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"This is a transformational deal for Quintain and is the next step in realising the inherent value in our key London projects by attracting significant third party capital," Quintain's Chief Executive, Maxwell James claimed.

Quintain will receive cash of £78.8m (subject to a post-completion adjustment), of which £28.8m will be paid by Knight Dragon on completion and £50m will be received on deferred terms over a six year period. With infrastructure repayments, land receipts and fees over the next six years, based on the current business plan, Quintain anticipates receiving a further potential £80m of cash, which would bring total cash received in the six years to around £150m before development profits (equivalent to around 29 pence per share), although the actual amount of cash receipts will depend upon market conditions and the pace of development activity. Quintain will be appointed as GPRL's development and project manager for a six-year term, for which it will receive an annual fee from GRPL. On top of that, Quintain will provide site-wide development management services at Greenwich peninsula and administration services to GPRL. In total, Quintain expected to receive around £4m in fees a year for these services

London-focused regeneration specialist Quintain Estates and Development is hooking up with a Hong Kong investment group which has agreed to pump money into the development of the Greenwich peninsula in south London. The group is forming a joint venture with Knight Dragon, an investment vehicle controlled by Dr Henry Cheng Kar-Shun, the Chairman of New World Development, a conglomerate listed in Hong Kong. Knight Dragon will become the senior partner in Greenwich Peninsula Regeneration Limited (GPRL), taking a 60% stake, with Quintain owning the rest. GPRL has been granted development rights for some 14m square feet of mainly residential mixed-use development land across 150 acres at Greenwich Peninsula. Knight Dragon has agreed to stump up to £300m of revolving debt funding to GPRL at five percentage points above the applicable three-month London Interbank Offer Rate (LIBOR). Quintain, meanwhile, is under no obligation to chuck more money into the development pot, and the infrastructure it has thus far provided to the joint venture will be repaid to Quintain before any new infrastructure funding.

Papua Mining's drilling programme due to start in the fourth quarter of 2012.

Papua New Guinea focused gold and copper explorer Papua Mining posted a full year profit compared to a loss the previous year following an exceptional credit. The group reported an operating profit of $55,589 for the year ended December 31 due to an exceptional credit, compared to a loss of £213,000 in 2010. Papua Mining, which has three exploration licences in Papua New Guinea, said it is positive about its prospects for drilling success. Chief executive officer Hugh McCullough said, "Our licence holdings make Papua Mining one of the more prominent explorers in the region. We are operating in a highly prospective area with a strong team of professional geologists and technicians with proven track records." "We have carried out an intensive exploration programme over the past 12 months, the results of which have confirmed management's confidence in the targets already identified and several promising new targets have also emerged." The company has also applied for a further 11 licences, many of which are at an advanced stage of the application and issue process. If all licence applications are granted, the group will hold a total licence area of some 4,350 square kilometres, it explained in a company statement.

Multi-currency payment processor Planet Payment is provide its 'Pay in Your Currency' service to Citibank's portfolio of merchants in Hong Kong and Macau. Pay in Your Currency can offer customers the ability of paying in their home currency at the point-of-sale. They are then presented with a receipt or terminal device which displays the transaction amount in the merchant's local currency (Hong Kong dollars or Macau Pataca) and their home currency, together with the exchange rate and other service details. "With Pay in Your Currency, international travellers can enjoy a more comfortable shopping experience by knowing how much the payment is in their home currency at the point of sale," Planet Payment said in a statement on Monday. Planet Payment's General Manager for Greater China, Raymond Chuan Fong Tang, said: "The adoption of Planet Payment's multi-currency processing services has increased significantly over recent years as more merchants around the world view our services as powerful tools to help improve sales and customer satisfaction." "We are excited to continue to expand the offering of Pay in Your Currency in Hong Kong and Macau through our new partnership with Citibank," he said.

Ormonde Mining rose on Monday after it reported encouraging progress at its El Facho gold structure at the Zamora Gold Project in Spain. The firm said it had established and defined a gold mineralised zone over a strike length of some 600m with the mineralisation remaining open both at depth and along strike. The project is a joint venture with Aurum Mining. Ormonde rose 3% following the news.

ill send it again mate.......

Couldnt agree more,lots of updates to come......

of Trades 18 Vol Sold 1,100,000 Vol Bought 3,965,958

Another good day here again.......and not many shares available to pi's...............next 0.8s lol.....

Ill take a look and do some figure's gl.....

Looking strong at the moment.........just waiting for some funds to clear and i will be in gl all....

Looking for some news here soon gl all...

Regasified LNG is used in Europe, the Middle East, China and Latin America as a cost effective means of delivering gas where pipeline gas is not available or shortages prevail. Gasol's regasification orientated supply activities to the West African region are intended as a shorter term measure, which will allow for more cost effective and environmentally friendly gas-fired power generation until such time as they can be replaced with secure supplies of low-cost pipeline gas. The interim supply measures will involve Gasol installing a Floating Storage and Regasification Unit in a port in the region and supplying regasified LNG from that vessel to pipelines for transmission to power hubs. In cases where it is a gas supplier to power projects, Gasol will also aim, in due course, to acquire minority equity positions in those power supply facilities.

