Sound Energy PLC (LON:SOU) has begun drilling its second gas well on the Tendrara concession, onshore in Morocco following the recent success of the first.
Work on TE-7 got underway on Thursday with aim of assessing the potential of block ahead of putting together a field development plan.
The latest drilling is taking place around 1.6 kilometres from the site of TE-6 and will go down to 3,440 meters.
San Leon Energy Plc (LON:SLE) marked a 90% rise in Friday’s early deals as the suspension that had frozen trading for the first eight months of 2016 was lifted.
The company, which is now closing its transactions to acquire material interests in a Nigerian oil field, this morning confirmed the details of a premium price share placing to raise £170.3mln (US$221.4mln).
It is issuing new shares at a price of 45p, a 54% premium to San Leon’s last price before trading was suspended in January.
ITM Power (LON:ITM), which produces hydrogen fuel for vehicles, has increased its portfolio of customers - striking a deal with Arcola Energy, which supports fleet operators.
ITM will supply hydrogen at £10/kg - the lowest priced hydrogen in the UK.
It follows Arcola's deal with Symbio FCell to provide an integrated package of zero emission commercial vehicles, on-site fuel and after-sales support for UK commercial fleet operators.
ECR Minerals (LON:ECR) has given notice to terminate its earn-in Option in respect of the Danglay project in the Philippines.
To date, ECR has earned a 25% interest in the project, irrespective of the termination of the earn-in.
African Potash (LON:AFPO has received an order for 1,500 Metric Tonnes (Mt) of urea from the state-run Zambia Co-Operative Federation (ZCF).
The order comes under the scope of the Zambia government’s e-voucher scheme and is part of a fertiliser supply agreement previously agreed.
Metals Exploration Plc (LON:MTL) has said it needs another immediate injection of funds after delays in getting its Runruno gold mine in the Philippines up and running.
Just last month the group raised US$5mln but major debt restructuring discussions have yet to be resolved and revenue from a first gold sale is not expected until late September.
Junior miner North River Resources PLC (LON:NRRP) has strengthened the management of its subsidiary in Namibia while its waits for a permit to restart the Namib mine.
Asser Kapere, Ratonda Katjivikua, and Francois du Plessis have all become directors of NLZM, the locally based holder of the Namib project.
Kapere, who will chair NZLM’s board, is also chairman and founder of the not-for-profit Erongo Development Foundation and a former government minister. He chaired the National Council of Namibia from December 2004 to 2015.
Victoria Oil & Gas plc (LON:VOG) has given investors details about an arbitration process with RSM Production Corporation, which is a stakeholder in the Logbaba field.
A prior battle between VOG and RSM resulted in the latter being reinstated as a partner in the field. There have been a number of disagreements between the parties relating to the investments into the field and the payment of cash calls for the operations.
Metal Tiger PLC (LON:MTR) has proposed a restructuring of its balance sheet to clear the way for dividend payments.
Shareholders will vote in October on a capital reduction that will eliminate historical losses being carried at the moment.
Metal Tiger has a range of direct resource investments and stakes in other junior miners.