Proactive news snapshot: Echo Energy, Symphony Environmental Technologies, 88 Energy …

A glance at some of the day's highlights from the Proactive Investors newswire

Your daily round-up from the world of Proactive

Echo Energy Plc (LON:ECHO) told investors that the rig has been mobilised for the planned three well programme at the Fracción D asset, onshore Argentina. The Quintana-01 rig is travelling around 250 kilometres by road to Fracción D and the mobilisation is expected to take 3 days.

Symphony Environmental Technologies plc (LON:SYM), a global specialist in products and technologies that "make plastic smarter", has announced the appojntment of Bob Wigley as a non-executive director with immediate effect, having acted as an adviser to the company over the last few years. Wigley is an experienced City professional having enjoyed a successful career in banking, latterly as chairman of Merrill Lynch for Europe, the Middle East & Africa.

88 Energy Limited (LON:88E) (ASX:88E) has provided an update on its operations in Alaska, where it has both conventional and shale interests within the Project Icewine acreage. The company said that a 450 square kilometre 3D seismic exploration programme was completed on March 28, highlighting that the work was finished on schedule and within budget. It now expects processed data from the first areas will be available in June.

Strat Aero PLC (LON:AERO) said its wholly owned subsidiary, Geocurve Limited, has been chosen as a leading supplier for Aerial Survey and Inspection by insurance giant Aviva PLC (LON:AV.). The AIM-listed aerial reconnaissance specialist said while the development was a positive one for the company, it would update the market on any revenue implications for the company as they became clearer in due course.

Appscatter Group PLC (LON:APPS) is to strengthen its app monitoring service with the acquisition of German firm Priori Data for £13.5mln. Berlin-based Priori runs an app data intelligence operation and combined with appscatter’s existing service will enable the performance of millions of apps and billions of devices to be analysed, said Philip Marcella, chief executive.

Range Resources Ltd (LON:RRL) (ASX:RRS) has said it does not consider its interest at the Perlak field in Indonesia to be ‘a material oil and gas project’, citing the ‘significance of its oil and gas assets in Trinidad’. The AIM and ASX-listed oil and gas explorer said based on its initial 23% indirect interest in the Indonesia-based Perlak project, the net forecast production is estimated at 46 barrels of oil per day (bopd) and net 1P reserves of 64,183 barrels.

Bacanora Minerals Ltd (LON:BCN) reckons it's on track to begin production from its Sonora lithium mine in Mexico in the first quarter of 2020 and expects construction to begin in the first half this year Design of both the roaster/kiln FEED (front end engineering design) and the crystalliser/evaporation/IX FEED has begun, the firm said in a broad update.

Lansdowne Oil & Gas Plc (LON:LOGP) has raised £900,000 through a share placing, giving it sufficient capital to cover its costs for the Barryroe project until the group’s Chinese farm-out deal completes. Some 69.2mln new shares are being sold at a price of 1.3p each. The placing investors will also receive share warrants, which will exercise at 1.3p also.

Eland Oil & Gas PLC (LON:ELND) has updated investors on its reserves based lending (RBL) facility which, following the success of the Opuama-8 well, now puts the company in a stronger financial position. A re-profiling of the Opuama field’s RBL, which is provided by Standard Chartered Bank, leaves the company with the same headline scope of US$35mln but the company notes that the borrowing base for the loan increases significantly to just over US$70mln, from US$40mln.

Sunrise Resources Plc (LON:SRES) said it was pleased to see the company, which bought its Junction copper-silver-gold project in Nevada, USA expand its footprint there. Sunrise holds an interest in VR Resources Ltd and says the latter's claim staking on the ground has increased nearly sevenfold since the project was sold.

Pembridge Resources PLC (LON:PERE) has announced the appointment of Paul Fenby as its chief financial officer with immediate effect. The mining-focused acquisition company noted that Fenby has over 25 years’ experience in natural resources, most recently as CFO at Asia Resource Minerals PLC, a UK-listed, Indonesia-focused coal mining company, with responsibility for both the London and Jakarta listed entities.


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


Anglo Pacific Group makes a transformational move by acquiring stream on the...

Anglo Pacific Group (TSE: APY- LSE: APF) CEO Julian Treger joined Steve Darling from Proactive with news the company has just announced the biggest deal the company has ever done, acquiring a stream on Vale’s Voisey’s Bay Nickel and Cobalt project in Newfoundland and Labrador for 205...

4 hours, 24 minutes ago

4 min read