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https://www.valuethemarkets.com/2018/11/07/immupharmas-chairman-realising-blockbuster-potential-firms-lupus-drug-following-major-setback-imm/

Finance sorted:

· Avion will fund the full expected costs of the new Phase III trial up to $25 million.

ImmuPharma licenses lupus drug Lupuzor to Avion in the United States
BY REUTERS
ORIGINALLY PUBLISHED: NOV 28, 2019

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LONDON — British pharmaceutical firm ImmuPharma said on Thursday it had signed a licensing and development agreement for Lupuzor, a first-in-class treatment for auto-immune disease Lupus, with U.S. company Avion Pharmaceuticals.

Avion and ImmuPharma will co-develop Lupuzor, including a new Phase III trail, and Avion will commercialize the drug exclusively in the United States, ImmuPharma said.

The British company said it would receive milestone payments of up to $70 million, comprising $5 million upon regulatory approval and up to $65 million based on sales targets.

https://www.google.co.uk/amp/s/business.financialpost.com/pmn/business-pmn/immupharma-licenses-lupus-drug-lupuzor-to-avion-in-the-united-states/amp

"Drug developer ImmuPharma (IMM) is expecting Phase III results in the first quarter of 2018 for lupus treatment Lupuzor. Analysts speculate the drug could hit multi-billion dollar annual sales if the tests are successful and the drug gets approved by the regulators

If we go up 50% that’s 42p

If we do 100% that’s 56p

What the CEO said

Chief executive Dimitri Dimitriou said Avion had a strong track record of taking late stage drugs through the regulatory process and onto commercialisation.

“Importantly, [its] specialist sales team is well respected within the rheumatologist community, whose focus is on prescribing safe and efficacious treatments for auto-immune diseases such as lupus. This makes it a perfect fit for Lupuzor.”

Important validation

The Avion deal has effectively vindicated management’s faith in the drug, which missed its primary endpoint in a phase III study last year.

Experts and those who had followed ImmuPharma for some time said the outcome of the phase III was far more nuanced than the top-line results suggested and showed that Lupuzor worked well in certain patients, chiefly those who were antibody-positive.

After the end of the trial, 62 patients took part in a follow-up study – called an open-label extension study.

Results released in July confirmed Lupuzor’s “outstanding and robust safety profile”, with no serious adverse events reported.

On top of that, ImmuPharma was also able to show a third of the patients taking the drug were in remission at the end of the assessment.

Another 500 lupus sufferers are being given access to Lupuzor for the next two years as part of a managed access programme.

A summary of key highlights to both Agreements

· Avion and ImmuPharma will co-develop Lupuzor™ to allow registration for marketing in the US, Europe and elsewhere

· Avion will commercialise Lupuzor™ exclusively for the US.

· ImmuPharma retains all the rights to commercialise Lupuzor™, outside of the US, either through distribution partnerships or directly by ImmuPharma.

· A new optimised international Phase III trial in lupus patients (which is expected to include patients in the US, Europe and elsewhere), is targeted to commence in 2020, following agreement of the trial design between Avion, ImmuPharma and the US Food & Drug Administration ("FDA").

· Avion will fund the full expected costs of the new Phase III trial up to $25 million.

· ImmuPharma will receive milestone payments of up to $70 million. A $5 million milestone payment will be paid on regulatory approval of Lupuzor™ in lupus, and $65 million will be based on achievement of overall sales targets.

· ImmuPharma will also receive $5 million for each additional approval, other than lupus, as Avion also has the rights, for the US, to explore further opportunities within Lupuzor™'s peptide platform for other auto-immune indications outside of lupus.

· ImmuPharma will receive from Avion tiered double-digit royalties up to 17 percent, according to pre-specified annual US sales targets.

· Avion has the right to use relevant trademarks for the development, manufacture and commercialisation of products.

USA believes drug works!

Ghanaian government to revoke four petroleum exploration licences for lack of development
MAGDALENE TEIKO LARNYOH 11/07/2019
Tell your friends

The Ghanaian government is set to annul the petroleum exploration licenses of some four companies which have not developed their allocated oil blocks.
Deputy Petroleum Minister, Dr Mohammed Amin Adam
Deputy Petroleum Minister, Dr Mohammed Amin Adam
According to the Deputy Petroleum Minister, Dr Mohammed Amin Adam, this is part of measures put in place by the government to ensure that its petroleum assets are developed for the benefit of Ghanaians.

He indicated that the companies were identified for termination after they reviewed 14 licences that were awarded in recent years to other companies.

Speaking on the possibility of companies already producing to further explore offshore areas the minister said that the laws on petroleum and exploration would have to be amended.

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The amendment will allow companies already producing to further explore offshore areas for more oil.

“We’re changing our law to allow companies that are already producing in a certain area to continue with exploration. We have in our laws, provisions that constrain investment,” he said.

https://www.pulse.com.gh/bi/strategy/ghanaian-government-to-revoke-four-petroleum-licences-for-lack-of-development/e8mhdqw

Nov 8th, 2019

Ghana is revising its laws on oil and gas licenses in an attempt to drive new production, and the government plans to revoke licenses held by four companies that have not developed their assets.

