Genel’s partner and operator, DNO ASA, said production at the Peshkabir field “has ramped up to 50,000 bopd, meeting the end-2018 target ahead of schedule and below budget.”
The AIM-quoted company posted a rise in revenue to £2.05mln in the 12 months ended June 30, and narrowed pre-tax loss. The results were “solid” but increased demand for Transense’s iTrack II tyre pressure monitoring system “could lead to the company needing to fill a hole in its finances,” said finnCap analyst David Buxton.
The data “identifies a very strong Induced Polarisation IP Chargeable anomaly” at the site in Queensland, said AIM-quoted Rockfire. "The discovery of this old data saves an enormous amount of money and time for the company and provides excellent geophysical data,” said Rockfire’s Chief Exeuctive David Price in a statement. "This historical IP data extends the target zone by at least a further 500m along strike towards the northwest."
Bacanora Lithium PLC (LON:BCN) shares picked up 5.8% to 32.52p after the company boosted the resource base at its 50%-owned Zinnwald lithium project in southeastern Germany.
The AIM-quoted company said the measured and indicated resource now stands at 124,974 tonnes of contained lithium, a 30% increase.
Mayan said the move is taking place whilst new management launches a review. “During this period of transition, we are going to review our assets in order to allocate our financial resources in a disciplined manner to the project portfolio that we believe will maximise the company's returns,” said Mayan’s new chairman Paolo Amoruso in a statement.
The US Office of Foreign Assets Control granted to Serica a conditional license for the asset, a move that will allow the AIM-quoted North Sea oiler to complete its transaction with BP PLC (LON:BP). The Rhum operations were hit by US sanctions on Iran. The project is located in UK waters, but relies on certain American-owned services providers, whilst at the same time the field is part-owned by a division of Iran’s state oil firm.
The FTSE 250 company said like-for-like sales at company-managed shops rose 3.2%. Greggs said its new focaccia-style pizzas were popular over the summer months, as was the company’s drinks range.
But losing shares included those of MySale Group PLC (LON:MYSL). They dropped 18% to 40p after the online retailer said Chief Financial Officer Andrew Dingle has resigned as the company reported a wider annual loss.
Dingle stepped down from the board with immediate effect and will leave the group at the end of October after a handover process. In the year to 30 June 2018, MySale’s reported loss before tax grew to A$1.7mln from A$1.6mln.
Proactive news headlines
Minds + Machines Group Limited (LON:MMX), the top-level domain registry company, has entered into a previously flagged strategic marketing partnership with imToken, the Ethereum cryptocurrency wallet provider.
Savannah Resources PLC (LON:SAV) has commenced payment of the second tranche of consideration for the company's portfolio of Portuguese projects, which includes the flagship Mina do Barroso lithium project.
Bacanora Lithium PLC (LON:BCN) has boosted the resource base at its 50%-owned Zinnwald lithium project in south-eastern Germany. The measured and indicated resource now stands at 124,974 tonnes of contained lithium, a 30% increase.
Metminco Limited (LON:MNC) said Lanstead Capital L.P.has reduced its voting power from 8.51% to 6.85% as a result of dilution due to the recent allotment and issue of 135 million ordinary shares by the company as part of a placement announced on October 4.
Wolf Minerals LTD (ASX:WLF)(LON:WLFE) is continuing discussions with what it calls its “key financial stakeholders” and expects to conclude those discussions this week.
Tekcapital PLC (LON:TEK) has appointed Dr Mireya McKee as business development manager. She brings more than 17 years of research, technology transfer and innovation management experience, including as a senior consultant in technology transfer for Oxford University Innovation.