Gasol's strategy is to develop its own gas reserves in the Gulf of Guinea and to supply this gas to power projects in West Africa. The Company is currently working to develop its projects and the necessary infrastructure in pursuit of this objective, in conjunction with its partners. Until natural gas reserves become available, Gasol is working on plans that will secure availability of regasified LNG as an interim fuel supply to support current power generation requirements in the West African region.

“There does seem scope for a substantial increase in reserves at OPL 233 with consultants TRACS identifying more than 100 feet of net oil and given that this block lies adjacent to the 600 million barrels plus Apoi field,” Green points out. “Good seismic here together with this well data could allow a significant resource to be proved up by the end of 2012.” Two wells already exist on OPL 281 as well as good seismic data, which points to one large field that may potentially contain close on 100 million barrels. All that could be confirmed by future appraisal drilling which looks set to begin in April or May 2013, the GECR analyst adds. In the DRC SacOil owns a 3,177 kilometre licence area known simply Block III.

It would also provide the group with the funds to develop OPL281, an onshore block in the Delta region that has a gross resource of 99.2 million barrels and two untested wells drilled in 1967 and 1970 respectively. The local partner is Transcorp, while SacOil and EER once again have 20 per cent each. It differs from 233 in having 3D data, which is due to be reprocessed on the third quarter – a programme likely to continue well into the first quarter of next year. An appraisal well is scheduled for late 2013. Outside Nigeria, SacOil has an interest in Block III in the Democratic Republic of Congo, where Total has farmed in for 66.66 per cent. This leaves SacOil with an effective 12.5 per cent, with the DRC government and DIG Oil holding 15 per cent and 5.84 per cent respectively. The French major has committed to spend the work programme minimum of US$70 million on exploration and up to two wells, which means SacOil doesn’t have to make a contribution until the final investment decision phase, or FID. Block III has piqued the interest of Total because it is “on-trend” with some significant Lake Albert discoveries over the border in Uganda. Chief executive Robin Vela said the company’s current cash resources are sufficient to meet its immediate needs, though it may have to raise funds to finance OPL233 appraisal well. It does, however, have a U$25 million equity drawdown facility. Progress to date has been steady as it has worked towards this critical inflexion point. However it has received no recognition for this. “The stock market has been horrendous,” Vela admitted. “Not just for us but small-caps across the board. Whether you are mining, whether you are oil and gas it has just been a terrible time to be in the markets. “Operationally we have made progress in bolstering our team and moving our assets forward. But it is only just the start of the process. We are looking to make material progress in the next 12 months.”

The hope is the OBC will not only identify a number of drill leads, but it will also help determine the potential of the block. The current reserve estimate is based on a 900-metre radial area very close to the Olobia-1 well, which represents a fraction of the block’s gross acreage. Olobia-1 hit around 100 feet of net pay oil and 90 feet of gas when it was originally drilled in 1986. While the well was logged it was never flow tested. The 126 square kilometre block is in a very good neighbourhood with Apoi right on its doorstep. In fact there is a suspicion, unsupported at this point, that the Apoi oil system strays into OPL 233. The company owns 20 per cent of OPL233, as does Energy Equity Resources (“EER”), and the pair will fund exploration and development of the concession. The majority is held by NIGDEL, the company’s local partner. The OBC 3D survey is likely to get underway in the summer and is expected to take around three months to complete and interpret. Data interpretation and preparations for an appraisal well are projected to take up the remainder of the year. The data will also contribute to an updated competent person's report to be prepared by AGR Tracs. An appraisal well is likely to be spudded in the final weeks of 2012, or early 2013, with SacOil expected to share the US$15 million costs with EER. Success with the drill bit would set the scene for a six month period of trial oil production. Untaxed, the oil has the potential to generate as much as US$50 million of revenues if the well flows at the same rate as others in the immediate vicinity.

SacOil (LON:SAC). In Nigeria, in particular, the news flow should ramp up now that the finances are in place that will allow the exploration and appraisal of one of two highly prospective oil licences there. In April the group announced it had posted a US$25 million performance bond, which allows it to start preliminary work on the OPL233 concession in the Niger Delta. The immediate plan is to carry out 100 square kilometres of state-of-the-art ocean bottom cable 3D Ocean Bottom Cabling seismic survey (OBC), which is suited to the shallow waters of the Niger Delta. The US$10 million cash collateral element of the US$25 million performance bond, provided by Ecobank Nigeria, means is the first phase of working including the OBC is fully funded. OPL233 is a discovery with one, partially tested well, a contingent resource of 19 million barrels, and some very poor 2D seismic. But it is adjacent to the Chevron-operated 600 million barrel Apoi field, which produces some 100,000 barrels of oil a day.