(MENAFN- ProactiveInvestors - UK) Sound Energy(LON:SOU) has taken an option over 55% of the permit neighbouring its licence at Tendrara in Morocco where it is preparing to drill its first well. The new permit Meridja covers a 9000 sq km area adjacent to the Tendrara licence and has the same fundamental geology.
UK Oil & Gas (LON:UKOG) has confirmed flow testing is underway at the Horse Hill-1 well near Gatwick in Surrey. The explorer created a furore in April last year when it said the well drilled into the Weald Basin under Dorset Surrey and Sussex had discovered more than a hundred billion barrels of oil. Solo (LON:SOLO) owns a 6.5% interest in HH-1 located on the northern side of the Weald Basin near Gatwick Airport.
Over at resources investor Metal Tiger (LON:MTR) Paul Johnson took the reins as new chief executive. Existing CEOCameronParry is stepping aside to become a non-executive member.
Field engineer software specialist ServicePower (LON:SVR) reported annual revenue rose by 2.4% to 13mln. Product related sales rose 12%. Gross profit was unchanged at 6mln though losses edged up slightly to 1.1mln.
Tajikistan-focused China Non-ferrous Gold (LON:CNG) said non-executive director Abuali Ismatov has today resigned from the board for personal reasons. Last month the firm revealed first gold had been produced at the Pakrut project.
The technology behind AEG CoalSwitch the renewable energy division ofActive Energy Group(LON:AEG) has hailed as an 'outstanding success' following four-day launch event.It was showcased to international audience from utilities government bodies and manufacturing as well as potential investment partners.
Kibo Mining(LON:KIBO) has completed the first phase of Integrated Bankable Feasibility Study (IBFS) for the Mbeya coal to power project in Tanzania. Before Mbeya can advance to financial close it must first deliver an appropriately competent IBFS that meets internationally accepted technical and financial standards Kibo said.
Vast Resources(LON:VAST) says operational break-even was achieved at its mines in Romania and Zimbabwe in its first reported quarter since commissioning. The Manaila polymetallic mine in Romania was fired up on August 14 last year while the Pickstone-Peerless gold mine in Zimbabwe kicked off on August 20.
Pan African Resources(LON:PAF) saw earnings bound ahead in its latest half year as production recovered and the weak rand helped costs.The South African gold miner said that in rand terms earnings rose by between 119% and 139% in the half year to December to between 11.87c and12.95c.
Onshore UK oil and gas explorerEgdon Resources(LON:EDR) recorded elevated gas readings indicative of the presence of hydrocarbons at its Keddington-5 well in the East Midlands. Hydrocarbons were recorded at from a gross interval of 141 metres containing 62 metres of net sand Egdon said. Union Jack Oil(LON:UJO) has a 10% stake in Keddington.
Armadale Capital (LON:ACP) has completed its key feasibility study for the first phase of its Mpokoto gold project in the Democratic Republic of Congo providing a platform to finalise funding the project.
Accesso (LON:ACSO) a ticketing and service provider for attractions has told investors that its financial results for 2015 will be comfortably in line with expectations. For the twelve months to December 31 the company said it had a strong performance whilst it invested significantly following an earlier transformative agreement with theme Park operator Merlin
Graphite firm Stratmin Global (LON:STGR) says it has so far drawn down around 24000 of a loan facility to provide short term working capital. Consolidated Resources has provided the unsecured facility of up to A$200000 (around 98000) to Graphmada Mauritius - the group's 93.5% subsidiary.
Miner Richland Resources (LON:RLD) has exceeded production targets and notched up first revenues from its new sapphire operation in Queensland Australia. It produced 720000 carats in the three months to December as it continued to ramp up to full production.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.