(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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Canadian Overseas Petroleum Ltd - oil and gas exploration, production and development company with operations focused in the US state of Wyoming - Provides operational update - Says construction of the Barron Flats Shannon Unit USD4.5 million upgrade is to start in April - Notes this will improve production levels by resolving constraints and bottlenecks that have limited oil production at the company's operated BFSU over 2022 to present. Adds construction to commissioning is expected to take approximately 2-3 months - Further, at Cole Creek reports a second Frontier 1 recompletion will commence in the second quarter once surface access restrictions allow. Also reports discussions with a large oil company who approached the company regarding the exploitation of its Frontier oil resources are continuing with the current focus on commercial terms. Appoints Thomas Richardson as a Non-Executive Director effective April 20.
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Neometals Ltd - emerging sustainable battery materials producer - Announces that its wholly owned subsidiary Australian Titanium Pty Ltd has executed a term sheet outlining key principles that will form the basis for a binding take-or-pay offtake agreement with Jiuxing Titanium Materials Co Ltd. States the term sheet marks a key step in Neometals' strategy to develop a mining operation at its Barrambie Project in the Murchison region of Western Australia. Jiuxing is one of the leading chloride-grade titanium slag producers in China.
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Riverstone Credit Opportunities Income PLC - energy infrastructure and energy-transition credit investor - Reports net asset value at March 31 was USD1.06, little changed from USD1.06 at the end of December 2022. Explains the slight reduction was principally due to a movement in the valuation of the warrants related to a loan that was previously repaid.
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i(x) Net Zero PLC - investing company focused on Energy Transition and Sustainability in the Built Environment - Says after a strategic review company will focus firmly on growing the net asset value of the company's investments. Notes this will be achieved by identifying and seeking to execute profitable investment realisations from the existing investment companies in the short term and by sourcing high growth investment opportunities. Introduces near term target of reducing operating expenditure to 2% of NAV, down more than 50% from the 2022 operating expenditure. Further, names Jonathan Carpenter Stearns as CFO. Also enters new secured USD7.5 million two year term loan facility.
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Smartspace Software PLC - Bury St. Edmunds, England-based SaaS-based technology business, which designs and builds smart software solutions - Announces the successful launch of SwipedOn's SaaS visitor management platform in Taiwan, China and Germany. This follows on from last year's initial launch in Asia through South Korea.
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Eckoh PLC - London-based secure payment and customer contact products - Announces launch of new cloud-based secure call recording solution for contact centres. Nik Philpot Chief Executive Officer expects secure call recording to be really well received by existing clients. "We also expect interest from new clients who are attracted to a highly cost-effective and fully featured alternative to ageing or more basic recording solutions, which will then give them visibility of and access to our broader data security portfolio."
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By Jeremy Cutler, Alliance News reporter
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