News for the Snoozers - Part 6

Wednesday, 11th February 2015 10:25 - by Moosh

There’s not much to digest in this latest round-up of news so it’s a speedy one today....

Beximco Pharma (TIDM: BXP)

Good news from BXP with the successful completion of the US FDA Audit for their oral solid dosage manufacturing facilities, which may help in the future for BXP to begin penetration into the US generics market.¹

Caza Oil and Gas (TIDM: CAZA)

A recent operational update advised investors of initial 30 day averages for the latest wells to be brought online by CAZA in December 2015 at their Marathon Road and East Marathon Road sites, as well as telling the market that they were drilling ahead at the Marathon Road 15 NC #1H well which began drilling on 10 January 2015, therefore a result from this well is likely to be due soon.²

Empyrean Energy (TIDM: EME)

Somewhat unsurprisingly, EME informed the market of the termination of the formal sale process for the company and/or its assets so it’s business as usual again for EME and with the price at square one again, the broker target of 16p with the current price being 5.375p (mid-price as of market close 6 February 2015).^3-4

Petroneft Resources (TIDM: PTR)

PTR provided an update on the Tungolskoye well, which produced over 600 barrels of oil per day (bopd) and is now in production, bringing the total daily production to ~2450 bopd. Further development of the Tungolskoye field is likely to be ramped up from April 2015 and continue into 2016 with another 11 wells, assuming the necessary contracts can be completed. There has also been good progress at the Arbuzovskoye field with the 103 well producing at ~125 bopd, the 104 well due to be completed shortly, and with the 107 well drilling ahead with results due in a few weeks .⁵

Software Radio Technology (TIDM: SRT)

After much waiting and anticipation on bulletin boards, SRT announced this week that the US Coast Guard has issued new requirements for the fitting of AIS transceivers in vessels operating in US territorial waters, which is to officially begin from 2 March 2015 and must be implemented by 2 March 2016. This should give SRT a 12 month window of opportunity from any US based clients which will be useful in the short term to provide a steady base of business prior to any further expansion from 2016 onwards into new territories.⁶

References

1. http://www.lse.co.uk/share-regulatory-news.asp?shareprice=BXP&ArticleCode=0fjudiyx&ArticleHeadline=Beximco_Pharma_completes_US_FDA_Audit
2. http://www.lse.co.uk/share-regulatory-news.asp?shareprice=CAZA&ArticleCode=wgerr2be&ArticleHeadline=Operational_Update
3. http://www.lse.co.uk/share-regulatory-news.asp?shareprice=EME&ArticleCode=50l9q2st&ArticleHeadline=Update_on_Strategic_Review_Termination_of_FSP
4. http://www.proactiveinvestors.co.uk/companies/news/76934/update-empyrean-energy-no-longer-for-sale-and-will-continue-in-the-sugar-loaf-venture-76934.html
5. http://www.lse.co.uk/share-regulatory-news.asp?shareprice=PTR&ArticleCode=331bxadb&ArticleHeadline=Operations_Update
6. http://www.lse.co.uk/share-regulatory-news.asp?shareprice=SRT&ArticleCode=9zzi3rde&ArticleHeadline=US_Mandates_Installation_of_AIS_Tranceivers

The Writer's views are their own, not a representation of London South East's. No advice is inferred or given. If you require financial advice, please seek an Independent Financial Adviser.