Jersey Oil & Gas (LON: JOG) is in advanced negotiations for a farm-out of the Greater Buchan Area with a significant North Sea company. There is an exclusivity period until the end of April. Once a partner is secured then regulatory approvals can be sought. There are estimated resources of more than 100 million barrels of oil. The share price bounced back by 52% to 232.5p.
Arc Minerals (LON: ARCM) has extended the exclusivity agreement with Anglo American until 21 April. The proposed joint venture is planned for copper interests in North Western Zambia. The original agreement was announced in May 2022 and Anglo American would have the right to earn 70% of the joint venture for an aggregate investment of up to $88.5m. The share price recovered 15.9% to 4p.
Sustainable fuels developer Velocys (LON: VLS) has risen on the back of the latest UK government consultation paper on sustainable aviation fuel, which identifies the Fischer Tropsch process as part of the main technology. This can be supplied by Velocys, which has active projects in the UK and US. The share price increased 8.73% to 3.55p.
TPXimpact (LON: TPX) has been granted a waiver on its debt covenants on its £30m facility as of 31 March. The lender is reviewing cash flow forecasts so that it can make a decision concerning future waivers. The digitisation services provider is expected to make a modest profit in the year to March 2023. More than £30m of new business has been won in the latest quarter. The share price rose 5.26% to 30p.
Shearwater Group (LON: SWG) full year results will be below expectations. Cenkos has slashed its revenues forecast for the cyber security company for the year to March 2023 from £37.7m to £27m and suspending 2023-24 forecasts. There is still £3.4m in cash after the expected full year loss and £1.2m in capitalised development costs. This is a significant downgrade on the last day of the financial year and it will mean that investors will lose confidence in Shearwater’s ability to meet expectations. The share price slumped 39.6% to 49.5p.
The UK Competitions & Markets Authority has launched a phase 2 investigation into the UnitedHealth Group bid for healthcare IT provider EMIS (LON: EMIS). UnitedHealth had offered to sell a part of its existing business, but this was not deemed to solve the concerns. The share price fell 23.2% to 1391p. The bid is 1925p a share in cash.
Trading in minerals projects developer Aura Energy (LON: AURA) shares has been suspended on ASX, but it continues on AIM. The ASX suspension is expected to continue until 4 April when an announcement will be made. The share price declined by 18.8% to 13p.
Kore Potash (LON: KP2) says it continues to negotiate an engineering, procurement and construction contract for the Kola potash project. The financing proposal could be provided within six weeks of that contract being finalised. There was $5m in the bank at the end of 2022. The share price slipped 3.7% to 0.65p.