Shares in Mosman Oil And Gas Ltd (LON:MSMN) more than doubled on Wednesday morning after it confirmed it had bought an 80% interest in a producing Texas oil field.
Mosman told investors that it paid £786,000 for the majority stake in the Pine Mills oil field in Wood County.
Elsewhere, drilling has begun on Hurricane Energy PLC’s (LON:HUR) latest well in the West of Shetland region of the UK North Sea.
The well, called the Lincoln Well, is targeting a similar structure to the very large Lancaster field that is located nearby.
Further from home, Premier African Minerals Limited (LON:PREM) has recorded significant lithium grades from its latest drilling at its Zulu lithium and tantalum project in Zimbabwe.
All eight holes drilled intersected lithium with greater than 2% lithium (as Li2O) grades reported over bore hole intersections of up to 20 metres.
Gene editing specialist Horizon Discovery Group PLC (LON:HZD) has extended its partnership with CareDx, Inc after it entered into an Original Equipment Manufacturer (OEM) agreement with the molecular diagnostics business.
Under the terms of the deal, Horizon will supply cell-free DNA-based molecular reference standards to CareDx as part of the latter’s research into transplanted organ rejection.
In other news, DiamondCorp PLC (LON:DCP) has drawn down a further £300,000 of its financing facility with Rasmala.
Rasmala, which owns 11.6% of Diamondcorp, agreed to provide £0.7mln in short-term funds last month through a Shariah-compliant secured convertible facility.
Production at Diamondcorp’s Lace mine in South Africa is in line with expectations, with the balance of the 5,000 carats of diamond inventory – against which the facility is collateralised – expected to be processed today.
Porta Communications PLC (LON:PTCM), the international communications and marketing group, has restructured its loan arrangement with Virgin Islands-registered Retro Grand Limited.
The company has agreed a replacement facility with Retro Grand to re-finance, on similar terms, the existing convertible loan from Retro Grand, which had a carrying value of £5.0mln as at 30 June 2016.
Elsewhere, Jubilee Platinum PLC’s (LON:JLP) subsidiary, Braemore Nickel, has had its tailings supply agreement covering the Leinster nickel operations in Western Australia terminated by mining giant BHP Billiton plc (LON:BHP).
Braemore has told BHP that it rejects the notice since it believes there is no legal or factual basis for such a termination.
Legal processes between Providence Resources PLC (LON:PVR) and Transocean have come to an end, after the Supreme Court of the United Kingdom refused a request for an appeal of a prior ruling, handed down in April 2016.
The Supreme Court decided that he appeal does not raise a point of law of general public importance, Providence said.
British financial services giant Legal & General (LON:LGEN) has been revealed as one of the new significant investors in specialist drug discovery and development firm ImmuPharma PLC (LON:IMM).
Legal & General holds 4.3mln ImmuPharma shares, representing just over 3.4% of the company's total voting rights.
And finally, KEFI Minerals plc (LON:KEFI) said financiers of its Tulu Kapi gold project in Ethiopia visited the site this week.