Europa Oil & Gas (Holdings) Plc (LON:EOG) has increased its footprint onshore UK by acquiring Shale Petroleum (UK) Limited.
The deal, for a nominal £1 fee, sees the company raise its stakes in the PEDL299 and PEDL343 licences which were awarded in the 14th Licensing Round.
In other news, Thor Mining (ASX:THR, LON:THR) has announced a new drill campaign close to its existing Molyhil tungsten deposit in the Northern Territory of Australia.
The 50-hole campaign is designed to confirm the close proximity of additional tungsten mineralisation within a six kilometre radius of the Molyhill tungsten deposit, targeting magnetic anomalies with similar characteristics to Molyhill.
Over at Ithaca Energy Inc (LON:IAE) the start-up of the Stella field remains the main focus, which revealed a positive first half of operations in the North Sea Monday.
Production was strong in the six months to June 30 tallied at 9,378 barrels oil equivalent per day, beating guidance for 9,000 boepd. Operating costs reduced too. The company forecasts its ‘pre-Stella’ costs to US$25 per boe which is 17% lower than before.
Meanwhile, copper mineralisation has been confirmed at T2 West on the property being jointly developed by Metal Tiger PLC (LON:MTR) and MOD Resources Ltd (ASX:MOD).
Metal Tiger, which owns 30% of the project in the Kalahari copper belt, said copper (Cu) mineralisation was confirmed in both of the first two reverse circulation (RC) holes drilled at T2 West, which is located 20 kilometres north of the T3 resource drilling area.
Elsewhere, ServicePower Technologies Plc (LON:SVR) has unveiled details of three new partnerships which are expected to boost its sales efforts.
In the United States it has teamed up with Bolt Data with the American consultant providing sales, implementation and support services for ServicePower’s Optimization on Demand and NEXUS FST products.
Next, with a new ‘buy’ recommendation and a 50p price target stockbroker finnCap sees more than 100% upside to the current price for Hurricane Energy Plc (LON:HUR).
FinnCap analyst Dougie Youngson in a note today highlighted that Hurricane’s Lancaster field is one of the largest undeveloped fields in the UK North Sea. And he added that the field was of “strategic significance” as it promises to open up a new area of production.
And finally, Sunrise Resources Plc (LON:SRES) has reported positive progress on its Pozz Ash naturalpozzolan “natural cement” project in Nevada.
Two bench tests have been carried out by a concrete producer using raw Pozz Ash as a replacement for ordinary Portland Cement at 20% and 25% substitution levels. After 28 days setting time the Pozz Ash concrete had between 72-75% relative strength and 9% extra water demand, Sunrise revealed.