Metal Tiger (LON:MTR) is to split into two distinct subsidiaries to give better visibility to the projects it is developing.
Paul Johnson, chief executive said it has been increasingly focused on its major development projects in Botswana, Spain and Thailand.
In other news, Metal Tiger partner Kibo Mining (LON:KIBO) has been urged to fast track its Mbeya coal to power project in Tanzania after meeting with the minister of energy and minerals.
“It is highly encouraging to receive continued support from the Tanzanian government,” said chief executive Louis Coetzee.
Kris Energy’s (SGX:SK3) ramp-up in production in the Gulf of Thailand is paying off. It revealed a 27% in production and that output had grown to 19,000 barrels per day by the year’s end.
Premier Oil (LON:PMO) has written off $558mln from the value of the Solan field in the North Sea, its key growth asset which is due online shortly.
The programme has been impacted by adverse weather, but commissioning is now almost complete. The ramp-up of the field’s production will be a key focus for the company in the coming months.
Gold miner Stratex International‘s (LON:STI) joint venture in Djibouti, Thani Stratex, has arranged US$1.25mln of funding for a first drill programme in the African country.
NurtureEx will provide the cash through a non-repayable and interest-free convertible loan.
Additionally, Hummingbird Resources (LON:HUM) has extended its US$15m bridge facility with Taurus Mining for six months to September.
The gold junior said the extension will allow more time for the two to put together a finance package for the Yanfolila Gold project in Mali.
And finally, fuel cell developer Ceres Power (LON:CWR) told investors its agreement with Japanese powerhouse Honda is the first of several commercial partnerships it expects to sign this year.
The group also anticipates a boost in revenue in the second half of its current fiscal year.