(MENAFN- ProactiveInvestors - N.America)
A surge in Petroceltic's (LON:PCI) share price indicates some optimism over its current debt conundrum.
Worldview Capital Petroceltic's largest shareholder with 29.6% this morning announced it was preparing a possible all cash offer for the oil and gas firm.
The AIM company kicked off a strategic review in December and said it would consider asset sales or the sale of the entire company.
As the owner of a significant stake in a world class gas development in Algeria due online in 2019 is asset rich but cash reserves are now running low and it has some US$218mln of debt.
To complicate matters Petroceltic and Worldview have endured fractious relationship including past attempts by the shareholder to sack the board.
Little has run smoothly between this pair and Petroceltic has yet to give a response to Worldview's statement. The form guide would suggest there's likely to a twist-or-turn or two as this story develops.
Earlier this week investors in Empyrean Energy (LON:EME) were celebrating as the AIM oiler agreed to sell its 3% stake in Marathon Oil's operations at the Sugarloaf project for an upfront US$61.5mln. And the junior oil share raced some 45% higher.
It means Empyrean will be cashed up with about US$30mln left after debts and liabilities are cleared and management intend to look for opportunities in the currently destressed marketplace.
In the technology sector shares in app store firm Mobile Streams (LON:MOS) rallied strongly after telling investors it is pushing ahead with its move away from Argentina.
India has been the main target for the group's expansion amid an ongoing slide in the value of the Argentinean peso. And a new ad-funding approach to its gaming service opens up another potential/ area of growth.
SeaEnergy (LON:SEA) continued to push higher on Friday morning adding to Thursday afternoon's big gains.
It comes after it unveiled a new strategic partnership for its environment modelling software R2S.
By teaming up with Australian group Universal Spatial Solutions the AIM company is working towards the Asia Pacific launch of the R2S Forensic product to create 3D crime scene models.
Gold junior Condor (LON:CNR) got a major boost from a new mine design study for the La India project in Nicaragua which at US$196mln is now estimated to be worth 50% more than before.
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