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(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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President Energy PLC - oil & gas company focussed on Latin America - Reports drilling of DP-2001 well at the Dos Puntitas field, Puesto Guardian Concession in Salta, Argentina completes safely and successfully reaches planned target depth of 3,225 metres, on time and on budget with encouraging results. Following the encouraging results, casing running is taking place and the new well will be tested in January, President clarifies. Separately states that the workover of Triche well in Louisiana is "progressing with promising progress".
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BlueRock Diamonds PLC - Kareevlei diamond mine in the Kimberley region of South Africa - Sells three higher value gem quality diamonds with a combined value of USD180,000 as part of November tender. Executive Chair Mike Houston says: "The market remains remarkably buoyant as highlighted by our November tender results, which achieved an average value of USD496 per carat; this is up on the pre-Covid prices achieved in 2019 of USD415."
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Savannah Energy PLC - African‑focused energy company - Continues to plan restoration of shares to trade on AIM, with it intending to publish its AIM admission document on or around December 17. Confirms shares remain suspended from trading due to Savannah being in advanced exclusive discussions with ExxonMobil Corp on a proposed acquisition of its upstream and midstream assets in Chad and Cameroon.
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Chariot Ltd - Africa-focused transitional energy company - Proposes to raise USD11 million via a placing and subscription, issuing 117 million shares at 7 pence each. The subscription will be for around USD9.0 million and the open offer will be for up to USD2.0 million. Proceeds will be partly used to progress new ventures on material producing gas assets focused on Africa. "Chariot has made significant progress on the objectives we set for ourselves earlier in the year. We are on the cusp of a pivotal drilling campaign in Morocco, which gives us the opportunity to enhance the appraisal campaign on the Anchois gas fields for relatively low incremental cost, potentially advancing us towards the next phase of development," comments acting Chief Executive Adonis Pouroulis.
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Toople PLC - Letchworth Garden City, England-based telecom services for small and medium enterprises - Conditionally places 838.8 million shares at 0.045 pence per share to raise GBP380,000. Placing is oversubscribed and proceeds will used be to "provide further working capital to support the company's growth and enhance the company's service offerings". Toople is convening a general meeting to obtain shareholder approval for the proposed capital reorganisation.
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Xtract Resources PLC - London-based metals and minerals producer - Two more drillholes successfully test extension of mineralisation as part of ongoing Phase 2 drilling programme at Bushranger copper-gold exploration project. Based on preliminary logging, variable strength visible chalcopyrite mineralisation, with shorter sections of better mineralisation are intersected, Xtract states. Executive Chair Colin Bird explains: "These results continue to expand the Racecourse deposit, indicating continuity both in thickness and along strike towards the south. In general the drilling programme is confirming the outline of the conceptual pit and demonstrates continuity beyond the pit limits. We suspect that the southeastern extension is veering more towards the south-southwest and we will test out this assumption with subsequent holes."
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Live Co Group PLC - Surrey-based events and entertainment company - Says investee Start Art Global performing well with platform formally going live in in October 2021. Revenue of group to date now in excess of GBP200,000. Start Art is an online art and digital art sales and news platform. Live Chair David Ciclitira comments: "I am delighted with the progress of Start and believe that LVCG's investment will be value accretive for the group as the Start team begin to deliver an ambitious strategy across the physical and virtual art space."
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By Will Paige; willpaige@alliancenews.com
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