WYG PLC (LON:WYG) continues to experience delays in the signing of new contracts, as a result of which it has lowered guidance for the year. The programme, project management and technical consultancy said operating profit for the full year will be within the range of £3.5mln to £4.0mln, substantially below current market expectations.
SDX Energy Inc (LON:SDX) told investors it has spudded its latest well at the Sebou project in Morocco. The KSR-16 well is expected to be drilled in 20-25 days, and it is earmarked as a production well.
Cabot Energy PLC (LON:CAB) has told investors that it’s 75% owned Canadian fields are now producing between 750 and 850 barrels of oil per day. The latest production comes from the addition of the 16-05 side-track well, drilled last month, which is delivering around 200 bopd, and the new 13-33 dual completion well is scheduled to come online shortly to add another 50 bopd.
Mosman Oil & Gas Ltd (LON:MSMN) told investors it has “cautious optimism” looking ahead, as it reported financial results for the twelve months ended June 30 2017. The company, which is moving on a number of new projects in North America, reported a US$9.18mln loss including a US$7.42mln non-cash write off, though it said that it has been successful in reducing its operating and corporate costs.
Falcon Oil & Gas Ltd (LON:FOG) has told investors it ended the three months to September 30 with a strong financial position – it is debt free and had US$9.4mln of cash. As the AIM-quoted shale group continues to await the outcome of a government commissioned review into fracking in Australia’s Northern Territory the company continues to adopt strict cost management.
Asiamet Resources Limited (LON:ARS) has appointed mining veteran James Deo as its new chief financial officer. Deo, who will join the Indonesia-focused copper explorer in January, was most recently a consultant to Newcrest Mining – the largest gold miner in Australia.
Katoro Gold PLC (LON:KAT) is to carry out a pulsed light survey at Imweru in Tanzania to create high-resolution, detailed topographical maps of the gold prospect. Louis Coetzee, executive chairman, said the LiDAR survey would add integrity and confidence to the ongoing pre-feasibility study (PFS).
After raising £1mln (US$1.32mln) from investors earlier in the week, Vast Resources PLC (LON:VAST) has outlined the details of the follow-up open offer. Vast is looking to raise up to another £1.23mln (US$1.64mln) through the open offer by issuing 238.1mln shares at 0.525p apiece – the same price as the placing.
IronRidge Resources Limited (LON:IRR) has identified more bauxite and gold at two projects in Queensland, Australia. Surface sampling at Koko discovered additional bauxite mineralisation adjacent to the Monogorilby prospect. Bauxite is the source ore for aluminium.
Base Resources Limited (LON:BSE) (ASX: BSE) said Bank of America Corporation has notified the company that it and its related corporate bodies have a relevant interest in 38,868,951 Base Resources ordinary shares representing 5.20% of the total issued share capital. In October, reports had said two BofA Merrill Lynch funds in Australia had bought a total of just over 40mln Base Resources shares, amounting to around 5.37% of the company.