It’s been a good fay for a handful of resource companies.
Shares in Falcon Oil & Gas (LON:FOG, CVE:FO) soared 50% after it gave an indication as to what lies beneath the surface of its acreage in Northern Territory’s Beetaloo Basin.
Citing figures produced by Origin Energy, its partner in and operator of 16,000-square kilometres of licences, the gross best estimate of gas in place is put at a world-class 496 trillion cubic feet (TCF).
Converting that to oil equivalent, it stacks up to 82bn barrels of the black sticky stuff.
Shares in Galileo Resources PLC (LON:GLR) rose after it revealed drilling is set to kick off today at its Concordia copper project in the Northern Cape Province of South Africa.
The drilling programme will initially comprise up to six reverse circulation drill holes down to 300 metres depth.
Shares in resources investor Metal Tiger PLC (LON:MTR) soared as investors anticipated good news from its joint venture partner in Botswana, MOD Resources (ASX:MOD).
MOD is about to release “significant drill results” from below the proposed T3 copper/silver pit.
Lansdowne Oil & Gas (LON:LOGP) has decided to relinquish its standard exploration licence 4/07 offshore Ireland after disappointing volumes at a well on the site.
The AIM-traded oil and gas explorer, focused on the North Celtic Sea, said the 49/11-3 well on the Midleton prospect found gas in its main reservoir target but the volume was considered too small to be commercial.
All work for the environmental and social impact assessment has been completed at Kibo Mining PLC’s (LON:KIBO) Mbeya coal-to-power project (MCPP) in Tanzania.
The company is now awaiting certification.
One of the world’s biggest recyclers of scrap metals has agreed to help finance Macarthur Minerals’ (CVE:MMS) Ularring hematite iron ore project in Western Australia.
According to Rare Earth Minerals (LON:REM, OTCMKTS:REMMY), which owns 16.56% of Toronto-listed Macarthur, Singapore-based Tulshyan Group has agreed to stump up A$200mln, kicking off with an initial A$50mln tranche.
There was less good news, at least in terms of share price reaction, from Ferrum Crescent Limited (LON:FCR), which is reconsidering its options at its Moonlight iron project in South Africa after parting ways with its joint venture (JV) partner Business Venture Investments.
The farm-in and JV agreement was terminated after BVI failed to complete phase one of a bankable feasibility study.
Away from the resources sector, albeit not a million miles away, green energy group Powerhouse Energy Group PLC (LON:PHE) has raised £2.5mln by placing shares at 0.8p a share.
The funds raised will largely be used to repay the convertible loan note facility with Hillgrove, with the finance house Hillgrove accepting a £2mln offer to buy back the unconverted loan notes.
Another energy firm, AFC Energy plc (LON:AFC), has brought in £6mln following the issue of 60mln new shares at 10p each.
In the pharma sector, if you were watching BBC2 last night (Tuesday), you might have seen cell-based therapeutics specialist ReNeuron Group Plc (LON:RENE) feature in ‘Andrew Marr: My Brain and Me’.
In the documentary Marr explores pioneering stroke treatments after her suffered a life-threatening stroke a few years ago which has left him with reduced movement down the left hand side of his body.
NetScientific PLC (LON:NSCI), the healthcare investment group, said the chief scientific officer of one of its investee companies has won industry recognition.
Vortex Biosciences' Elodie Sollier-Christen received the 2017 Society award for Laboratory Automation and Screening Innovation.
Finally, the new non-executive of Tern PLC’s (LON:TERN) Internet of Things (IoT) subsidiary Device Authority has ploughed a decent chunk of his own money into the firm.
Former McAfee, Inc (NYSE:MFE) chairman and chief executive George Samenuk only joined the Device Authority board last month but has already bought £50,000 worth of shares in the IoT firm.