Shares give up early gains
Highlands Natural Resources and Union Jack Oil flew the flag for the oil sector, which otherwise was depressed by the slide in the oil price.
Company
LON:UJO
Union Jack Oil PLC is an oil and gas company with a focus on onshore production, development, exploration and investment opportunities within the United Kingdom and the United States of America hydrocarbon sector.
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Highlands Natural Resources and Union Jack Oil flew the flag for the oil sector, which otherwise was depressed by the slide in the oil price.
Gemfields hits a new record, Mariana expects to complete a new resource estimate and Telit strikes a new deal for its internet of things platform.
The FTSE 100 Index was 18 points off at 6138 as oil and gold prices fell
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The Footsie was 2.69 points off at 6153 but small-cap indices rose
Holmwood is located about 12 kilometres to the Horse Hill oil discovery, and the plan is to test similar targets.
Gulf Keystone, Circle Oil, Aqua Bounty Technologies, Mobile Streams, Fevertree Drinks, Torotrak, and Union Jack Oil feature in the Proactive Investors small cap highlights.
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The weekly round up of oil industry news from Proactive.
Taking its lead from Wall Street, the Footsie moved gently into positive territory
Rambler Metals and Mining commences a prefeasibility in Newfoundland, ITM Power hits the road and Union Jack expects more acquisitions.
Wressle is expected to start production at rates of around 500 barrels of oil per day later this year, and it would deliver Union Jack Oil important cash-flows.
Around 7% of Burberry's shares have been shorted. Meanwhile, The Share Centre reports that 2015 was the worst year for FTSE 350 companies' results since at least 2007.
Major share price risers and fallers in London at 1.45pm
It was all about the resource sector in early trading, with most mining, oil & gas stocks up.
Underpinning its plans is a stake in the Wressle field, where production is set to begin in the second half of 2016.
Other updates come from paving specialist Marshalls, SSE Group, Thomas Cook Group PLC and Mothercare
Collectibles trader Stanley Gibbons has had to issue shares at a deep, deep discount to raise funds. MX Oil's discounted share issue looks like a good result for the company in comparison.
Investor Update: Today's update is a timely reminder of the value that the Company has created either through judicious investment in appraisal and development assets, or through the drillbit.
Below are some of the main news-driven changes in London at 4.15pm
As well as Laughton, two other potential reservoirs, the Kilburn Sandstone and the Wingfield Flags, will also be targeted
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China Nonferrous Gold said non-executive director Abuali Ismatov has today resigned from the board for personal reasons.
Hydrocarbons were recorded at from a gross interval of 141 metres
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Shareholders signed off Shell’s acquisition of BG.
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Junior mining stocks featured prominently on Tuesday
Investments and investor services
The FTSE 100 Index recovered to stand 9.65 points off at 5867 by lunchtime
Investments and investor services
The FTSE 100 Index tumbled 83.76 points to 5793 as oil prices fell back below US$30 a barrel
Egdon believes the Laughton prospect may contain recoverable resources of 1.3 mln barrels of oil. Bramhil said the acquisition would mean a busy start to 2016 with the Keddington-5
Egdon is the operator of the new Keddington well, which aims to boost production from the mature field.
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The day's small cap news was dominated by the latest UK oil & gas licensing round.
Egdon's award is a windfall for onshore specialist Union Jack Oil.
An acceleration of the Wressle project is among the highlights, according to analyst Craig Howie
Investments and investor services
Below are the main news-driven share price movements at 4.15pm.
The placing strengthens its balance sheet and will let it take advantage of onshore opportunities, UJO said
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Here's a select batch of this week's small cap highlights
Small cap firms were boosted by fast-track news, as the pace picked up for key projects.
"We’re comfortable in now making the decision to develop,” said Mark Abbott, Egdon managing director
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Lots of positive news from the oil sector today from places as far afield as Morocco, Alaska and ... er ... Lincolnshire.
The partners reckon production in excess of 500 barrels of oil a day per well can be achieved from Wressle.
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A look back at the main news from the small cap space.
Bramhill says Union Jack Oil is well placed to take advantage of a “dislocation” within the oil and gas market
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A look at the big news from the world of small caps...
Keddington gives UJO low-risk oil production and a stake in a development with upside potential
“We are encouraged by the results of the EWT of the Penistone oil zone," Hugh Mackay said
Europa's house broker said the results from the first stage of the extended well test were excellent.
Chairman David Bramhill says the deal is “a natural next step” for Union Jack
No surprise fracking was in the news this week and opponents of the process were celebrating a victory following Lancashire council’s decision....
Investments and investor services
It was a busy day in the world of small caps with a lot of companies taming up.
Biscathorpe is located about 15 kilometres away from the Wressle discovery
Fyffes' earnings are ahead of the curve for the second year in a row
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Plenty of scope for confusion today, with similarly named companies vying for attention with UK onshore oil developers.
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UK investors shrugged off concerns over Greece to follow US equities higher in the afternoon session
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Traders sit tight as stand-off between Greece and creditors continues
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FTSE 100 Index trades 16.57 points adrift at 6663.98
It marks a significant milestone for AIM firms Europa Oil & Gas, Egdon Resources and Union Jack Oil
A firm start on Wall Street encouraged a rally in London
Production testing at Wressle and exploration offshore Ireland will be catalysts for the AIM share
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The companies involved in the Horse Hill project near Gatwick dominate the risers today.
Egdon and UJO will now have 80% and 20% respectively in the exploration project
Steady state, pumped production would be a “feather in everybody’s cap,” the Union Jack boss says