Magnolia adds 11 wells 21/05/2013
US-focused oil and gas explorer Magnolia Petroleum (LON:MAGP) has decided to participate in another 11 wells across North Dakota and Oklahoma.
Recycled oil transformer pioneer Hydrodec reports its ‘SuperfineTM’ product has completed independent quality assurance verification.
The AIM-quoted company, chaired by innovative product entrepreneur and former City magnate John Gunn, says samples of ‘Superfine’ have been sent to its customers ‘for their final approval’. According to Gunn, this initial verification ‘signifies commencement of full commercial operation’ of London-based Hydrodec’s US facility in Canton, Ohio, with customer deliveries ‘in the immediate future’.
Floated at 5p four years ago and last recommended by Growth Company Investor at 26p last year, Hydrodec shares now trade at 45p, valuing the company at £120.95 million. Some profit taking might be prudent, but there could be more growth to come.
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US-focused oil and gas explorer Magnolia Petroleum (LON:MAGP) has decided to participate in another 11 wells across North Dakota and Oklahoma.
Supplier of computing platforms for gaming and slot machines Quixant (LON:QXT) has joined London's junior market.
North Sea-focused Xcite Energy (LON:XER) will sell off data worth US$15 million (£9.9 million) regarding its Bentley 9/03b-6, 6Z well.
Fiji-focused Vatukoula Gold Mines (LON:VGM) will receive £4.5 million from SCD Energy in exchange for a 19.2 per cent stake in the company.
Shares in temporary hotel company Snoozebox Holdings (LON:ZZZ) tumbled after it was announced the business will undergo a reorganisation.
There are now 91 London-listed cash shells, compared with 64 last year, according to the annual Cash Shells Directory produced by Vitesse Media Research.