Victoria Oil & Gas plc (LON:VOG) shares advanced more than 12% in Tuesday’s early deals as it announced ‘first gas’ from its new well at the Logbaba field. The Cameroon-focussed integrated gas firm, in a stock market statement, said that Logbaba Well LA-107 has now been classified as a production well following a successful testing programme.
Eco (Atlantic) Oil & Gas Ltd (LON:ECO, CVE:EOG) has inked a deal with French major Total which acquires the option to take a 25% stake in the group’s Orinduik Block, offshore Guyana. The AIM-quoted explorer is already partnered with Tullow Oil plc (LON:TLW) in the block, where a new 3D seismic programme was completed earlier this month.
Highlands Natural Resources Plc (LON:HNR) told investors it has kicked off a fracking programme, covering two wells - named Wildhorse and Powell - at the East Denver project in Colorado. The company highlighted that the start of the programme represents a further acceleration in its campaign at the East Denver project, ahead of the previously anticipated timeline.
Ferrum Crescent Limited (LON:FCR) has announced that its executive chairman, Justin Tooth has resigned with immediate effect, in order to pursue his other business interests, with the firm not intending to appoint a new full-time CEO in order to reduce costs. The AIM-listed lead-zinc exploration firm said, however, Grant Button, currently a non-executive director of the group and its company secretary, residing in Australia, will assume the role of non-executive chairman, also with immediate effect.
Westminster Group PLC (LON:WSG) has raised £750,000, before expenses, via an over-subscribed placing of 7.5mln new ordinary shares at 10p each, undertaken by broker Beaufort Securities Limited. The AIM listed supplier of managed services and technology based security solutions said the cash raised will be used to “support the development of the company, with a particular focus on preparation for the anticipated Middle East project opportunity in its Managed Services division”.
Tethyan Resources PLC (LON:TETH) said today it has completed substantial geophysical surveys at the Suva Ruda and Gokcanica Projects located in Serbia, with interpretation of the data expected to be completed and announced in October.
Marketing and media analytics consultancy Ebiquity plc (LON:EBQ) continues to achieve the milestones outlined in its five-year growth acceleration plan. Despite weaker performance in the US, results for the first half of 2017 were broadly in line with expectations.
Top level internet domains specialist Minds + Machines Group Limited (LON:MMX) is on course to deliver its maiden year of profitability as an operating business.
Christopher Wilks, chief financial officer at Signum Technology, has been appointed to the board of Kromek Group PLC (LON:KMK) as a non-executive director.
ImmuPharma PLC (LON:IMM) has started preparations for a new drug application of its lupus treatment Lupuzor with its phase III trial now over half way through. The AIM-listed group said the decision to start to manufacture commercial batches of Lupuzor was taken in anticipation of the trial's successful outcome and in consultation with its regulatory advisors.
Haydale Graphene Industries PLC (LON:HAYD) has made its first sales in China through its partnership with shareholder Everpower. The sales are for a range of silicon carbide fibres (SiC)and 3D printing material and combined will generate about £160,000 in revenues.
Niche lender S & U Plc (LON:SUS) has reported another strong half year for its car finance arm Advantage and expects demand to remain strong despite Bank of England fears a credit bubble might be forming. Anthony Coombs, chairman, said: "In contrast to the reported hiatus in both the used car market and in economic growth generally, S&U continues to experience robust and good quality demand and our current trading is in line with our expectations.
Amedeo Resources PLC (LON:AMED) is digging in and waiting for an upturn in metals and the oil rig markets. “Despite the current difficulties in both the marine vessels market and the and commodity markets, Amedeo is well resourced and remains focused on long term strategy of building a vertically integrated business in the resource and energy and related infrastructure sectors,” it said in its interim statement.
