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Small caps round-up: WH Ireland, Norseman Gold, Geong...

Mon, 28th Feb 2011 14:40

Stockbroker WH Ireland made pre-tax loss of £0.3m in the 12 months to November, much less than the £2.1m deficit reported the year before.Turnover fell 25% to £18.4m, but the new financial year has started well, in line with the firm's internal budget and much better than for the previous year. "Overall, I would say that the year ended with WH Ireland being in much better shape than it has been in recent years, but it is just the 'end of the beginning' rather than cause for congratulation," boss Paul Compton said.Norseman Gold lost A$803,000 in the six months to December compared with a $610,000 profit the year before as the firm focused on developing two new mines.But the company has now shifted from a development focus to production in the new year "with the emphasis on returning the operations to profitability in the June quarter, as production ramps to maximum mill capacity".It produced 23,391 ounces of gold last year, but predicts a "significant" increase from the extensive capital investment program carried out during the past 18 months. GEONG International, the China-focused Internet software solutions provider and operator, forecasts a "satisfactory" outcome for the year to 31 March 2011 having made good progress since interim results in December."Much of this improvement has been achieved through the transformation of the business towards a better balance between IaaS (infrastructure as a service) and SaaS (software as a service) revenue streams," it said.Pursuit Dynamics, developer of the PDX steam reactor and atomising technology, has brushed aside speculation about the ability of the business to deliver to customer expectations."The company is very confident that the technology, the team and the strategy are in place that can deliver genuinely valuable solutions to PDX's clients and strong returns for shareholders," chairman Andrew Quinn told shareholders at today's AGM.Victoria Oil & Gas says the signing of an exploitation decree for the Logbaba gas field in Cameroon is "imminent" and should result in first gas sales within five months.The announcement came as Victoria, which does not yet accrue revenues, said pre-tax losses in the six months to 30 November narrowed to $833,000 from $4.47m a year ago.Seismic mapping group Offshore Hydrocarbon Mapping predicts an interim pre-tax loss of between £1.2m and £1.5m for the six months to 28 February compared with a £1.2m last time as it completes its reorganisation following the disposal of the marine CSEM businesses. The group, which is changing its name to Rock Solid Images, said revenues are expected to be about £1.8m, up from £1.7m last time.Conglomerate Melrose has sold three of its smaller businesses - Madico, Logistex UK and Brush Traction - generating aggregate sale proceeds of approximately £20.5m.

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9 Jul 2014 10:35

UK WINNERS & LOSERS: Insurers Admiral And Aviva Lead FTSE 100 Fallers

9 Jul 2014 09:00

Victoria Oil & Gas Suffers Further Delays In Wouri River Crossing

12 Jun 2014 11:58

Victoria Oil & Gas Brings More Electricity Units Online In Cameroon

LONDON (Alliance News) - Victoria Oil & Gas PLC Thursday said its subsidiary Gaz du Cameroun SA has brought on line a further three gas-fired electricity generation units in Douala, Cameroon. The oil and gas company said it brought the new connections online at the Guinness Brewery in Doual

4 Jun 2014 14:37

Victoria Oil & Gas in talks to expand Cameroon power generation

Victoria Oil & Gas is in talks to expand its gas-fired electricity generation business in Cameroon. Victoria said its subsidiary Gaz du Cameroun (GDC) was talking to Cameroon state power joint venture company Actis Sonel about supplying gas to replace heavy fuel oil as a supplement to the country's

4 Jun 2014 11:39

Victoria Oil & Gas Connects Electricity Units In Cameroon

LONDON (Alliance News) - Victoria Oil & Gas PLC Wednesday said its subsidiary, Gaz du Cameroun SA has connected three gas fired electricity generation units to customer sites in Douala, Cameroon. The oil and gas company said the new connections replace grid power at the dairy, plastic mould

4 Apr 2014 09:43

Victoria Oil & Gas Preps Gas Pipeline Extension In Cameroon

LONDON (Alliance News) - Victoria Oil & Gas PLC said Friday preparation work has begun in preparation for the extension of a one-kilometre gas pipeline extension under the Wouri river to Bonaberi area in Cameroon. The company's operating subsidiary Gaz du Cameroun SA has completed initial p

4 Apr 2014 07:48

Victoria Oil & Gas says production steady in March

African energy utility group Victoria Oil & Gas said that production at its Logbab Project in Cameroon was steady and it remained at operational break even through March. Average production rates remained at February's level of 3.2m standard cubic feet per day (mmscf/d) last month, but should rise

17 Mar 2014 11:38

DIRECTOR DEALINGS: Victoria Oil & Gas Executive Buys 1.2 Million Shares

LONDON (Alliance News) - Victoria Oil & Gas PLC Monday said Executive Director Austen Titford bought 1.2 million shares at a price of 1.13 pence per share Friday. Following this transaction, Titford now holds 2 million shares, which represents 0.05% stake in the firm. Shares in the oi

28 Feb 2014 14:19

Victoria Oil & Gas Swings To Interim Profit On RSM Arbitration Win

LONDON (Alliance News) - Victoria Oil & Gas PLC swung into a pretax profit in the half year ended November 30, 2013, as it saw revenue rise and booked a one-off gain relating to its arbitration with RSM Production Corp. The oil and gas company posted a pretax profit of USD2.5 million, versu

21 Feb 2014 09:06

Victoria Oil & Gas Subsidiary Achieves Positive Cash Flow In Cameroon

LONDON (Alliance News) - Victoria Oil & Gas PLC Friday said its subsidiary Gaz du Cameroun has become cash flow positive following a major deal to provide Socaver with gas earlier in February. The African energy utility company said Gaz du Cameroun has averaged 3.2 million square cubic feet

4 Feb 2014 11:30

Victoria Oil & Gas Completes New Thermal Gas Deal In Cameroon

LONDON (Alliance News) - Victoria Oil & Gas PLC Tuesday said its subsidiary Gaz du Cameroun has completed a new thermal gas connection with glass manufacturer SOCAVER, a subsidiary of South African Brewing Company Pty Ltd. The oil and gas exploration and development company said the SOCAVER

24 Jan 2014 13:18

STOCKS NEWS EUROPE-UK small caps fall 0.6 pct, ahead of FTSE

The FTSE small cap index and junior-listed AIM shares fall 0.6 percent and 0.8 percent respectively, outperforming the mid-caps, down 1.5 percent, and the blue chips, which fall 0.9 percent. Victoria Oil & Gas gains 12.3 percent after reaching a settlement with RSM Production Corporation ov

24 Jan 2014 10:58

UK WINNERS & LOSERS: Cairn Falls As Indian Tax Department Gets In Touch

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Friday. ------- FTSE 100 - WINNERS Weir Group, up 0.2%. The engineering company said it had won a USD98 million, or GBP59 million, two-year contract to provide

24 Jan 2014 08:34

Victoria Oil & Gas Agrees Settlement With RSM Over Cash-Call Dispute

LONDON (Alliance News) - Victoria Oil & Gas PLC Friday said it has signed a settlement agreement with RSM Production Corp in relation to its cash-call dispute for the Logbaba gas project in Cameroon. The oil and gas exploration and development company said RSM has now paid USD16.3 million t

24 Jan 2014 08:15

UK MORNING BRIEFING: Shares Open Higher On Interest Rate Assurance

LONDON (Alliance News) - UK shares have opened higher Friday, as Bank of England Governor Mark Carney backed off of forward guidance and said there is "no immediate need" to raise interest rates.

Royal Mail has reported a 2% increase in like-for-like revenues for th

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