Providence Resources (LON:PVR) will collaborate with Schlumberger in its exploration off Ireland’s west coast.
Through a strategic and incentivised collaboration agreement Schlumberger will work with Providence in the Southern Porcupine and Goban Spur basins and as such, PVR highlights that Schlumberger will provide its ‘state of the art’ technology.
It was one of a number of announcements from the oil & gas sector today.
Elsewhere, Union Jack Oil (LON:UJO) has confirmed it has completed its acquisition of a 10% stake in the Keddington oil field, onshore UK.
As a result of the deal with Egdon Resources (LON:EDR) the company is now one of four partners in licence PEDL005, which also hosts the Louth and the North Somercotes prospects.
Nostra Terra (LON:NTOG) and Independent Resources (LON:IRG) are to set up a new joint venture to pursue new projects in North Africa.
Talks are currently ongoing over the first potential acquisition.
Cluff Natural Resources’ (LON:CLNR) underground coal gasification (UCG) plans have been boosted by an independent economic consultant, which highlighted potential long term economic benefits for the UK.
Despite conditions in the E&P sector, unconventional gas driller Greka Drilling (LON:GDL) is confident full year 2015 results will be better than for 2014.
In its interims today, the AIM stock reported a 33% increase in revenue in the six months to US$11.9 million compared to US$8.9 million in the first half of 2014.
Speaking of earnings, DP Poland (LON:DPP), the Domino’s Pizza franchise holder for Poland, slashed half year losses as underlying sales growth continued to run well into double figures.
Meanwhile, proximity marketing specialist Proxama (LON:PROX) expects its financial position to improve substantially by this time next year after cutting back heavily on costs over the past six months.
Elsewhere, Allergy Therapeutics (LON:AGY) reported that its profits beat expectations.
Revenues from the maker of the Pollinex range of vaccines rose by 11% to £46.6mln in the year to June, giving a £700,000 operating profit. The business generated £2.5mln of cash.
In other pharma news, Advanced Oncotherapy (LON:AVO) has received a first milestone payment for its cancer treating LIGHT Proton Therapy System.
Clinigen Group’s (LON:CLIN) Idis business has teamed up with Neuraltus Pharmaceuticals to provide access in Europe to a drug the latter is developing for amyotrophic lateral sclerosis.
Also known as Lou Gehrig's disease, after the New York Yankee’s baseball hero who died from ALS, the neurodegenerative disorder affects 400,000 people worldwide - 50,000 of them here in Europe.
Meanwhile, Abzena (LON:ABZA) said two further composite human antibodies that it has created for partners have progressed into clinical development.
To mining – and Rare Earth Minerals (LON:REM) hopes its supply deal with high-profile electric car group Tesla will be the first of several off-take agreements for its lithium.
In late August, the firm, in conjunction with joint venture partner Bacanora Minerals (LON:BCN), signed up battery maker Tesla as a potential customer for lithium mined from the Sonora project in Mexico.
In other news, Metminco (LON:MNC) has responded to changed economic circumstances in the mining sector with a new plan to develop its Los Calatos copper project in Peru.
Two out of the three core elements of Caledonia Mining’s (LON:CMCL, TSE:CAL) plans to improve output at its flagship Blanket gold mine in Zimbabwe are now in place.
Meanwhile, further targets for exploration have been identified at Canada-focused Landore Resources' (LON:LND) flagship project following an extensive review of all geophysical work done at the site.
To tech – and Seeing Machines (LON:SEE), the developer of eye-tracking technology, said it expects to deliver its first driver monitoring product for the automotive market in the current financial year.
Elsewhere, Versarien (LON:VRS), the engineering materials specialist, has been invited to a high profile conference in San Francisco, which offers it the chance to expand into the USA.
Finally, VinaCapital Vietnam Opportunity Fund’s (LON:VOF) subsidiary Visaka Holdings bought back 525,000 shares at US$2.34 per share.