Oilex (LON:OEX) reported that the "Ocean Patriot" rig has arrived at the La Rocca-1 well location and the well was spudded on 30 April 2011 and that the La Rocca-1 well drilled to section total depth of 2,220 metres and run and pressure tested casing; current operation is waiting on weather.
Roxi Petroleum (LON:RXP) has cancelled the deal in respect of the sale of a 35 per cent interest in BNG Ltd LLP, the operator of the BNG Contract Area.
The interest was originally sold to Canamens BNG BV in 2009 and has now been cancelled and transferred back to Roxi together with all rights under the sale and purchase agreement.
Roxi has also agreed to repay US$2.5 million of loans due to Canamens.
Mining tailings processor Berkeley Mineral Resources PLC (LON:BMR) is raising £5.8 million for a planned acquisition in Zambia which could accelerate the group’s development plans by 10 months. It has entered into an underwriting agreement with Novum Securities Ltd to seek subscribers for 145 million new shares at 4 pence each, for approximately £5.8 million.
Pan Pacific Aggregates (LON:PPA) announced a restructuring and rescue plan today, saying that short-term funding will be achieved by securing a loan against the shares of Pan Pacific Quadling Quarry. In order to repay this loan, the company will seek a further equity fund raising. It will also provide 12-18 months working capital for Quadling Quarry's next development phase and to pay all the creditors under the CVA.
Bovis Homes (LON:BVS) anticipates launching for sale on a further 23 new sales outlets during 2011, which will support the anticipated increase in average sales outlets to 76 during 2011 as a whole, 15% greater than the average of 66 sales outlets in 2010.
Bovis said today that following an encouraging start to the year, the market has remained stable with visitor numbers for the year to date remaining over 20 percent ahead of the prior year.
Greggs (LON:GRG) said that total sales in the first 18 weeks rose 4.8 percent and like for likes were up 0.8 percent and that its programme to add approximately 80 net new shops during 2011 is on track.
“It should be noted, as we have previously indicated, that profits in the first half of this year will bear the impact of some £2m from the two additional bank holidays when compared to the first half of 2010,” said chairman Derek Netherton.
Ocado Group (LON:OCDO) said that sales growth in Q2 has, as expected, been lower than Q1 as a result of capacity constraints and the higher incidence of holidays. Gross sales growth is expected to be about 12 percent for H1, up over 30 percent from 9.1 percent in H1 2010. Shares in the company were down 8 percent in early deals.