The Oil and Gas Authority has approved the transfer of a 70% interest and operatorship in licences P1929 and P2304, which contain the Resolution and Endeavour gas discoveries.
“The focus will now be on progressing appraisal activity on the Resolution and Endeavour gas discoveries,” said Mark Abbott, the managing director of Egdon.
Production has increased year on year at Licence 61 due to a combination of optimising the waterflood programme at the Lineynoye field and placing the Sibkrayevskoye field into year-round production, Petroneft said.
“Looking forward, we are planning to continue improvements which in addition to optimising our water floods may involve techniques such as re-fracking and well re-entries. We believe that these low-cost initiatives can deliver real production benefits,” said David Sturt, the chief executive officer of PetroNeft.
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Next 15 Communications Group PLC (LON:NFC) has said trading is well ahead of management expectations set back in March leading it to raise its full-year expectations. In a trading statement, the group said revenues for the six months to the end of July, 2020, are expected to be up by around 6.5% year-on-year to £126mln, while adjusted profit before tax is expected to be more than 16% higher at a minimum of £20mln. Next 15 said the strong performance has been driven by the group’s business-to-business (B2B) technology-focused agencies, such as Activate and Agent3, while trading in the brand marketing and creative technology divisions has been more resilient than previously anticipated. Next Fifteen Communications also announced that it has appointed Berenberg as the company’s joint broker to work alongside its existing corporate broker and Nominated Adviser, Numis, with immediate effect.
Eurasia Mining PLC (LON:EUA) said it has been granted a licence for the Monchetundra Flanks project in Russia by the regional licensing body, SevZapNedra. The palladium, platinum, rhodium, iridium and gold producing company is the operator of the Monchetundra project, comprising two predominantly palladium open pit deposits close to the town of Monchegorsk on the Kola Peninsula. It also operates the established West Kytlim mine in the Urals. “The directors are encouraged with the approval of Monchetundra Flanks license, an important milestone for the company,” Eurasia’s chairman Christian Schaffalitzky said in a statement.
Catenae Innovation PLC (LON:CTEA) has secured the first commercial order for its Onsite ID app with Newcastle Premier Health (NPH) taking up the platform as part of its ‘access control’ programme which allows its business to continue during the coronavirus (COVID-19) pandemic. The Onsite ID app – which uses blockchain technology to create a digital wallet for health and work-related documents – is being used to store COVID-19 test results as a ‘passport’ allowing users to share their status in a secure, immutable and GDPR compliant manner when meeting clients in person.
C4X Discovery PLC (LON:C4XD) chief executive Clive Dix has said he is “delighted” by the progress to date of the drug developer as he hailed the start of clinical trials of a treatment for opioid dependence. It was one of a series of highlights included in the company’s latest business update from which investors also learned the group has begun a new partnership with the GEN-COVID Consortium in Italy. The collaboration will deploy C4X’s Taxonomy3 platform technology to examine genetic data from coronavirus (COVID-19) patients to identify genes specifically associated with severe types of the disease.
World High Life PLC (LON:LIFE) (OTCQB:WRHLF) said Georges St-Pierre, a brand ambassador for the firm and its subsidiary cannabidiol (CBD) brand Love Hemp, will be showcased in a special broadcast on the BT Sport network. St-Pierre is a Canadian professional mixed martial artists and a three-time Ultimate Fighting Championship (UFC) world champion who retired from the sport in 2019. The special, which will air on Thursday, will consist of a five -hour programme and an interview with St-Pierre wearing Love Hemp branded apparel.
Eden Research PLC (LON:EDEN) said it has received authorisation to sell its sustainable bio-fungicide in Australia for use on wine and table grapes. It will go on the market under the name of Novellus, providing a residue-free solution for the common disease Botrytis cinereal when one is most needed. That is because the world’s sixth-largest wine producer is phasing out conventional chemicals, meaning the Eden product will provide growers “with a much-needed sustainable solution to the disease”. The product, known in Europe and Africa as Mevalone, will be marketed and distributed in Australia by commercial partner, Sipcam.
Thor Mining PLC (LON:THR) (ASX:THR) has received assay results from gossan rock chip sampling at the 100%-owned Pilbara Goldfield tenements in Western Australia. The results indicate the gossan is strongly anomalous for nickel over the entire 900 metres strike length. Assays for gold in stream sediment samples, also collected in this program, are expected shortly. A total of 49 rock chip samples were all anomalous for nickel, with peak value of 2,678 parts per million (ppm).
NQ Minerals PLC (AQSE:NQMI) (OTCQB:NQMLF) is to restart exploration at its highly prospective Hellyer project in the Mt Read volcanic belt, a geological terrain in north-west Tasmania renowned for large scale and high-grade polymetallic deposits. NQ is currently producing lead and zinc concentrates (with significant gold and silver credits) by reclaiming the Hellyer mine tailings generated from the former mining operations and processing them through the Hellyer concentrator plant at the rate of over 1.2 million tonnes per annum. “There is now significant potential to define new and extensive high-grade mineralisation at Hellyer, one of the world’s great polymetallic high-grade mines,” said NQ’s chairman David Lenigas.
Iconic Labs PLC (LON:ICON), a multi-divisional new media and technology business, announced that it has received a notice from European High Growth Opportunities Securitization Fund in respect of the exercise of its conversion rights under the Convertible Bonds issued in respect of the fourth and fifth tranches drawn down under the Financing and Settlement Agreement for the aggregate principal amount of £170,000 resulting in the issue to the investor of 2,428,571,428 new ordinary shares.
Condor Gold PLC (LON:CNR) (TSX:COG) announced that on August 24, 2020, Galloway Limited, which is indirectly wholly owned by Jim Mellon, a non-executive director of Condor, purchased 75,000 ordinary shares in the company at a price of 50.25p per share for a total purchase consideration of £37,688 Accordingly, further to the purchase, Mellon owns, directly and indirectly, a shareholding of 18,626,963 ordinary shares or 15.9% of the company’s share capital. The direct interest is in 2,889,883 ordinary shares and the indirect interest is in 15,737,080 ordinary shares held through Galloway Limited. Galloway Limited is wholly owned by Burnbrae Group Limited, which is wholly owned by Jim Mellon.
Condor Gold also announced on Monday that following the receipt of notices for the exercise of warrants, it is issuing 120,891 new ordinary shares with a nominal value of 20p each in the capital of the company at a subscription price of 40p per share. The company has received gross proceeds of £48,356.40 from the exercise, it added.