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Investor Update: Cadogan reveals successful well test result at Blazh-10 well

Top stories from the Proactive Investors UK newsroom:

Alternative fuel developer Quadrise Fuels International PLC (LON:QFI)  has entered into an MoU with the Saudi group Al Khafrah, a privately-owned industrial group to progress and supply MSAR fuel projects in the kingdom. Al Khafrah will take up to a 20% stake of a joint venture to market MSAR in Saudi.

Ithaca Energy Inc (LON:IAE, CVE:IAE) is to acquire Chevron’s North Sea business for a debt-funded US$2bn.  The transaction covers ten producing fields and will boost Ithaca’s reserves by 150% and 2019 production by 300%.

Cadogan Petroleum PLC (LON:CAD) has seen more good flow rates from an extended well test on the Blazh-10 well. Production hit 275 barrels per day and Cadogan has decided to maintain this rate to take production in total from the Ukraine licence to 500 barrels per day.

Renewables investor Greencoat UK Wind PLC (LON:UKW) has raised £375mln through a share issue at 133p to fund further additions to its growing portfolio of windfarms. Following the raise, Greencoat will have £575mln of outstanding debt or the equivalent to 23% of Gross Asset Value.

FirstGroup (LON:FGP) has put its US bus business Greyhound up for sale and intends to spin-off its First Bus operation in the UK. The group, which is under pressure from activist investor Coast Capital, will retain its rail franchises.

Inmarsat Plc (LON:ISAT) has chosen Airbus’s satellite division as its manufacturing partner for its new Global Xpress network.  The partnership will provide a step-change in GX's capabilities, said the satellite operator.

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