Xcite Energy (LON:XEL) provided the main point of interest for AIM investors today as it gave further insight into its oil sales arrangements.
It confirmed that the oil from the Bentley field, currently in development, would be sold via a marketing deal with BP.
The deal, originally agreed in 2010, has also been amended with BP now providing US$20-$40 million of working capital to help Xcite through the first three years of the new offtake arrangement.
Another junior oil firm with bullish news is New World Oil & Gas (LON:NEW) which told investors that an independent assessment of the potential of its Danica-Jutland prospect in Denmark has far exceeded expectations.
The data points to a P50 resource of 147 million barrels of oil equivalent with a net present value of US$1.3 billion barrels.
Elsewhere in the sector Nostra Terra (LON:NTOG) said it had kicked off production at its first Warrior well in Oklahoma. It should become stable at around 50 barrels of oil equivalent per day, the firm told investors. Also, drilling has finished on the first and second wells at Nostra Terra’s Bale Creek project.
Meanwhile among the blue-chips drug maker GlaxoSmithKline (LON:GSK) and supermarket retailer Sainsbury (LON:SBRY) provided the most notable stories of the day, with each firm buying in new businesses.
The former has agreed to acquire a eczema drug, already available in 14 countries and being trialled in the United States. The deal is worth up to £196 million.
Sainsbury meanwhile will enter the e-book business as it is buying a controlling stake in Anobii, an online and social network retail platform, from HMV.
Back on AIM, three gold explorers had news from three corners of the world.
Chaarat Gold (LON:CGH) said that it has found seven new targets, near known mineralisation, at its Clontash project in Kyrgyzstan.
And South America focussed Condor Resources (LON:CNR) unveiled drill results from the La India project that demonstrate wider zones of high grade gold than seen in the historic mine.
Meanwhile in Africa, Aureus Mining (LON:AUE) revealed exploration results from the Leopard Rock and Gondoja projects within its Bea Mountain licence in Liberia. These projects are being explored near Aureus’ mine development project – the New Liberty gold mine.
Recycling zinc producer ZincOx (LON:ZOX) said today that it has banked its first revenues from its new plant in Korea.
In Canada, Rambler Metals & Mining (LON:RMM) was also provided details of its early production efforts – from its recently establish gold operation at the Ming copper-gold mine. It said it has produced and sold 14,500 ounces of gold since November and as a result banked over C$24 million.
In AIM’s technology sector there was news from Anturion (PLUS:ATNP), a specialist in green technology. It said its prospects have been enhanced significantly by two deals.
It explained that an agreement with Norwegian firm Sensonor to develop a thermal imaging sensor “adds a significant new leg to the business”, while a deal with New Jersey-based Jexpress will bring on board a distribution partner prepared to invest £1.3 million.
Specialist manufacturer of GPS antenna’s Sarantel (LON:SLG) revealed a 9 per cent lift in production revenues in its first half. The company says it is ‘beginning to see the fruits of our labour’ as orders from military clients are starting to flow.