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TRAP OIL GROUP PLC (TRAP.LN), an independent U.K. oil company,
said Monday it has agreed to buy a 15% stake in the Athena oilfield
from Dyas UK Ltd., a subsidiary of SHV Holdings NV, the largest
privately-owned conglomerate in The Netherlands.
Trap expects the GBP34.5 million acquisition of the North Sea
oilfield will be "transformational, cash generative and, together
with tax synergies and anticipated hedging", should generate
enhanced returns.
At 0900 GMT shares +1.25 pence, or 5.2%, at 25.5 pence.
CAPITAL DRILLING LTD. (CAPD.LN), an emerging markets-focused
drilling services company, reported significant earnings growth for
2011 as demand for its services rose, leading to expansion into new
countries and an increase in its drilling rig fleet size at it
prepares for continued growth.
Executive Chairman Jamie Boyton said: "The current year has seen
a strengthening in demand for quality drilling services, and this
continues to translate into high rates of rig utilization and solid
earnings visibility for the year ahead."
Shares +4.0 pence, or 4.7%, at 89.0 pence.
VALIANT PETROLEUM PLC (VPP.LN), a Norway and U.K.-focused oil
company, said it has signed a deal with Rocksource ASA (RGT.OS) to
take stakes in most of its licenses in the Norwegian Continental
Shelf for about NOK104 million, or GBP11.5 million.
Valiant said the transaction will add to its existing acreage
position in Norway including licenses in the Norwegian North Sea,
Mid Norway and the Barents Sea.
Shares flat at 522.0 pence.
CADOGAN PETROLEUM PLC (CAD.LN), a Ukraine-focused oil group,
said that it has been advised by Eni S.p.A (ENI.MI) that, after
analysis of the results for the Pokroskvoe 1 and Pokroskvoe 2a
wells, Eni won't exercise its option to acquire a second 30% of
Pokroskvoe Petroleum BV, the company holding the license.
The Pokrovskoe exploration license covers 49.5 square kilometers
in North Ukraine, and is estimated to contain around 51.06 million
barrels of oil equivalent.
Last month Cadogan ended operations on the Pokrovskoe 2a well
after equipment got stuck in the well when trying to drill to a
deeper section.
Shares -5.1 pence, or 18.7%, at 22.3 pence.
RENEWABLE ENERGY GENERATION LTD. (WIND.LN), or REG, a
U.K.-focused wind farm developer, posted a swing to profit in the
first half of fiscal 2012 on increased energy output, and it
expects further earnings growth as new projects head toward
fruition.
"REG has continued to make encouraging progress over the period.
We now have 41MWs [Megawatts] of operational wind projects with a
further 16MWs under construction which will increase our output of
renewable energy by around 40%," said Chief Executive Andrew
Whalley Monday.
Shares flat at 49.9 pence.
FTSE Small-Cap +1.0%
AIM +0.1%
-By Iain Packham, Dow Jones Newswires; +44 (0) 20 7842 9296;
uksmallcaps@dowjones.com