Energy stories dominate the news round-up today, starting with high flying Mosman.
Mosman Oil and Gas (LON:MSMN) is in advanced talks to make a “transformational” acquisition.
If completed the deal would provide immediate production and cash flow, the New Zealand-based oil and gas group said.
The explorer would become the operator of a project containing onshore oil and gas producing fields, reserves and resources (both 2P + 2C) and associated processing facilities and infrastructure.
Greka Drilling (LON:GDL) completed 50% more wells compared to its previous half year as main customer Green Dragon Gas upped its gas field development activity in China.
The group drilled 28 wells (19) in the six months to June, 19 of which were in China and nine in India for Essar.
Green Dragon (LON:GDG) accounted for 18 of the Chinese wells though Essar has now suspended its drilling campaign, Greka said, which will hit revenues in the second half of the year.
Primeline Energy Holdings (CVE:PEH) has chosen China Oilfield Service (COSL) as the drilling contractor for two offshore wells in Block 33/07 in the East China Sea.
The total drilling costs will be around US$20mln, excluding flow test expenditure if any oil and gas is discovered.
Nevada- focused US Oil and Gas (GXG:USOP) revealed that GXG Markets, where it is listed, is to be sold to The Channel Islands Securities Exchange Limited (CISE).
Current listings that meet CISEA's listings and disclosure rules will have the opportunity to go over to CISE by August 18 this year, said USOP.
Petroceltic International (LON:PCI) has received another request for an EGM from shareholder Worldview Capital, while also being served with a writ for not undertaking a review of its business.
In the mining sector, Kalimantan Gold, the exploration and development company with copper and gold projects in Indonesia, is to change its name to Asiamet Resources (LON:ARS).
Chief executive Tony Manini said the name change had been implemented to reflect recent changes in the strategic direction of the company.
Recently, the company’s focus shifted away from gold towards copper, the great industrial metal that the Chinese have been consuming in huge quantities for more than two decades now.
Talking of copper, Kincora Copper's (CVE:KCC) major shareholder Origo Partners will hold an increased stake in the company as the Toronto-listed firm plans to issue it with over 14mln shares in settlement of a convertible loan.
Kincora will issue 4.35mln shares at five Canadian cents to settle annual interest, while 10 million shares at 25 cents will be issued to finally clear the C$2.5mln loan.
Finally, on to the tech sector, where mobile TV specialist Motive (LON:MTV) has extended its contract with Digiturk, the largest satellite broadcaster in Turkey, to the end of 2016 so it can upgrade the content platform.
It means Digiturk can then support the delivery of ultra-high definition content, often referred to as '4K UHD', for its subscribers.