It will be interesting to see whether the stock market finally catches up with what Canadian Overseas Petroleum (COPL), an international oil and gas exploration company, has achieved over the past year and more. It announced that the acquisition of the United States assets of Cuda Energy LLC will close today. The company said it was “delighted” it has finally completed this acquisition. The market continues to misunderstand the full potential of its Wyoming assets. It now has full ownership which it has secured when the assets are at an early stage in development with “everything to play for.”
Yesterday, San Leon (SLE), the independent oil and gas company focused on Nigeria, noted the announcement made by Decklar Resources Inc. in Canada. San Leon has an 11% shareholding in Decklar Petroleum Limited, the local subsidiary of Decklar operating in Nigeria, and has also made a $5.5 million loan to DPL, via 10% per annum unsecured subordinated loan notes. Decklar said Decklar and its co-venturer Millenium Oil & Gas Company Limited have received the permits required to resume production from the Oza-1 well at the Oza Oil Field. Production from the well has begun at low volumes initially to re-establish oil flow, with volumes to be increased steadily in order to establish a long-term sustainable rate.
Block Energy (BLOE), the exploration and production company focused on Georgia, is pleased to announced the commencement of Project II of its three-project strategy, the re-development of the Patardzeuli Middle Eocene reservoir, with the drilling of well JSR-01DEEP by September. The well will be self-funded using the cash generated from operations. The company said commencing Project II with the drilling of well JSR-01DEEP, located within what has been the most prolific licence area in Georgia, represents the beginning of an “exciting” period for Block.
Premier African Minerals (PREM), reported on assay results at Premier’s Zulu Lithium and Tantalum Project and the Offtake and Prepayment Agreement. The company said results continue to please on the upside. At the same time good progress continues with early mine build. Site earthworks and camp construction is progressing well. Detailed civils design is expected to complete by end July 2022.
Advance Energy (ADV) keeps on living up to its name. The company announced that it has raised £345,000, and a further £80,000 from certain directors. The Placing has been arranged by Optiva Securities Limited. Advance is looking to make an acquisition that would be considered a reverse takeover.
Oxford Biomedica (OXB), a gene and cell therapy group, announced that it has signed a new Licence and Supply Agreement with an undisclosed US-based private biotechnology company advancing a new generation of adoptive cell therapies. The LSA grants the new partner a non-exclusive licence to utilise Oxford Biomedica’s LentiVector® platform for its application in their lead CAR-T programme, and puts in place a three-year Clinical Supply Agreement. It has also initiated a new project with Orchard Therapeutics utilising the Company’s proprietary LentiStable™ technology.
Rockhopper Exploration (RKH), the oil and gas exploration and production company, announced that all regulatory consents required for the transaction between the company, Harbour Energy plc and Navitas Petroleum LP, have been received from both the Falkland Islands Government and the UK Secretary of State. As part of the Transaction, FIG has agreed to grant a two-year licence extension to all the licences held by Rockhopper in the North Falkland Basin. Accordingly, the licences will now run until 1 November 2024.
Dotdigital Group (DOTD), the ‘SaaS’ provider of a marketing automation and customer engagement platform, provided a trading update for the year ended 30 June 2022 (FY22), ahead of the publication of its full year results in November. The company said it was reporting a strong commercial performance and growth across all key global regions in the year to 30 June 2022 having addressed the challenges of the first half. A particular highlight of the last six months has been the progress made in building out its team in North America.
MyHealthChecked (MHC), the consumer home-testing healthcare company, announced that its suite of cheek- swab DNA at-home wellness tests will be available from today to purchase through the UK site of online retailer, Amazon.com. The tests were initially launched by MyHealthChecked and available for purchase on the company’s website on 14 June 2022.
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