TRADING UPDATES: Buccaneer Energy to plug and abandon Pine Mills well

Mon, 10th Nov 2025 21:49

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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Dekel Agri-Vision PLC - West Africa-focused agricultural company - Provides October production update. Says crude palm oil production showed some improvement but was still 22% lower year-on-year. Anticipates a further improvement in November, with monthly CPO production expected to surpass the "relatively low figure" recorded a year ago. The prolonged low season contributes to stronger local CPO pricing. CPO sales volumes increase slightly, with all production sold, reflecting tight local inventory levels from the low production period across the region. Palm kernel oil prices also increase in October, averaging 52% higher than a year prior. Sustained elevated CPO and PKO prices have played a key role in offsetting the impact of the extended low-season production environment. Monthly raw cashew nut processing rises to over 700 tonnes in October from 520 tonnes in September. This represents a significant operational milestone, company says.

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Buccaneer Energy PLC - Texas-focused exploration company, previously known as Nostra Terra Oil & Gas - Says its Allar 1 well in the Pine Mills Field was drilled to 5,767 feet but did not encounter a commercial hydrocarbon accumulation. The well will be plugged and abandoned, with the drilling rig redeployed to the Fouke 4 well nearby. CEO Paul Welch says the result is "disappointing" but provides valuable geological data to refine the field model and de-risk future drilling. Buccaneer continues to generate revenue from existing production as it pursues plans to boost output across the Pine Mills Field.

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SolGold PLC - Reports additional strong assay results from diamond drilling at the Tandayama-America deposit in northern Ecuador. Tandayama-América plays a significant role in the company's revised strategy, implemented earlier this year, focusing on an accelerated, smoother production profile at Cascabel, which, in turn, will assist in unlocking critical financing. SolGold aims to release an indication of the initial resource endowment at Tandayama in the coming weeks. As part of this mineral resource estimate, the work will also include conceptual pit definition and initial project parameters. Further optimisation work will soon follow, providing the company with a clear plan for execution.

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Strategic Minerals PLC - London-based mineral producer, which operates in the UK, US and Australia - Announces that its wholly owned subsidiary, Cornwall Resources Ltd, is providing an additional analysis update for drillhole CRD033, and new tungsten equivalent calculations, from its Redmoor Tungsten-Tin-Copper Project located in Cornwall, UK. CRL says tin assay results from drillhole CRD033, hole 1 of the ongoing drilling campaign at Redmoor, provide high grade tin intersections and updates through the inclusion of tin to intersections previously reported for tungsten and copper. CRL is awaiting assay results from further completed drillholes, with all results expected prior to the MRE update to be completed in the first quarter of 2026.

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Ananda Pharma PLC - London-based biopharmaceutical company that develops regulatory-approved cannabinoid medicines to treat complex, chronic conditions - Receives a research and development tax refund of AUD340,166, around GBP168,065, from the Australian Tax Office. The refund relates to the phase 1 study completed in Australia between July 2024 and June this year. Amanda expects to receive a further refund in the third quarter next year, in relation to expenditure on the phase 1 pharmacokinetic study completed in Australia between July 2025 and June 2026. This refund is expected to be around AUD500,000 based on current forecasts. "Australia's strong regulatory environment as well as advantageous tax arrangements, where a 43.5% refundable tax rebate is available for eligible R&D expenditure, have served us well. We can now deploy this refund into other clinical trial workstreams and look forward to continuing apace and updating shareholders as we progress," Chief Executive Officer, Melissa Sturgess says.

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Agronomics Ltd - Isle of Man-based investor in cellular agriculture - Portfolio company, the Every Co, successfully closes a USD55 million series D financing round. The round, led by McWin Capital Partners through the McWin Food Tech Fund, includes participation from Main Sequence, Bloom8, TO.VC, Minerva Foods, Grosvenor Food & Ag, New Agrarian Co Ltd and SOSV. Agronomics' investment is currently carried at GBP5.9 million and the position represents around 4% of Agronomics' most recently reported net asset value of GBP145.3 million as of June 30.

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By Jeremy Cutler, Alliance News reporter

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