(MENAFN- ProactiveInvestors - UK) Magnolia Petroleum (LON:MAGP) announced that two wells drilled byChesapeake Energyin Oklahoma's Mississippi Lime play have now begun producing.
The first well had an initial production rate of 1056 barrels of oil equivalent per day while the second yielded 952 boepd.
Mobile phone services supplierZamanoPlc (LON:ZMNO) reported higher annual profits and revenue and said it was on the lookout for acquisitions.
Pre-tax profit in the year to 31 December rose 12.9% to 2.4mln on a 22.3% increase in revenue to 24.3mln.
Sound EnergyPLC (LON:SOU) has confirmed its acquisition of a 50% stake in the Sidi Moktar gas project taking its ownership to 75% and has concurrently announced a deal to bring in a new partner.
The company will see a $6mln cash injection and will benefit from $18mln of new investment said chief executive James Parsons.
Deltex Medical Group PLC (LON:DEMG) has raised 516000 through a placing at 4p per share.
Over at Sula Iron & GoldPLC (LON:SULA) the mining group raised 210000 through a placing to fund the next phase of exploration at gold prospect Ferensola in Sierra Leone.
SEMS Exploration will undertake a Gamma-Ray Spectrometry and Resistivity and Induced Polarisation survey over the regional fold structure identified.
One of EG Solutions PLC's (LON:EGS) shareholders and key partners in the US Aspect Software has filed for bankruptcy protection.
EG's initial assessment is that the petition will have no impact on its earnings outlook but added it will assess the impact on its relationship as the Chapter 11 process develops.
And finally Faron Pharmaceuticals(LON:FARN) said 2015 was a 'transformational year' for the business as it posted its financial and operational review of the period. The company is gearing up for phase III clinical trials of its lead drug Traumakine.
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