Edenville Energy Plc (LON:EDL) shares gained 43%, to 0.33p, as it highlighted that US$455 million of World Bank funding has been approved for the Zambia-Tanzania-Kenya (ZTK) power transmission line, which is due to be connected to a substation near its Rukwa project.
Vast Resources PLC (LON:VAST) advanced 17.65%, to 0.59p, after telling investors that it has obtained government agreement in relation to the Baita Plai Head Licence, in Romania.
Northern-Iraq oil firm Gulf Keystone Petroleum Limited (LON:GKP), up 11.4%, following news that it agreed a deal with the Kurdistan Regional Government (KRG) in relation to investment plans to increase the Shaikan field production up to 55,000 barrels of oil per day, in the next 12 to 18 months.
It relates, specifically, to US$91mln for the 2018 operations campaign, while a further US$175-215mln is expected to required for the 2019 programme.
Aberdeen Private Equity Fund Ltd (LON:APEF) was down 33% as it confirmed a redemption of shares.
9:30am: Tern and 88 Energy among Friday’s stand out early movers
Tern PLC (LON:TERN) was among Friday’s top early risers in opening deals, rising to 7.5p or 23% to 39.5p, after it revealed that preliminary marketing of Thales' healthcare Internet of Things (IoT) security blueprint, developed in conjunction with investee firm Device Authority (DA) has commenced.
The AIM-listed tech specialist investment company, which has a 56.8% holding in the IoT security firm, said this represents a significant milestone for DA following the formation of its strategic partnership with France’s Thales Group announced on 24 January 2018.
Moving in the opposite direction, 88 Energy Ltd’s (LON:88E) shares fell 6.45%, 1.54p, as it updated investors on the latest from the Icewine-2 well which has yet to deliver definitive results.
The shale appraisal well, in Alaska, continues to flow fracking fluid albeit the rate had slowed in the past week whilst the nitrogen injection (designed to expedite the recovery) was optimized. Operations continue.
Other Proactive news headlines:
Interim safety data from the phase II trial of Synairgen plc’s (LON:SNG) lead drug, SNG001, has shown it is being well tolerated.
Next Fifteen Communications Group Plc (LON:NFC), the digital communications group, has made a good start to the new financial year.
Kibo Mining PLC (LON:KIBO) has shuffled its Haneti nickel project in Tanzania between subsidiaries to create a clear distinction between its mining and power operations. Katoro Gold PLC (LON:KIBO), majority owned by Kibo, will acquire Haneti for £200,000 in shares. Kibo will also retain a net royalty of 2% over anything produced from the nickel property.
Connemara Mining Company PLC (LON:CON) has said it has made “significant progress” in the last year and is “well positioned to move further ahead” as it released its full-year results.
Chaarat Gold Holdings Ltd (LON:CGH) has announced that its exploration drilling has extended Tulkubash mineralisation at Tulkubash gold project in the Kyrgyz Republic.
Ireland focused explorer Lansdowne Oil & Gas PLC (LON:LOGP) chairman Lord Tim Torrington told investors that it is refreshing to see a return to drilling activity on the horizon at the Barryroe project. As the AIM-quoted group releases financial results, for the year ended December 31 2017, Barryroe is the main subject of conversation thanks to the farm-out deal struck during the current period, March 2018.
Rose Petroleum PLC (LON:ROSE) has revealed the details of a new competent persons report assessing its Paradox basin acreage, in Utah, United States. The new report, which is informed by recently acquired 3D seismic data, presents resources estimates for a 17,250 acre area (of a total 80,000 net acres in the Rose portfolio) and it solely features a single reservoir the Cane Creek reservoir, which is one of multiple prospective reservoirs in the play.
Victoria Oil & Gas plc (LON:VOG) chairman Kevin Foo told investors that he believes the Cameroon gas company will grow stronger and create a more diverse product base, despite the grid power supply issue it is currently facing. The company, which produces and supplies gas in the Duala region, is presently working through a period of lower volumes after a supply deal with a key customer lapsed without renewal.
The Marketing Group PLC (NASDAQ OMX:TMG) has said its Australian subsidiary, The Lead Generation Company Ltd, has entered voluntary liquidation. The marketing conglomerate said Lead Generation, a B2B telemarketer, was profitable up to 2017 until the loss of a major client caused it to slip into unprofitability and the best course of action was deemed to be liquidation.