ENEG.L Share News (ENEG)

Enegi Oil says the pressure results from the ongoing chemical soak at its PaP#1 Garden Hill South (GHS) well in Newfoundland are "positive".A second chemical soak is planned to improve connectivity even further. Chemicals and acid will be injected down the wellbore at a significantly higher pressure than that of the first soak"The good pressure recovery rates observed from phases of the work programme completed to date are encouraging," Enegi boss Alan Minty said. "To ensure the best outcome for the well, we now need to take into account all of the data available to us in diligently and prudently planning our future work programme." Low Carbon Accelerator (LCA), the investment trust focused on low carbon businesses, grew its adjusted net asset value (NAV) by 19.9% to 60.3p a share as at 30 November last year.But the trust faces a continuation vote at the AGM on 29 March as the average discount of the share price to the average net asset value in the year exceeded 5%.Chairman John Hawkins suggests shareholders vote in favour of the continuation resolution given the positive outlook, progress of the investment portfolio and difficulty in getting fair value for its assets.Pressure Technologies, which makes seamless steel gas cylinders, traded in line with expectations during the first quarter and expects a strong second half to offset a slow start to the year."The board remains confident of a return to organic growth in the medium term and aims to strengthen the Group further with niche acquisitions as opportunities arise," it said Thursday.Sunrise Resources has welcomed positive results from geophysical exploration carried out late last year at the Long Lake gold mine in Canada."Results from the initial exploration programme have exceeded our expectations," chairman Patrick Cheetham said. "The geophysical results released today have identified a number of additional drill targets and planning for a second phase of drilling at Long Lake is already underway." Assura's revenues for the nine months to 31 December rose by 9.9% to £45.8m (£41.7m), as the health care property network group saw growth in pharmacies and rentals. As expected, the group has seen a 3% reduction in pharmacy gross margins since October due to planned changes in NHS remuneration. "This reduction in margin has been partially offset by better than expected first half margin (31%), new store openings and the overall increase in pharmacy revenues, which have resulted in the pharmacy division still trading ahead of the board's budget," Assura says.Due to a strong performance in its 'DataSolutions' division, GB Group's revenues for the nine months to 31 December grew by 13%, from £15.7m to £17.7m. DataSolutions, which provides ID registration, marketing and tracing services, increased revenue by 20% to £10.1m.Operating profit surged by 120% to £1.21m, and the group expects full year results to be in line with market expectations - which were revised and upgraded in October.Financial services group Merchant Securities has acquired wealth management firm GT Independent Financial Advisers for an initial consideration of £2m, payable with £1m cash and the issue of more than 4m new ordinary shares. A further £1m may become payable dependant on certain revenue targets."The acquisition is significant, more than doubling the group's assets under advisory and discretionary management, with the total rising to approximately £485m, from £205m, and is in line with the board's strategy to grow Merchant Securities' wealth management offering significantly," the group said.Shares in California- and Kansas-based oil and gas firm Sefton Resources rose 7% after it announced plans for an asset expansion in Eastern Kansas. Sefton already acquired a pipeline from Cholla Production LLC in 2010, and will now purchase a further 1,200 net leasehold acres for $200,000, which include 18 wellbores capable of re-completion. Sefton's proven reserves for 2010 grew 7.45% to 3.8m barrels of oil.Carpet and floor coverings manufacturer Victoria battled with rising raw materials prices as it increased revenue by 3.1% at constant currency between 3 October and 31 December. However, trading in the Republic of Ireland remained extremely challenging, with sales down 18.9%.UK sales were 7.6% higher, as new product introductions made earlier in the year offset poor weather conditions that affected high street sales in December. Australian revenue was up 2.4%, as the Queensland floods were thought not to have affected fourth quarter results, whilst having a short-term impact on trading in January.Shares in Service Power Technologies picked up after the provider of computerised staff management and other services said it had "entered into an expanded trial relationship with a major UK supermarket retailer."The mystery supermarket will use ServicePower's artificial intelligence-based software platform to "run a service operation which schedules service calls to customers by independent contractors."Property group Daejan Holdings issued a short statement saying performance has continued in line with expectations since the company last updated the market on 25 November. Online technology services provider IS Solutions said revenue and profits for 2010 are expected to be in line with market expectations. Project revenues in the second half of the year remained weak but were more than offset by the increased growth in the managed services and increasing recurring revenue from license support sales. The company ended the year with cash and cash equivalents of more than £1m.