Jersey Oil and Gas PLC (LON:JOG) climbed 10% as it unveiled a handy upgrade to its Verbier asset in the North Sea.
Verbier, to be drilled by partner Statoil in the summer, is now estimated to host some 162mln barrels of oil equivalent resources, up from a prior estimate of 118mln barrels.
The chance of success for the upcoming well was also upgraded - to 29% from 26%.
Oil commentator Malcolm Graham-Wood said the fact that Jersey has been able to farm-out to Statoil was a very high accolade in itself.
He said that his contacts at Statoil reckon Verbier is among its top four top drilling prospects this year.
“For a company this size if this was to come in it would be huge and even if it doesn’t the share price will run up as summer approaches and drilling nears.”
Watch: Jersey Oil & Gas' Verbier exploration project 'a no-brainer', says Malcolm Graham-Wood
Beowulf Mining plc (LON:BEM) was under pressure despite an encouraging statement regarding its graphite drilling in Finland.
Eight holes were drilled, approximately 1,197 metres (m) in total, with the first four drill holes extending 350m along strike for the main conductive zone.
Substantial graphite mineralisation intersections were found in all holes, including up to 113.5m down-hole width for the longest drill hole.
Shares eased 9% to 9p.
1.30pm...SpaceandPeople rallies on recovery hopes
SpaceandPeople Plc (LON:SAL) climbed 30% to 22.75p as it indicated a return to profit was on the cards after heavy retrenchment in Germany and France.
Losses in the year to December were £600,000, mostly one-offs, but the core UK business is now showing promising signs of early growth in 2017, said the marketing group.
A roll-out of the MPKs (mobile promotions kiosk) has continued and profits from this in the UK are increasing and growing.
Elsewhere, new contracts with Network Rail and Primesight will deliver rail and airport commercialisation space.
“We expect to be able to return the Group to a sustainable level of profitability in 2017, and trading for the first two months of the year has been ahead of management expectations,” said chairman Charles Hammond.
Clean energy group EQTEC plc (formerly REACT Energy plc) (LON:EQT) lost €748,000 in its latest half year but is upbeat over its recovery potential.
Gerry Madden, chief executive, said: "EQTEC plc enters the second half of the financial year with renewed optimism. In January shareholders voted to further strengthen ties between EBIOSS Energy AD and the Group by approving a debt for equity conversion which resulted in EBIOSS becoming the Company's majority shareholder.
Shares fell 18% to 4.71p.
Premier African Minerals Limited (LON:PREM), raised £2mln at 0.5p through an oversubscribed offer with private and institutional investors.
The money has been earmarked for Premier’s Zulu lithium project and a limestone deposit n Mozambique.
Shares fell 13% to 0.564p.
9.15am...Exova attracts offers from three parties
Lab test specialist Exova Group PLC (LON:EXO) has received bid proposals from three potential suitors: Element Materials Technology, Jacobs Holding and PAI Partners
The possible offers are in cash and dependent on completion of due diligence and the recommendation of the board.
Majority shareholder in Exova is US private equity firm Clayton Dubilier & Rice (CD&R).
Shares in the Edinburgh-based group rose 14% to 250p.
Hurricane Energy Plc’s (LON:HUR) Halifax exploration well in the North Sea has hit what it described as a 'very significant' oil column.
The company says the well results support its theory that Halifax alongside its Lancaster field are part of the same single hydrocarbon accumulation – initially being referred to as the Greater Lancaster Area (GLA).
Shares rose 7% to 58.04p.
Read: Hurricane Energy set for flurry of corporate activity as it closes in on early production
Falcon Acquisitions Limited (LON:FAL), now called Falcon Media, made a strong start to trading on AIM where it returned from suspension today following the reverse acquisition of video streaming company Orbital Media.
As a result, the company now owns Q-Flow technology that prevents the frequent loss of signal or 'buffering' , a current curse of the video streaming market.
A placing at 25p has raised £4mln and reflecting that hefty premium the shares were trading at 19.5p, up 36%, in early deals.
Proactive news headlines
European Wealth Group Limited (LON:EWG), the integrated wealth management group, has entered in to a £720,000 12-month loan facility that carries an interest rate of 10%. Big Pic is from July 2015.
ITM Power plc (LON:ITM), the energy storage and clean fuel company, has sold a 0.5 megawatt electrolyser and some associated hydrogen energy equipment for £730,000.
Genedrive PLC (LON:GDR) is nearing a landmark for its breakthrough rapid diagnostic for Hepatitis-C with the AIM-listed group ready to submit its breakthrough for regulatory approval.The receipt of CE IVD certification under the EU Medical Devices Directive would green-light the commercialisation of the product in the European Union.
Premier African Minerals Limited (LON:PREM) has raised £2 mln through an underwritten offer that was made exclusively available through PrimaryBid.com.
Having recently raised funds Obtala Limited (LON:OBT) said in its first quarter trading update it is now focused on delivering the infrastructure required to underpin the generation of strong positive cash flow.
Shares in Advanced Oncotherapy PLC (LON:AVO) opened higher on Monday after the proton therapy specialist secured another £3mln in financing, which it expects to draw down shortly.
DP Poland Plc’s (LON:DPP) rapid growth in the eastern European country accelerated again last year, with total sales rising more than 60% in 2016.