New World Oil And Gas Share News (NEW)

Covert intelligence company Datong broke cover on Wednesday to announce that a patent infringement claim brought against it had been thrown out by the Court of Appeal. MMI Research had maintained that a third party product sold by Datong infringed the UK element of a patent jointly owned by MMI. Datong had made a provision of £0.3m to cover costs of litigation, including any potential compensation it might be required to pay, but now expects the costs associated with the court case will be substantially lower than £0.3m.The cruise industry has had a tough time of it of late, but All Leisure Group brought a bit of cheer to the sector with its full year results, which showed the company moving firmly into the black. Profit before tax of £5.7m for the year ended October 31st was a substantial improvement on the loss of £2.1m recorded the year before. The full-year dividend has been maintained at 1.31p.New World Oil and Gas, a company focussed on making investments in the oil and gas sector, has received a Competent Person's Report (CPR) from RPS Energy, highlighting the prospectivity of the Danica Resources Licence 1/08. Following the results of the CPR, the firm intends to negotiate a farm-out agreement, with the current operator of the licence, Danica Resources. Providing drilling is successful, RPS Energy believes it is likely that they will make excellent reservoirs.CSS Stellar, the investment company that recently decided that it wanted to get into the natural resources sector, said that Gold Mines of Wales (GMOW), in which it has a 49% stake, has had its licence to search for gold in the county of Gwynedd in Wales renewed for a year, commencing February 10th, 2012. CSS Stellar plans to work with GMOW and the local authorities to assess the economic viability of re-opening meaningful gold mining operations.Sefton Resources, a US-focused oil company, has announced that three new wells are in production, with initial flows improving as expected. These are expected to stabilise within the next 30 days. A workover program of certain wells at Tapia is expected to provide a further increase in oil production. Executive Chairman Jim Ellerton said: "We now have in place a solid base of assets which will generate long term and highly visible earnings from both California and Kansas and will position us very well to achieve continued organic growth and to accelerate this through selected further acquisitions."Jupiter Energy, an oil exploration and production company, announced today that its J-53 well has reached its final depth and indicates hydrocarbons in the zone. Initial analysis indicates 87m of gross pay and 56m of net pay. The well is now being prepared to run for a period of up to ninety days of flow testing, during which time flow rates and reservoir pressures will be measured for various choke sizes and fluid samples collected for analysis. The well will then be shut in and an application will be submitted to the relevant regulatory authorities for the well to be put onto a trial production licence.