The day's small cap news was dominated by the latest UK oil & gas licensing round.
Europa Oil & Gas (LON:EOG) confirmed it has been offered new acreage via the UK’s 14th onshore licensing round.
It has stakes in a total of five licence blocks offered by the government.
Solo Oil (LON:SOLO) shares jumped as it was awarded a licence in the Isle of Wight.
The new licence covers an area of approximately 200 sq km covering five part blocks.
IGas Energy (LON:IGAS) confirmed it has been awarded 17 new licences as part of the UK’s 14th onshore licensing round.
Having been offered seven licence blocks earlier in the first tranche earlier this year, the company has now been offered ten more.
Egdon Resources (LON:EDR) was a clear winner in the 14th UK onshore licensing round as it picked up eleven licences, the City concluded.
The licences are in addition to seven blocks and part-blocks offered in the round’s first tranche awards in August.
As per July's farm-out agreement, Egdon Resources is to transfer a 10% interest in block TF38c in the East Midlands to Union Jack Oil (LON:UJO).
Egdon was part of the joint venture group that was awarded block TF38c in today's 14th Onshore Oil and Gas Licensing Round, and it will accordingly transfer over a 10% stake to Union Jack, as previously agreed.
Elsewhere in the oil sector, Providence Resources (LON:PVR) hopes to give an update on the Barryroe farm-out process in the New Year, and it highlighted that it is currently encouraged by ongoing talks over the project.
Tony O’Reilly, Providence chief executive, said: "Despite the continued fall in commodity prices, we have seen a marked increase in interest in our portfolio and work continues with a number of parties to progress the Barryroe farm out to a satisfactory conclusion."
Chariot Oil & Gas (LON:CHAR) remains active as it evaluates new venture opportunities.
The company, which expects to end 2015 with about US$39mln of cash, said its team is looking to “balance the risk profile with assets of suitable fit.”
Cameroon-based gas utility specialist Victoria Oil and Gas (LON:VOG) has appointed an industry veteran to its board.
Iain Patrick is to join as a non-executive director, bringing more than 30 years’ experience, the company announced on Thursday.
He has previously been director of commercial & legal affairs at Gulf Keystone Petroleum (LON:GKP) and is currently chief executive of the oil and gas consultancy, Trinity Energy.
Still on the energy theme, industrial fuel cell company AFC Energy (LON:AFC) has raised £2.47mln through a subscription share issue.
Investors subscribed for 12.37mln shares at 20p a pop, which is a 28.6% discount to the mid-market closing price on the day before the share issue was announced.
Retail investors will be offered the chance to buy shares at the same price.
Forte Energy (LON:FTE) is in talks to be taken over by Australian private investment firm Bos Global (BGL). The company has signed a funding deal with DJ Family Trust, which has a 51% stake in BGL, as a first step to reaching an in-principal reverse takeover agreement.
On to the software sector, where shares in mobile payment company Proxama (LON:PROX) rocketed as it announced a new US$1mln deal with an existing client and revenue doubled in its second half compared to the first.
The firm will provide its Europay, MasterCard, and Visa (EMV) industry standard technology to the unnamed US financial services company as it looks to move to chip-and-PIN payments in the US.
Is the tide turning for Brady plc (LON:BRY), supplier of trading and risk management solutions for metals, recycling, energy and soft commodities?
Possibly. This morning’s announcement reveals the company has landed three chunky new contracts, bringing a bit of festive cheer.
The firm said two top-tier global Japanese-owned trading companies have selected Brady Cloud solutions to support their trading and risk management requirements.
The online estate agency Purplebricks (LON:PURP) made a steady rather than spectacular start to life as a stock market quoted company.
In early trade the stock, listed at 100p, nudged up to 106.5p, before settling back to just under the pound mark.
Valued at £240.3mln, the company raised £25mln via a share placing with City institutions.
Atlantis Resources (LON:ARL) has become a major mover in the consolidation of the Scottish tidal power industry with a £6.6mln acquisition.
It is buying two projects from ScottishPower Renewables: the 10 megawatt (MW) Sound of Islay site in western Scotland and the 100MW Ness of Duncansby site, just east of Atlantis' flagship 398MW MeyGen project in north-eastern Scotland.
The deal is being done via its Tidal Power Scotland Ltd unit, which is issuing around 3.9mln shares, giving the vendor around 6% of TPSL.
Noricum (LON:NMG) has started drilling for gold at Kvemo Bolnisi, one of its priority targets at the recently acquired project in the Republic of Georgia.
The area to be explored has been selected for its fast track production potential, with this initial campaign designed to generate a JORC-compliant resource.
Stem cell specialist ReNeuron (LON:RENE) has held an inaugural meeting of its newly-established Scientific Advisory Board, which comprises nine leading academics and industry executives.
The board’s role is to advise on topics related to ReNeuron’s areas of activity such as the future direction of cell therapy, academic, regulatory industrial and governmental links and relations with the media and the public.
The board is expected to meet twice a year.
Summit Therapeutics (LON:SUMM, NASDAQ: SMMT) is readying itself for the next stage of clinical trials for treatments for Duchenne muscular dystrophy (DMD) and C. difficile infection (CDI).
The company ended its third quarter, 31 October, with cash of £22.2mln after losses for nine months of £12.1mln (£8.4mln) as it ramped up development work on both treatments.