Shares of Tullow Oil (LON: TLW) have been boosted on Monday afternoon following an update to shareholders explaining the resolving of an Ugandan tax dispute.

Tullow Oil plc is a multinational oil and gas exploration company founded in Tullow, Ireland with its headquarters in London, United Kingdom. It has interests in over 150 licenses across 25 countries with 67 producing fields and in 2012 produced on average 79,200 barrels of oil equivalent per day.

Tullow Oil have seen their shares boosted 3.59% to trade at 135p on Monday afternoon. 2/12/19 14:47BST.

The FTSE250 listed firm saw their shares crash a few weeks back, following a production warning issuance. However, some ground does seem to have been recovered since the alarming update.

The Ugandan Government said that they had reached a settlement about a dispute with international oil firms, which allows Tullow to revive plans to sell a stake in its assets.

The Ugandan Government has been in lockdown with firms such as Total (EPA: FP) and CNOOC (HKG: 0883) over the taxes assed on Tullow’s plans to sell part of its stakes in Ugandan oil fields.

Uganda’s previous oil tax disputes have been around capital gains tax on proceeds from asset sales.

Hanns Kyazze, a communications specialist at the ministry of energy and mineral development, said the government had offered the companies a deal to end the dispute, although he did not provide details on the agreement.

“They (firms) have now accepted that proposal and are moving on to ensure that package of proposed terms is operationalised,” Kyazze told Reuters.

Total, Tullow and CNOOC hold equal stakes in the fields, however Tullow decided to sell a 22% stake to its partners. This deal eventually collapsed due to business disputes.

Kyazze told Reuters a formal announcement would likely be made in coming days but that the agreement “untangles all issues that stalled and failed the deal, high on it are the taxes, who pays those taxes and how and when should those taxes be paid.”

With the dispute now settled, the government expects the firms to reach a verdict by the end of the first quarter of 2020.

Ariana Resources plc (LON: AAU) have updated shareholders on Monday about a new acquisition in Cyprus which has been formalized.

Ariana Resources is an AIM-listed gold exploration and development company with joint venture gold mining operations in Turkey, the largest gold producing country in Europe. Ongoing exploration and development is supported by a profitable, low operating cost gold mine in western Turkey.

Shares of Ariana Resouces currently trade at 2p (+0.93%). 2/12/19 14:21BST.

Ariana have seen a mixed financial 2019, as the firm reported a strong second quarter after success at its Kiziltepe Mine back in July.

Today, shareholders can be pleased about the new acquisition as Ariana have shown an active interest to diversify and expand in an ever competitive market.

London-based Ariana has signed an earn-in to buy the interest in Venus Minerals Ltd, which holds the Klirou and Kokkinoyia gold prospects. It intends to develop them together as the Magellan project.

It has already spent €600,000 on taking a 6% holding in the company, and has committed to a further €2.4 million of expenditure over the next three years.

Klirou has a historical resource of 4.3 million tonnes of ore at 0.5% copper and 0.8% zinc plus unquantified gold, while Kokkinoyia holds 5.2 million tonnes at 0.7% copper and an unquantified amount of gold.

Ariana commented by saying that the resources at the mine are open in several directions, and there is significant potential for gold rich zones which may have been previously missed.

Ariana Managing Director Kerim Sener said: “We are exceptionally pleased to expand our interests within the Tethyan metallogenic belt and to do so in the operationally-friendly jurisdiction of Cyprus represents the fulfilment of a well elucidated long-term diversification strategy of the company.

“Cyprus holds a global reputation for high-quality copper deposits, which tend to occur in distinct clusters; many of which remain significantly underexplored. We are also pleased to be working alongside a first-rate in-country team, committed to the development of the Cypriot mining industry.”

“Ariana is making full use of its regional exploration and development expertise. After two years of careful due diligence and relationship building in Cyprus, Ariana is committed to the successful development of Venus Minerals,” Sener continued.

“We are also taking advantage of our geographic proximity to get maximum cost-time benefit from our existing team and infrastructure. In Venus, we now [have] what we believe to be an exceptional investment opportunity which we look forward to supporting for the benefit of all stakeholders.”

