(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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Ideagen PLC - information management, safety, risk and compliance software provider - Pretax profit in six months to October 31 soars to GBP5.2 million from GBP1.2 million a year prior. Revenue up to GBP38.8 million from GBP29.2 million. Increases interim dividend by 15% to 0.138 pence per share. Targets 15% organic revenue growth in medium term. "Strong start to H2 in line with our expectations with confidence in delivering on our targets for the full year," company says.
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Enwell Energy PLC - oil and gas explorer in Ukraine - In fourth quarter of 2021, production fell to 3,964 barrels of oil equivalent per day from 4,444 a year before. Says was predominantly as a result of the shut-in of the SV-2 and MEX-109 wells during the quarter, after these wells suffered water ingress, as announced late November. In 2021, annual production increases 4.2% to 4,730 boepd from 4,541. "Although we have continued to generate strong revenues and benefit from the high prevailing gas prices, the water ingress issues with the SV-2 and MEX-109 wells have been frustrating, as have the supply constraints experienced in Ukraine. However, we are now making progress with the remedial work being undertaken on these wells, as well as with the testing of the SV-29 well, and look forward to making further progress in the near future," Chief Executive Sergii Glazunov says.
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Caerus Mineral Resources PLC - London-based exploration & resource development company - Notes high-grade gold intercept achieved for drillhole testing the Troulli - Kokkinapetra extension, which is in Cyprus, returning a substantial package width grade of 1.4 grams per tonne of gold over 52.6 metres from surface including 4.97 grams per tonne over 11.55 metres. "The intention in 2022 is to quickly build our Cyprus resource base with JORC Resources declared at multiple sites with an initial focus on Troulli, its extensions and satellites which offer potential high-grade exploitable ore in the near term. We believe that once the Troulli project joint venture is formalised and mine development commences, there is a significant opportunity to extend mineralisation and in turn, add further shareholder value through the nearby high-grade satellites and other projects within the presumed sphere of influence of the Troulli Hub," Chief Executive Martyn Churchouse says. Jubilee Metals Group PLC is a JV partner for Troulli project.
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Seed Innovations Ltd - Guernsey-based wellness and life sciences firm - Says investee and medical cannabis company Eurox Group enters into an exclusive agreement with Orchid Ventures Inc, a multi-state cannabis innovation company, on a submission to German authorities for approval of a premium medical vaporizer device. Seed has an 8.85% shareholding in Eurox. Once the device is approved, Eurox will have exclusivity regarding sales and distribution of the PurTec product in the EY, UK and Brazil.
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Predator Oil & Gas Holdings PLC - oil and gas operator in Trinidad, Morocco and Ireland - Says competent persons report confirms continuity of the MOU-1 and MOU-4 structures. This has established material Contingent Gas Resources net to the Company of 295 billion cubic feet and unrisked the expected net present value of USD592 million. "The realisation of contingent gas resources gives the company an additional option for shareholder monetisation. In order to create greater financial substance a reversal into an entity wanting exposure to the Guercif opportunity should not be discounted as a future option," CEO Paul Griffiths says.
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Pharos Energy PLC - oil and gas exploration, development and production in Egypt, Vietnam and Israel - Reports 2021 production of 8,878 boepd, in line with production guidance. Revenue was USD163 million before net hedging loss of around USD30 million. Revenue in 2020 fell to USD142.0 million from USD189.7 million in 2019. 2022 production guidance has Vietnam at between 5,000 and 6,000 boepd, while Egypt will be confirmed later.
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HydrogenOne Capital Growth PLC - hydrogen investment fund managed by HydrogenOne Capital LLP - Deploys 46% of available capital in the first five months following launch. Expects to fully deploy the proceeds from its 2021 IPO by the second quarter 2022. Says hydrogen sector continues to build strong momentum. Company is maturing a pipeline exceeding GBP500 million for further potential private investment.
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TomCo Energy PLC - oil explorer in Utah - Says independent reports finds oil reserves of 22.8 million barrels of oil at the mining properties comprising the Tar Sands Holdings II LLC site located in the Uinta Basin, Utah. "We are delighted with the findings of NSAI's Report. The report serves to confirm our view that the TSHII site contains substantial economic resources, both in terms of oil and marketable sand, that we are focussed on seeking to exploit," company says.
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Digital 9 Infrastructure PLC - London-based digital infrastructure investor - Announces placing to raise GBP200 million at a price of 108 pence per share, a 1.5% discount to Wednesdays closing price of 109.6p each. Proceeds to be used to acquire further assets. Company has identified an immediate term pipeline of approximately GBP325 million.
Additionally announces that subsidiary Digital 9 Wireless Ltd has signed a conditional SPA to acquire a majority stake of 56% in the exclusive operator of public safety wireless networks across the Republic of Ireland, Tetra Ireland Communications Ltd, for EUR76 million. Company may also have the opportunity to increase the acquisition up to a 100% holding.
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United Oil & Gas PLC - Dublin-based oil and gas company with assets in Egypt, the UK, Italy and Jamaica - Says AJ-13 well, in the Abu Sennan licence, onshore Egypt, tested with flow rates of 897 barrels of oil per day. Says the well has now been tied into the existing facilities and brought on stream at an initial rate of around 600 bopd. United holds a 22% working interest in the Abu Sennan licence. Says a trading and operations update will be released in late January to summarise 2021 operational activities and to provide initial guidance on 2022 plans and performance expectations.
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CPPGroup PLC - Leeds-based products and services for financial services and insurance sectors - Says portfolio company and cyber risk management firm KYND secures GBP3.3 million of investment from Business Growth Capital. BGC is a UK and Ireland-based growth capital investment company that provides funding as a minority, non-controlling equity partner.
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BMO Private Equity Trust PLC - investment in unlisted companies - Announces that a shareholder is proposing to sell 2.8 million BMO Private Equity Trust shares, around a 3.8% stake. Company's corporate broker, Singer Capital Markets, is working with the potential seller in respect of the sale. Says sale will conclude by no later than January 21.
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Firering Strategic Minerals PLC - Cyprus-incorporated operator of Atex lithium-tantalum mine project in Ivory Coast - Says first phase auger drilling campaign and soil sampling at Atex complete. Results to be delivered in batches in the first quarter of 2021. "We are excited about the first half of 2022 and beyond as we push ahead with exploration at Atex. With lithium being in high demand for the production of batteries for the EV market, the time is right to focus on what we believe could be the next major lithium resource in West Africa," copmany says.
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Kefi Gold & Copper PLC - Tulu Kapi gold project in Ethiopia - Says on the start-up of all three company-managed projects over the next few years, combined projected revenue at today's metal prices is estimated to approximate USD560 million per annum. "We will continue to press forward with our projects in both Ethiopia and Saudi Arabia and bring them online as soon as conditions in each jurisdiction allow. Our work is sometimes in challenging circumstances and we deeply appreciate the support, patience, dedication and understanding shown by our shareholders, employees, suppliers and host communities," company says.
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By Greg Roxburgh; gregroxburgh@alliancenews.com
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