ALO.L Share News (ALO)

Former cleantech company Alecto Energy has an exclusivity period to assess Bulgarian uranium exploration licences. AIM-quoted Alecto will provide Bulgarian Mining Corporation with a £45,000 working capital loan as part of the agreement. BMC is also receiving 30m shares at a nominal price of 0.3p each in return for the exclusivity period. Alecto will assess whether it wants to make a direct investment in BMC. Alecto also plans to raise £170,000 at 0.32p a share. Gold miner Stratex International is raising £1.3m at 3.5p a share in order to finance development of its deposits in Turkey and Ethiopia. The focus of the spending will be Northern Ethiopia. Oil and gas producer and explorer Leed Petroleum says that net attributable production average 1,152 barrels of oil equivalent per day during the fourth quarter of 2009. That represents a dip in production due to the installation of new equipment, which will boost production in the second quarter of this year. Exploration will be focused on drilling at Ship Shoal 201. A drilling contract has been signed and drilling should commence in the near future.