Futura hails product progress 08/09/2010
Consumer healthcare concern Futura Medical says it expects European approval this year for its CSD500 erection-maintaining condom.
West Africa and Siberia-focused Victoria Oil & Gas has raised £14 million at 3.25p to pursue operations in both regions.
The fallen AIM star, steered by the indefatigable Kevin Foo, says funds from the placing, which was 40 per cent oversubscribed, will allow it to complete drilling and testing at Logbaba in Cameroon and conduct further passive seismic spectroscopy and geochemical surveys at West Medvezhye in Siberia. Victoria, which in August raised £6 million at 4.25p, says it has also drilled Well La-106 at Logbaba to its target depth of 5,495 ft and expects results in a few weeks.
Shares in Victoria, which were riding high in the mid-2000s before Russian setbacks, have swung between 6.7p and 2.88p over the past year and now trade at 3.5p. That values the company at £35 million.
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Consumer healthcare concern Futura Medical says it expects European approval this year for its CSD500 erection-maintaining condom.
Dana Petroleum says its shares are worth between £22.70p and £24.65p to support its opposition to Korea National Oil Corporation's bid at £18.
Online antibody distributor Abcam fears public spending cuts might dampen growth after lifting annual pre-tax profits 58.4 per cent to £25.8 million.