Frackers received a boost today, particularly IGas (LON:IGAS), which welcomed government plans to potentially fast-track planning decisions for shale gas and fracking projects.
New government measures will give local councils up to 16 weeks to either grant or deny fracking before Westminster steps in.
In more conventional oil news, Canadian Overseas Petroleum (LON:COPL, CVE:XOP) shares were unchanged in London as the offshore sub-Sahara focused oil and gas group released latest half year results, which confirmed its strategy of growing the business through farming into, or acquiring assets.
Short term, the focus is on working with partner ExxonMobil to progress planning on future drilling in Liberia and seeking opportunities in the sub-Saharan region it works in.
Elsewhere, Independent Oil & Gas (LON:IOG) has extended the deadline for its proposed acquisition of the Skipper project as it seeks new funding arrangements.
The company had previously aimed to close a major funding deal during August, however, that deal will no longer go ahead.
In earnings news, Caza Oil & Gas (LON:CAZA, TSE:CAZA) chief executive Michael Ford declared himself “pleased overall” with the performance of the company’s producing properties.
He said, in today’s second quarter financial results statement, that drilling and service costs continue to “adjust downward” with falling commodity prices and that the company’s assets in the Bone Spring play can still deliver acceptable economic returns.
Elsewhere, Venn Life Sciences (LON:VENN) said its revenues in the first half are 170% up on the year earlier as it gave an upbeat assessment of prospects.
The growing clinical research group said billings exceeded €4mln in the six months to June 30 driven by contract wins totalling €9mln in the period.
In mining news, Caledonia Mining (LON:CMCL,TSE:CAL) says its Blanket mine in Zimbabwe continues to be profitable despite the lower gold price, and expects output to be lifted from 2016 as its investment plan takes hold.
Reporting results for the first half to end June, the group said the gold price had fallen significantly since the period end - to now below US$1,100 per ounce, which will impact cash generation.
Meanwhile, Metminco (LON:MNC) has received a boost in its dispute over mining rights at the Mollacas project in Chile after the country’s Supreme Court said it would hear its appeal.
The copper explorer described the decision as a significant development as it reversed a previous ruling.
In other news, Cohort (LON:CHRT) landed an £11.2mln contract to supply the UK Ministry of Defence with hearing protection products after winning a competitive tender.
The defence group said further orders are expected over the life of the deal.
Another company signing a contract was virtual queuing specialist Accesso (LON:ACSO) which signed a five year extension to its contract with Australian theme park Dreamworld.
Dreamworld, which includes 50 rides and wildlife attractions, was the first Australian customer to adopt the group's LoQueue solution.
Elsewhere, Action Hotels (LON:AHCG) has officially opened the 168-room Premier Inn, Sharjah.
It welcomed its first guests on Wednesday and Action said business enquiries have been “encouraging”.
Finally, Midatech Pharma (LON:MTPH) is to work with US–listed Ophthotech Corporation (NASDAQ:OPHT) on new treatments for macular degeneration of the eyes.
In particular, the two companies will explore a combination of Midatech's nano - based delivery systems with Ophthotech’s products for the treatment of wet age-related macular generation, a common and debilitating eye disease among the elderly.