Big name competitors such as Fresnillo have seen their shares crash following production expectations slashed.

Shareholders of Fusion Antibodies (LON: FAB) have seen their shares in red, despite the firm reporting progress in their most recent update issued on Monday afternoon.

The firm offers a complete range of antibody-related services in Discovery, Engineering and Supply and have guided hundreds of projects through critical preclinical stages.

Shares of Fusion antibodies trade at 73p. (-2.20%). 2/12/19 13:23BST.

In the pharmaceuticals industry, there have been updates. Today, Indivior have seen their shares dip despite progress made in one of their research operations.

However, a positive update came from Yourgene Health PLC who saw their shares rise following confident board expectations.

The firm has seen a volatile period over the last 18 months, and last year the firms saw its shares in red after it reported a slump in trading.

Fusion Antibodies posted revenue of £1.8 million for the six months ended September 30, far exceeding the previous year’s figure of £658,000, which showed good progress for the firm.

“The company’s order levels and revenues in the first six months of the financial year showed significant growth on the previous six-month period and a marked recovery from the comparable period last year. This has been achieved by addressing a number of external competitive pressures seen over the last two years, and by improving the company’s marketing function and business development strategy,” Non-Executive Chair Simon Douglas said.

As a result of the revenue rise, pretax loss narrowed to £621,000 from £887,000. The reason the loss did narrow further was more administrative expenses, which increased to £1.4 million from £1 million.

So far, uptake of RAMP has been encouraging, Fusion said, and this is expected to continue into the second half. However, order visibility is low because Fusion depends on multiple orders which are all worth less than £100,000 and capable of being executed in two to three months. As such, order visibility past three months is limited, it explained. Nonetheless, Fusion is confident order levels will growth for both its new and existing services.

Chief Executive Paul Kerr said: “Our revenues are growing apace, and we have seen a solid improvement in the performance of the business for this period, compared to the previous six months. We have received our first commercial revenues from early adopters of RAMP, and the feedback from the service has been very promising. We are on target to deliver significant revenue growth year on year.”

In the industry, shares have been volatile, and trading has been subject to tough trading conditions.

Indivior PLC (LON: INDV) have seen their shares dip on Monday afternoon, despite reports that the firm had made progress in its Sublocade Injection analysis.

Indivior is a global pharmaceutical company working to working to help change patients’ lives by pioneering life-transforming treatment for addiction and other serious mental illnesses.

The FTSE250 listed pharmaceutical firm manufactures and markets medicines for the treatment of moderate to severe opioid use disorder with a global portfolio in over 40 countries.

In a report on Monday, the firm said that new analysis from a year long investigation of monthly Sublocade injection showed either improved or stable patient-centred outcomes versus placebo.

However, shareholders did not seem so keen on the announcement as shares dipped following the update.

Shares of Indivior dipped 4.46% to 38p. 2/12/19 13:11BST.

Indivior have seen a turbulent time in financial 2019, after the firm reported a slump in third quarter profit on October 31.

Additionally, the firm released a new treatment in February however shares fell following issues over copyright issues following issues with rival Dr. Reddy’s Laboratories (NSE:DRREDDY).

Today, the firm gave an update which did not seem to spark shareholder appetite.

Sublocade injection is intended to treat patients with opioid use disorder who have already taken a medication containing active ingredient buprenorphine. The 12-month study looked at a number of outcome measures, including treatment effectiveness and improvement in the severity of addition as measured by a patient reported Addiction Severity Index.

Other measures included health and employment status, use of healthcare resources, and medication satisfaction. Study participants who were treated with Sublocade injection showed improved or maintained outcomes across these measures when compared to a placebo.

Christian Heidbreder, Indivior’s chief scientific officer, said: “These 12-month findings strengthen our original observations that previously showed that participants receiving Sublocade over a 6-month period reported better health, higher medication satisfaction, increased employment, and decreased healthcare utilization compared to placebo.

“These findings also show that patient-centred outcomes that can be measured during office visits may help clinicians assess their patient’s improvement.”

In the pharmaceuticals market, updates have come from Faron Pharmaceuticals ImmuPharma who have seen their shares rise after progress in their respective updates.