The pace of progress shows no sign of letting up at New World Oil & Gas (LON:NEW).
The past 15 months have been a whirlwind of corporate activity and exploration that means the group is a matter of days away from spudding its first well on the highly prospective Blue Creek project in Belize.
Success here could be a “game changer”, according to chief executive Bill Kelleher.
The first significant news emerged earlier this week – not from Belize, but Denmark – as an independent study assigned an increased chance of success for its Danica Jutland project in the south-west of the country, up to one-in-five for the Jelling and Harboe prospects from one-in-eight.
Another company in for an exciting twelve months is Equatorial Palm Oil (LON:PAL).
Chairman Michael Frayne says the company continues to advance its strategy to build a significant African agriculture business.
The Liberia-focused palm oil company told investors in this morning’s interim results it had completed another ‘solid’ period.
Indeed, it achieved a number of important milestones including the full commissioning of its Palm Bay mill and its first international sale of crude palm oil (CPO).
Though these are notable achievements, Equatorial’s main focus has been on the expansion of its palm oil plantations and this year is its busiest to date. It is on track to plant 1,700 hectares of palms by the year’s end.
Oslo-listed North Sea explorer Bridge Energy (OAX:BRIDGE) this morning made its debut on London’s AIM market with a valuation of £75 million.
The listing was by way of introduction, which means no new funds were raised.
But it is a decisive move for the ambitious group as it ramps up both exploration and development activities.
Chief executive Tom Reynolds said this morning: “I am very pleased to announce the first day of dealings of our shares on AIM.
“It is another very important step in realising our strategy of becoming an established, mid-cap exploration and production company.”
Atlantic Coal (LON:ATC) remains on track to produce 160,000 tons of high grade anthracite this year from its Stockton colliery after first half production reached record levels.
The Pennsylvania-focused coal miner posted revenues 19% higher at US$8.9 mln in the six months to June as clean coal production rose by 17% to 69,415 tons.
As for precious metals, Noricum Gold (LON:NMG) said it is currently developing a 2013 work programme that will help unlock the “vast regional potential” of its Rotgülden Gold and Precious Metal Project in Austria, while Chaarat Gold (LON:CGH) told investors it is continuing to make steady progress towards production.
Finally, Metals Exploration’s (LON:MTL) financial first half statement reveals significant progress in developing its Runruno gold project in the Philippines.
However, the major landmark came after the period end as it secured the debt and equity funding required to complete the programme.
The company’s loss for the six months to June 30 was £1.5 million and it had cash in the bank of £28.7 million as of that date.