APQ Global Ltd (LON:APQ) has revealed a maiden first half net profit since listing in London in August 2016, although the emerging markets income trust saw its book value dip over the period. Reporting interim results for the period from January 1 to June 30, APQ said its net profit for the period was £524,208, while its book value at the period end was £76.4mln, a slight decline from the £77.4mln seen at the start.
The boss of Instem Plc (LON:INS), a leading provider of IT solutions to life sciences firms, has said the company is “undoubtedly better positioned for profitable growth than ever before”.
Fast-expanding digital communications group Next Fifteen Communications PLC (LON:NFC) has hailed the performance of its recent acquisitions as it notched up another half of double-digit revenue growth.
Technology-driven drug discoverer e-Therapeutics PLC (LON:ETX) saw its cash burn and losses fall in the first half of the year as it continues to implement the plan recently brought in by its new chief executive. A more “prudent” approach to cost control meant the operating loss for the six months ended 31 July narrowed significantly to £3.7mln (H1 2016: loss of £9.7mln), while first half cash burn also fell sharply to £1.6mln (H1 2016: £4.9mln).
Cancer-focused biotech ValiRx Plc (LON:VAL) has told investors it made “considerable progress” across both its clinical and pre-clinical drug portfolio in the first half of the year. Its lung cancer candidate, VAL401, finished the recruitment phase of its phase II trial back in June and the study remains on track to be completed by the end of this year.
Kibo Mining Limited (LON:KIBO) says the formal application for a power purchase agreement for the Mbeya thermal power station project in Tanzania has been submitted by state electricity group Tanesco to the Attorney General's office. The comment came as reported losses for the half year to June of £2.26mln (£2.237mln). None of Kibo’s projects are yet at the revenue generating stage.
Europa Oil & Gas (Holdings) PLC (LON:EOG) has told investors that it has extended a previously agreed deal with Upland Resources for the sale of a 10% stake in the Wressle oil project, onshore UK The project is being held up in a disputed planning process – presently it is awaiting appeal – and as such it has been agreed that the ‘long stop’ date for the transaction will now move to 28 February 2018 from the prior 30 September deadline.
Sula Iron & Gold PLC (LON:SULA) has hit more high gold grades in drilling in Sierra Leone. The company will now conduct analysis on the results. Separately, directors will forgo salaries for the foreseeable future.
Galantas Gold Corporation (LON:GAL) will find out the results of the judicial review into its underground mining operations at Omagh in Northern Ireland in a judgement to be given on 29th September. The company already has consent to mine and has been continuing with work.
Eurasia Mining plc (LON:EUA) has released interims showing the company's cash position to be £450,000 as at June 30. The feasibility study at the 1.9mln ounce PGM Montechundra project is nearly complete, with work at the West Kytlim alluvial project also making progress.
Nigeria oil producer Eland Oil & Gas PLC (LON:ELA) reported net production of 5,275 barrels per day in the first half of its financial year. Production resumed at the OML 40 asset back in January, using a single well, after the company adopted a shipping export route rather than problematic pipeline operations.
NQ Minerals PLC (LON:NQMI), the Australia-based exploration and mining company, has raised approximately £781,787 for working capital purposes through the issue of a further 9,174,132 ordinary shares.
Touchstone Exploration (LON:TXP CVE:TXP) is the ‘stand-out operator’ in Trinidad according to broker Shore Capital. Since it joined AIM in June, operational news from Trinidad has been excellent with Touchstone having successfully drilled and brought on stream four new wells.
PowerHouse Energy Group PLC (LON:PHE), the company focused on ultra-high-temperature waste-to-energy and waste-to-hydrogen systems is to host two Open Days, with technology demonstrations at the Thornton Science Park, Chester on Wednesday 18 and Thursday 19 October 2017, from 4:00pm to 6:30pm.
Grooveme, the holographic shows specialist, has been shortlisted for two categories at The Digital Entrepreneur Awards 2017. Now in its thirteenth year, The Digital Entrepreneur Awards is the UK’s only national awards ceremony dedicated to internet entrepreneurialism.