Ceramic Fuel Cells Share News (CFU)

The bombed-out shares of Ceres Power showed signs of life on Monday morning after the company announced significant improvements in the durability of its core fuel cell module technology.Meanwhile, the long term test programe of its combined heat and power (CHP) engineering technology remains on schedule to commence the planned in-home field trials in the second half of this year. The company plans to hold a final set of field trials in 2013 ahead of the CHP product launch in 2014. The company had net cash of £18.6m at the end of 2011.Rival fuel cell technology manufacturer Ceramic Fuel Cells said it received orders for 106 CHP units in the final quarter of 2011, taking the total number of orders received up to 614 units, representing a doubling of the order book from June 2011. The current open order book stands at 477 units.The overall net cash flow after investing and financing activities for the December quarter was an inflow of A$9.7m (£6.5m). Cash at the end of 2011 stood at $22.5m (£15.1m), the Australian company said.Canada-based oil and gas company Antrim Energy has signed an agreement with Valiant Petroleum to proceed with early installation of sub-sea facilities for the development of the Fionn Field in the UK Northern North Sea block 211/22a South East Area. Antrim holds a 35.5% working interest the block. A development plan and budget for the Fionn Field has also been agreed to by the joint venture partners who have stakes in the field.Landore Resources was on the up after the firm announced it had intersected a "massive" sulphide mineralisation at the Junior Lake site in Ontario. The resource showed elevated grades of nickel, copper, cobalt and platinum. A drilling programme, which consisted of nine holes totalling 4,796 metres, was recently completed to further test the zone. Canada-based oil and gas company Antrim has signed an agreement with Valiant Petroleum to proceed with early installation of sub-sea facilities for thedevelopment of the Fionn Field in the UK Northern North Sea block 211/22a South East Area. Antrim holds a 35.5% working interest the block. A development plan and budget for the Fionn Field has been agreed to by the joint venture partners who have stakes in the field.Shareholders in international uranium firm Forte Energy were suffused with a warm glow after the company said positive results were achieved at the Maritania site. The results confirm mineralised extensions both to the northwest and at depth below the site. So far results have been received for 36 of 55 drilled holes. The results for the remaining holes are due shortly, the firm said.Software group Imaginatik, a provider of enterprise innovation services, has announced that during December 2011 all anticipated renewals were contracted, a number of which have been renewed on multi-year contracts, worth a total of about £1.1m. The company expects to have received over £0.9m of the £1.1m in cash by the same date, while £0.7m of the £1.1m will be recognised by the company in its current financial year, ending 31 March 2012. Technology commercialisation business IPSO Ventures said financial constraints in the six months to the end of October prevented it from making any new investments in the period. On the bright side, the company made its first modest net interim profit of £27,666 versus a loss of £230,128 in the corresponding period of 2010, principally as a result of increases in the valuation of two portfolio companies, Biocroi and IPSol Energy, during the period. Both companies raised new funds from third party investors at improved valuations. Eruma, the specialist provider of security technology, has won a contract worth around $0.27m to install its Secur range of security blinds at a major international non-government organisation in Yemen. Red Emperor Resources, the AIM-listed oil firm, has begun site construction at its Georgian operations in preparation for the spudding of its second exploration well at the Kursebi 6 prospect. The firm plans to begin drilling in early to mid-February, with a target depth of around 3,500m. Red Emperor's joint venture partner, Range Resources, has employed independent technical consultants, NTD Energy, to perform a fresh review of all of the seismic and geological data across the top three Kursebi prospects previously identified. The Kursebi 6 prospect was identified as the most robust prospect which showed increasing chances of encountering more reservoir and mature source rocks.