Chairman of Mosman Oil (LON:MSMN), John Barr told Proactive Investors that he was “shell-shocked” after the South Taranaki Energy Project (STEP) deal was called off. Origin Energy's STEP in New Zealand no longer met its investment criteria at current oil and gas prices and the deal was terminated.
Additionally, Aminex (LON:AEX) has abandoned its plans to sell a proportion of its interests in Tanzania to UK-listed peer Bowleven (LON:BLVN). The companies failed to agree an acceptable forward work programme during the due diligence process.
Better news over at Premier Oil (LON:PMO). Shares shot up over 100% as it resumed trading in London after being suspended. Shares were suspended after it agreed to buy the group’s North Sea assets.
Meanwhile, shares in mining firm North River (LON:NRRP) surged almost 27% as it took a key step toward a mining licence for its flagship Namib lead-zinc project. The ministry of mines and energy issues the firm a “notice of preparedness” to grant the licence.
In other news, aircraft leasing company Avation PLC (LON:AVAP) has completed the acquisition of an Airbus A320. The aircraft was leased to Air Berlin and has a remaining term of more than five years, typical for an aircraft of this type according to the company statement. The financing of the acquisition was supported by a senior debt facility of around US$25mln.
Elsewhere, Indian power plant operator OPG Power Ventures (LON:OPG) announced that its second 150 megawatt (MW) unit at its Gujarat plant has commenced commercial operations. The industrial energy supplies are set to issue its Q3 trading update in the week commencing 22 February.
Drug developer Sareum (LON:SAR) has submitted a cancer trial application to the UK Medicines and Healthcare products Regulatory Agency. The application means a £200,000 success milestone payment to the developer from Cancer Research Technology.
Sticking with biotech, ReNeuron (LON:RENE) was issued a Notice of Allowance from the US Patent and Trademark Office for a key patent application covering its cell cryopreservation technology. On-going UK clinical trials in both stroke disability and critical limb ischaemia include the technology.
Over at Real Good Food (LON:RGD) final profits for its 2016 year are expected to fall short of market expectations. Increased investment is anticipated to have hit short-term margins, but it remains confident on future growth.
Meanwhile, DiamondCorp (LON:DCP) has welcomed a new board member. Downstream diamond industry specialist Chris Ellis has been hired as an independent non-executive director, the firm said. He will replace Nick Allen who announced his retirement from the role earlier this year.
And finally, TabletTV provider Motive Television (LON:MTV) has received approval for its App, which has now been released for sale on the Apple TV platform in the US. The firm also announced the resignation of its nominated adviser Sanlam. Motive said it was in discussions with several nominated advisers and hopes to announce a replacement shortly. Chairman Michael Pilsworth called the timing “unfortunate”.