopsies for cancer detection, is showing early signs of progress despite industry headwinds.
The share price, up 12% in early afternoon trade, reflects the progress outlined in the company's interim results statement.
Mosman Oil and Gas Ltd (AIM:MSMN) told investors it has decided to exit the Falcon project, following a review of the asset which has not been producing for a year.
The company, in a statement, said it completed an evaluation on further workovers at the Falcon-1 well and determined not to invest additional resources.
Condor Gold PLC (AIM:CNR, TSX:COG, OTC:CNDGF) said it continues to receive new enquiries for its assets in Nicaragua and remains confident of concluding a sale.
Mark Child, chief executive, said: “While the sales process is taking longer than anticipated, new enquiries continue to be received and the board is confident that a binding agreement will be reached.”
MP Evans Group PLC, a prominent player in the sustainable Indonesian palm oil sector, has unveiled plans to expand its plantation footprint through the acquisition of two Indonesian firms, P.T. Agro Bumi Kaltim (ABK) and P.T. Nusantara Agro Sentosa (NAS).
The transaction, valued at US$60 million, is expected to be finalised by the end of 2023, following the completion of necessary legal and regulatory procedures in Indonesia.
Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) said it has raised gross proceeds of £6.8 million (US$8.5 million) via a placing, subscription and retail offer as it prepares to drill the Tai-C well in Tanzania's Rukwa Basin later this month.
With the offer price at 6p per share, a 10.4% discount to the close price of 6.65p yesterday, the fundraise was oversubscribed.
Scancell Holdings PLC (AIM:SCLP, OTC:SCNLF), which is developing immunotherapies for cancer and infectious diseases, has announced the immediate appointment of Dr Mandeep Sehmi as its head of business development.
With over a decade of experience in the business development sector of biotechnology, her resume includes roles at Abcam (AIM:ABC), where she oversaw the cancer and metabolism portfolios, and Cancer Research Technology, with a focus on antibody out-licensing.
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) has announced a private share placing which will see the exploration company raise sufficient funds to meet a quarterly bond repayment, in cash.
The company noted that it would effectively be a “cash-neutral” pair of transactions and the dilution would be "materially similar" to paying the bondholder with shares.
Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) said assays from samples at the Uberaba phosphogypsum stack in Brazil indicate a higher rare earth content than its project under development at Phalaborwa in South Africa.
Initial analysis of the samples points to an average grade of 0.58% total rare earth oxides (TREO) compared to 0.44% TREO at Phalaborwa.
New Polarean Imaging PLC chief executive Christopher von Jako said he has identified five growth initiatives that also extend the group’s cash runway out to the middle of next year.
The advanced lung MRI scanning specialist reported results for the first half of 2023, having received approval from the US Food and Drug Administration (FDA) for its XENOVIEW (xenon Xe 129 hyperpolarized gas) technology in December, which enabled it to start selling its products to the clinical market.
ANGLE PLC (AIM:AGL, OTCQX:ANPCY), the liquid biopsy company specialising in circulating tumour cell (CTC) diagnostic solutions, anticipates continued robust momentum in the second half of 2023.
The company's pipeline for products and services is developing positively and it expects to deliver revenue in line with market predictions for the entire year, investors were told.
Hikma Pharmaceuticals PLC (LSE:HIK, OTC:HKMPF), the FTSE 100 drug developer, is progressing with the development of AT307, an injectable technology initially crafted by Arecor Therapeutics PLC (AIM:AREC).
In January 2023, Arecor handed over all rights and responsibilities concerning AT307 to Hikma. This transition was part of an earlier collaboration in which Arecor used its specialised drug-making platform, Arestat, to create a ready-to-use version of a pre-existing medicine.