Deputy Minister for Petroleum Mohammed Amin Adam said the proposed changes would allow companies producing in blocks to explore elsewhere in the same area without having to obtain a new license.

https://www.offshore-mag.com/regional-reports/article/14071657/senegal-mozambique-planning-licensing-rounds

NOVEMBER 6, 2019 / 5:10 PM / 21 DAYS AGO
Ghana to change laws on licenses to spur oil production

Hope we get news by Friday, as tomorrow is the 21st day?

https://www.reuters.com/article/us-africa-oil-ghana/ghana-to-change-laws-on-licenses-to-spur-oil-production-idUSKBN1XG2HU

"The government also plans to revoke licenses from four companies that are not developing their assets. The licenses were awarded between 2011 and 2016, but he declined to name the companies as they had not yet been notified.

“We are convinced that we cannot continue to allow them to hold the blocks,” he said.

...."Parliament has 21 days to review the regulatory changes, and Adam said he expected them to go forward without delay."

Springfield oil discovery could be Ghana's biggest find

Published by Nicholas Woodroof, Assistant Editor

Oilfield Technology, Wednesday, 20 November 2019 13:00

A deepwater oil discovery offshore Ghana by independent Springfield Group is historic for Ghana and Africa’s local content. Not only does it mark the first deepwater oil discovery made by an African oil company, but it could also be a bigger find than Ghana’s Jubilee Field, which remains the biggest oilfield in the country.

While figures are still temporary and several additional assessments need to be conducted, the discovery is the result of the drilling of two wells over the past 40 days, which both struck oil. As much as 1.2 billion bbl of oil could be held within the deposit, with up to 35% recoverable according to Springfield. Equally important, commercially viable quantities of gas were also discovered.

https://www.oilfieldtechnology.com/exploration/20112019/springfield-oil-discovery-could-be-ghanas-biggest-find/

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https://www.ft.com/content/59ef856e-088d-11ea-b2d6-9bf4d1957a67

Independent African energy company finds oil off Ghana coast
Springfield Group set to reveal deepwater discoveries it says will be bigger than Jubilee field

An oil rig in Sekondi waters, Ghana. The west African country expects to be producing about 250,000 barrels of oil a day by next year © AFP via Getty Images
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David Pilling in Accra NOVEMBER 17 2019Print this page15
A Ghanaian company says it has made history by becoming the first independent African energy group to discover oil in deep water after its drilling revealed significant quantities of oil off the coast of Ghana.

The Springfield Group, which has no history of oil exploration, will in the next few days announce it has made two discoveries totalling 1.2bn barrels of crude in a block that it says will be bigger than the Jubilee field, Ghana’s biggest.

The Jubilee field, operated by the UK’s Tullow Oil, is one of Africa’s largest recent finds and propelled Texas-based Kosmos Energy, which discovered it in 2007, to a New York and subsequent London listing.

That award led Clontarf to pursue legal action, but the relinquishment could clear the way for Clontarf to recover all the original 1,532 sq km (591 sq mi) acreage, the company said.

The directors believe all outstanding issues have now been resolved with GNPC on Tano 2A and that the signed petroleum agreement is being sent to the cabinet. Therefore, all legal proceedings have been dropped.

09/20/2019

Rockfire is now awaiting the results of a further 13 drill holes from Plateau, and already started a geophysical survey targeting anomalies to depths of around 500m below surface. This latter work aims to identify a ‘sweet-zone’, where higher average grades are likely to be attainable.
Rockfire’s chief executive David Price said that hole BPL025 has provided the first indication that Plateau has grade continuity extending at depth. This supports the business’s belief that the deposit is much larger than previously demonstrated.

https://www.valuethemarkets.com/2019/11/26/rockfire-resources-rockets-after-intersecting-major-plateau-gold-system-rock/

Will see Mcap well over 10million!

Could well be tomorrow

"At the nearby Mt Wright Gold Mine (47 km northeast of Plateau), the 1 g/t Au mineralisation outline starts at approximately the same depths as we see at Plateau, however it is not until around 400 m from surface that the higher-grade +2 g/t Au outline starts at Mt Wright. We expect a similar gold grade increase at depth. This zone should be highlighted by the geophysical survey currently underway."



"Rockfire is confident that geophysics will highlight any potential targets at depth and we are looking forward to seeing the responses from this survey. Once the data has been collected, processed and interpreted, we will inform the market of these results. In the meantime, the Company is also expecting assay results from the other 13 drill holes at Plateau, which were drilled as part of the same program. These additional holes were designed to extend mineralisation below previous near-surface intervals and to also test a new breccia zone (termed the Central Breccia), which was identified by our Rockfire geologists. We look forward to releasing these drilling results when received from the lab.

Further 13 assay results could come tomorrow or Friday or Monday.

All taken same time as yesterday's assay results

https://www.rockfireresources.com/wp-content/uploads/2019/11/Rockfire-Presentation_20191121_latest.pdf