SDX Energy Inc (LON:SDX, CVE:SDX) has revealed the success of production testing at the SD-3X appraisal well on the South Disouq field, in Egypt. The SD-3X well flowed at a maximum rate of 16.1mln cubic feet of gas per day over an eight hour clean-up, and, following a brief shut-in (with no pressure decline measured), further tests at varied choke sizes recorded rates of 5.3mln and 8.4mln cubic feet per day.
Canadian Overseas Petroleum Ltd (LON:COPL) has raised £3mln of new capital to support the group’s ongoing efforts to advance its assets in West Africa. It is issuing some 895mln new shares at 0.335p.
Victoria Oil & Gas plc (LON:VOG) has told investors that it remains confident that a solution can be found to end the suspension of gas sales to power generator ENEO, and, said it remains actively engaged in the process. In the meantime, VOG highlighted that shortfalls in power supply continue as hydroelectric schemes are currently not meeting demand.
Motif Bio Plc’s (LON:MTFB) chief medical officer David Huang is to present data from the company’s lead drug candidate iclaprim at an upcoming microbiology conference in Portugal. Iclaprim is a next-generation antibiotic which has initially been designed as a treatment for patients with acute bacterial skin and skin structure infections (ABSSSI).
Investment group Baker Steel Resources Trust Ltd (LON:BSRT), which earlier this year became fully invested, is waiting to cash out of Polymetal and put money into alternative opportunities. Lock-up agreements prevent Baker Steel from selling the majority Polymetal shares until October.
The chairman and chief executive of BlueRock Diamonds PLC (LON:BRD) have loaned the diamond miner £231,400. Chairman Paul Beck has lent the company £50,000, while CEO Adam Waugh has put up the remaining £181,400.
Arix Bioscience Plc (LON:ARIX) said it was notified that Christopher Chipperton today sold 3mln ordinary shares in the company at a price of 155p each. It added that as a result of the disposal, Chipperton is interested, in aggregate, in 7,147,914 ordinary shares, representing 5.3 per cent. of the company's issued share capital. The group said Chipperton has entered into a lock-in agreement under which he will not dispose of any ordinary shares for a period of 12 months, save in certain very limited circumstances and unless such disposal is effected through Stifel Nicolaus Europe Limited in order to ensure an orderly market in the shares.
One for the diary, Lancor Scientific is holding an event to showcase its rapid cancer diagnostic kit next week. For details click here.