The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
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Angus Energy PLC - oil and gas development company focused on UK assets - Says that hourly throughput rates through its process plant now exceeds its October target production rate of 6 million standard cubic feet per day with well pressures holding in the high forties. Condensate production has stabilised at or around 120 barrels per day. Says side-track planning progresses with an adjustment to spud date to October 24 to 26 from October 20, 2022, in order to accommodate a potential supply chain issue.
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Canadian Overseas Petroleum Ltd - Calgary, Canada-based oil and gas company operating in Nigeria and US state of Wyoming - Receives gas flare approval for its operated 85% WI Barron Flats Shannon Unit, from Wyoming Oil & Gas Conservation Commission. ‘This is a great result as it will allow the company to manage increased gas production with associated high working pressures as the miscible bank moves in the injection patterns. In addition, our oil production from the Shannon Unit will increase as production rates have been restricted in certain wells due to these issues,’ says Chief Executive Arthur Millholland.
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Kistos PLC - London-based energy industry investor with licenses in the Netherlands - Says High Court of Justice of England & Wales approves cancellation of bonus shares issued on Monday and the credit of €50.0 million to the company’s share premium account. Expects the court order approving the capital reduction, and a statement of capital approved by the court, to be filed with the Registrar of Companies no later than October 22.
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UniVision Engineering Ltd - Hong Kong-based CCTV and surveillance system company - Enters loan agreement with Webright Ventures Ltd to borrow £1.4 million. Says the loan will be unsecured, will have a period of three months and an interest rate of 8% per year. Around half the loan will be used as funds set aside ahead of the hearing of the winding-up petition against UniVision, which was announced back in January, and is due to be heard in court in Hong Kong on October 18. Adds that it is still working with its auditors to complete its audit and publish its annual report, after which the company’s shares are expected to begin trading on London’s AIM.
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Angle PLC - Surrey, England-based medical diagnostics company - Signs distribution agreement with Promedeus SRO to enable and support the roll out of the US Food & Drug Administration cleared and CE marked Parsortix PC1 system across the Czech Republic for its intended use in metastatic breast cancer. Says Promedeus, a part of the Vendeavour Group, a Private Equity fund with a focus on healthcare, has considerable expertise in distributing a range of advanced medical equipment into the Czech hospital and primary care markets with a track record for delivering high quality physician education and customer care. ‘We are pleased to enter into this agreement with Promedeus and are encouraged by the efforts that the Promedeus team has already made to understand the benefits that the Parsortix system can bring to their oncology focused customer base. They have a strong track record and local knowledge which can help support the development of a new market for Parsortix,’ says Founder & Chief Executive Andrew Newland.
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