Proactive Spotlight:
Investors in Hurricane Energy PLC (LON:HUR) can expect a flurry of corporate activity in the coming months following its significant successes with the drill-bit.
Hurricane today unveiled the findings of the Halifax exploration well which make the prospect of a ‘multi-billion barrel’ oil haul much more likely.
The company revealed a success with the Halifax exploration well that sets up Hurricane with what appears to be the largest undeveloped oil project in the UK continental shelf.
Significantly, the well confirmed a massive oil column, measuring at least 1,156 metres, and it supports Hurricane’s theory that the Lancaster field and the Halifax discovery are in fact part of the same single hydrocarbon accumulation.
This is a very big statement given that the Halifax well is located some 30 kilometres from the Lancaster field.
WATCH: Hurricane’s Halifax well “as good as it gets” …
Other Proactive News headlines:
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.
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.
Premier African Minerals Limited (LON:PREM) has raised £2mln through an underwritten offer that was made exclusively available through PrimaryBid.com.
WATCH: Premier African boss “very pleased” with investor response …
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 Falcon Media House Ltd (LON:FAL) – the renamed Falcon Acquisitions – resumed trading this morning, the stock having been suspended since July of last year after it announced the proposed acquisition of Orbital Media. Falcon Media shares were changing hands at 18.5p each, with the company also having confirmed it has raised £4mln through a placing of shares at 25p each.
Savannah Resources Plc (LON:SAV) has raised its resource estimate for the Mutamba minerals sands project in Mozambique after evaluating drilling results from the Ravene deposit. The inferred mineral resource estimate at Ravene stands at 900 million tonnes (mt) at 4.1% total heavy minerals (THM).
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.
Gfinity Plc (LON:GFIN) said award-winning football video game, 'Rocket League', will feature in its Elite Series eSports tournament. The UK-based company said 'Rocket League' will be played in teams of three against three at the competition for video game enthusiasts, which will be launched later this year.
Amryt Pharmaceuticals PLC (LON:AMYT) has recruited David Allmond as its chief commercial officer. He has been hired from Aegerion Pharmaceuticals where he was involved with a drug the AIM-listed company now has the European rights for.
Summit Therapeutics PLC (NASDAQ:SMMT, LON:SUMM) is to proceed with the planned extension phase of PhaseOut DMD, subject to regulatory approval. PhaseOut DMD is a Phase 2 clinical trial evaluating the utrophin modulator ezutromid as a treatment for Duchenne muscular dystrophy (DMD).
Jersey Oil & Gas PLC (LON:JOG) has highlighted an upgrade of the potential prize at the Verbier exploration project in the North Sea. Verbier, to be drilled by Statoil in the coming months, is now estimated to host some 162mln barrels of oil equivalent resources, up from a prior estimate of 118mln barrels.
WATCH: Jersey Oil & gas Verbier project "a no-brainer" ...
Auroch Minerals, in which mining investment specialist Cadence Minerals PLC (LON:KDNC) holds a 7.7% stake, has announced that it is to enter into a joint venture near the giant Neves-Corvo copper mine in Portugal.
North Sea junior Independent Oil and Gas PLC (LON:IOG) told investors that UK regulator The Oil and Gas Authority has extended the licence for the Harvey appraisal project until December 20.
Inspired Energy plc (LON:INSE) has lifted its full year dividend 29% after achieving its sixth consecutive year of record revenue and profit. The group, which procures gas and electricity for companies, reported a 38% increase in adjusted pre-tax profit to £7.02mln for the year ended 31 December, compared to £5.07mln the previous year.
Beleaguered oil explorer Bowleven PLC (LON:BLVN) said it is considering all options – including those put forward by an activist shareholder - as part of its strategic review. The update came in the form of a response to a series of assertions and requests made by Crown Ocean Capital P1 Ltd on Friday.
The respiratory drug discovery and development company Synairgen plc (LSE:SNG) revealed that Leonard Licht, a private investor, now holds 3.7mln ordinary shares, or a 4.05% stake in the company through Boal & Co, as Trustees of the Trinity Pension Scheme.
Medical products firm Collagen Solutions PLC (AIM:COS) revealed that it had allotted 8mln new ordinary shares to certain vendors of Collbio Limited in order to satisfy the second tranche of the deferred consideration share provisions in relation to the acquisition, as announced in December 2013.
As a result, Collagen’s chairman, David Evans, a vendor of Collbio, was issued 2,685,437 new ordinary shares at a strike price of 12.5p each, increasing his holding to 11.9%, and Dr Stewart White, the firm’s chief scientific officer, also a vendor of Collbio, was issued 1,553,592 ordinary shares also at a strike price of 12.5p, taking his holding to 2%.