Oilex Ltd (ASX:AIM: OEX) continued to gather momentum, up 12% over the past week as investors wait on news from India.
The Gujarat Pollution Control Board (GPCB) is expected to approve the re-commencement of production on the Cambay field imminently. All necessary operational preparation, including system integrity checks and safety system validations, has been undertaken to allow for an immediate re-start of gas production from two wells (C-73 and C-77H) upon receipt of GPCB approval.
Angus Energy PLC (AIM: ANGS) pushed towards a new 52-wk high, with a gain of over 28% this week. With the Environment Agency has issued its Variation Notice for the existing Saltfleetby gas field permit. The site permit now encompasses the new activities of processing and compressing of gas for direct export to National Grid. No further regulatory or planning permissions are required before First Gas.
Additionally, Angus has received an updated permit for the Brockham oil field allowing, inter alia, for the re-injection of produced water at its Brockham oil site.
After publishing a white paper about how to win back audiences, sector peer Mirriad Advertising PLC, (AIM: MIRI) saw its value rise by around a third. The paper reported a shift in the key age group of 18-49. Their participation in linear TV viewing – which includes viewing with ads breaks – has fallen 49% over the past five years, and is predicted to drop 22% in two years.
Chariot Ltd, (AIM: CHAR) climbed 37% to 17.425p following an upgrade in its view of its discovery off Morocco’s coast. Analysis of the Anchois-2 well showed a 50% increase in net pay to 150m (m) compared to 100m in its initial analysis and 55m for Anchois-1.
Keras Resources PLC, (AIM: KRS), saw a 150% increase in this week’s trading as it took complete control of the Diamond Creek organic phosphate lease and mine. This allowed production to resume. For US$3.2mln, the company bought the 49% minority stake in Falcon Isle from the Helda Living Trust. It owns the mine in Utah and the Spanish Fork processing plant in Utah. Keras stated that Falcon Isle can now resume operations in order to meet the demand for the key spring season.
Russell Lamming, CEO of Keras, commented, “We are delighted to have acquired 100% of Falcon Isle, securing the high-grade Diamond Creek phosphate mine and strategically located Spanish Fork processing plant in a very buoyant organic fertiliser market.
Cambridge Cognition Holdings PLC (AIM: COG), which creates and markets digital solutions for brain health assessment, had a great week. It saw a two-fifths increase in traffic after a contract win.
This contract is worth approximately £1mln and was signed with an unnamed pharmaceutical company. It will provide digital cognitive assessments in support of a pivotal phase III trial for autoimmune diseases. Which company saw its shares rise 34% to 14.725p last week?
Avacta Group PLC, (AIM: AVCT) jumped 41% following its announcement that it would present preclinical data on AVA6000 prospects at the American Association for Cancer Research Annual Conference.
CISION platform to improve the safety and therapeutic index of doxorubicin – a chemotherapy medication used to treat cancer.
Score a point if you answered Quiz PCL (AIM: QUIZ). If you know it was because the fashion company reported that it had continued to experience strong trading momentum and it raised full-year revenue guidance.
The day after the UK’s new energy tariffs were implemented, SIMEC Atlantis Energy Limited, a tidal power firm, announced that it had received a non-convertible loan from a Scottish Enterprise of £2.5m. This will allow the redeployment at MeyGen of the remaining turbines within the next twelve months.
Beowulf Mining PLC, (AIM: BEM) saw its value drop by two-fifths after it stated that it had spent a million dollars in Vardar Minerals in order to fund the drilling of Wolf-Mountain in Kosovo.
Beowulf’s Vardar ownership has increased from 51.4% up to about 59.5% with the investment.
It was a very disappointing week for 88 Energy (ASX:AIM: 88E) After a disappointing outcome at the Merlin-2 well, Alaska, 88 Energy lost more than half its value. The Merlin-2 well was not tapped by the company. Provisional wireline logging analysis has shown that the quality of the reservoir at this location is not sufficient to warrant a production test.
Forward operations for the Merlin-2 well will now focus on plugging and abandoning the well and commencing demobilisation from the drilling location.
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