Small caps round-up Mediwatch, Mediterranean Oil, Kea … – MoneyWeek

OpSecSecurityGroup,asupplierofanti-counterfeitingtechnologiesandservices,hassaidthattradingconditionsduringtheyearendingMarch31starenowexpectedtobesubstantiallylowerthanlastyear。

Thefirmattributedthistothefactthetraditionallystrongersecondhalfoftheyearhavehas,todate,beenextremelydifficult。

MediterraneanOilGas(MOG),anexplorationanddevelopmentcompany,hasrevealedthatarecentindependentvaluationofgasreservesattheGuendalinagasfieldhasshownanincreaseof42%in2P(provedplusprobable)reservescomparedtoapreviouspre-developmentvaluation。

RPSEnergy,whichcarriedoutthestudy,assignedanetpresentvalue(NPV)tothereservesof€27。

2m。

NPVisthesumofthepresentvaluesoftheindividualcashflowsofthesameentity。

OilandgasfirmKeaPetroleumhassaidthatits2012drillingprogrammeissettobeginwiththedrillingofthePuka-1wellwithinthenextfourweekstotestforoil,andwilltakearoundtwoweekstodrill。

Ifthewellisconsideredworthyofflowtesting,availableequipmentwillbemovedfromtheWingrove-2sitetoPuka,andcouldsubsequentlybeconvertedtolongtermproductionstatusintheeventofeconomicoilflows,thefirmsaid。

InitialsetupoftestequipmentatPukawouldplacetestingoperationsinthesecondquarterof2012。

GlobaltechnologyfirmElektronTechnologysaidsalesandprofitsfortheyeararelikelytobetowardsthelowerendofmarketexpectations,followingthestrongperformanceinthepriorfinancialyear。

However,itwaskeentoemphasisethatsalesareprovingresilientagainstthecurrentbackdropoftheeconomicslowdowninEurope,whilstthegroupcontinuestomakegoodprogressintheAmericas。

ThegroupisfurtherstreamliningitsUKoperationsandisclosingandconsolidatingthreemajorleasedsites。

Savingsinoccupancycostsfromthesiteclosuresareexpectedtoexceed£0。

8mperannumandwhencomplete,thestreamliningprogrammeisexpectedtoyieldsavingsinexcessof£2mperannum。

Thecostofstreamliningthebusinessisexpectedtototal£4。

3moveratwoyearperiod,includingaround£0。

8mofcapitalexpenditure。

Exceptionalchargesareexpectedtototal£3。

5m,withalittlemorethanhalfoftheexpenserecordedin2011/12。

NorsemanGold,theAIM-listedandASX-listedAustraliangoldproductionandexplorationcompany,hasrequestedandbeengrantedavoluntarysuspensionofitssharesfromtradingontheAustralianStockExchange(ASX)。

ThecompanysshareshavenotbeensuspendedfromtradingonAIM。

UnderASXrulesatradinghaltcanonlylast48hoursandthenthecompanymustseekasuspensionofitssharesifthesameconditionsstillapply。

SoloOilhasissuedandallottedmorethan115mnewsharesat0。

65peach,inlinewiththedraw-downof£0。

75mfromthethreeyear£10mequitylinefacilityheldwithDutchessOpportunityCaymanFund。

TheadditionalfundswillbeusedforcapitaltoincreaseproductioninCanada,developtherecentlyannouncedMinaElCarmenblockinArgentinaandfurtherpotentialcashcommitmentsforTanzaniadependingontheresultsofthecurrentwellbeingdrilled。

HambledonMininghasplacedmorethan177msharesat3。

25peachtoraisearound$9。

06m($8。

56mafterexpenses)。

Theissuepricerepresentsadiscountofabout18。

75%tothepriceof4pperexistingordinaryshare。

Thefirmhasalsoagreeda$15mdebtfacilitywithEBRD,whichwillalsomakeanequityinvestmentinthecompanybysubscribingforaround58。

8mnewsharesat3。

25peach,raisingafurther$3。

0m。

Thecashgeneratedfromthesetransactionswillenablethecompanytopay$2。

5mtoAkmolaGold,whichitpreviouslyenteredintoaconditionalagreementtoacquire。

SurveillancetechnologiesgroupDigitalBarriershasbeenawardedafivemonthcontractbyanexistingUKclient,worthinexcessof£2。

5m。

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