Small cap round-up: Matra, Strategic Natural, SWP...

17th Mar 2010 12:48

Losses at Matra Petroleum in 2009 reduced to €2.3m from €8.7m. Results of the A-13 well are expected in May and these will help us define the extent of the Sokolovskoe development. Operational difficulties have caused minor increases in the expected well costs from $4.5m to $4.85m, the company remains well funded to complete the well for its operational commitments for 2010. We expect to embark upon the field development during the second half of 2010, Matra added.Online banking systems group Neovia's total revenues declined from $75.9m in 2008 to $64.5m in 2009 with the loss after tax for 2009 $9.8m (2008: $8.1m). "The fourth quarter of 2009 saw stronger performance for both the e-wallet and NETBANX businesses compared to the third quarter, and revenue for the first two months of 2010 was in line with management's expectations," it added.Strategic Natural has conditionally placed 19.2m new shares at 15p, raising about £2.7m. The cash will be used to fund the development and commercialisation of mining assets in the Eastern Cape in South Africa and repay a short term facility incurred to repay a working capital loan to Elitheni Coal. All the directors, who directly and indirectly own 33.2% of the company, took part in the placing.Interim profits soared at mini-conglomerate SWP to £1.2m from £452,000 despite slightly lower turnover of £12.4m. "Notwithstanding the disappointing economic outlook in general the current period has started strongly and together with the results posted for the first half the board is confident that we will deliver very positive results for the financial year to June 2010," it added.Shares in oil and gas firm Aminex jumped after it announced that identified several potential oil and gas bearing intervals in its Olympia Minerals-1 well at Shoats Creek, Louisiana (OM-1).Aminex said the well reached total measured depth of 9,508 feet MD (2,898 metres MD) and that wireline logs have identified several potential oil and gas bearing intervals in Cockfield sands between 8,200 and 9,335 feet. "OM-1 is the first new well to have been drilled by our US subsidiary as operator for several years, encountering the Cockfield sands exactly as anticipated," said chairman Brian Hall.Akers Biosciences has licensed the exclusive sales, marketing, and distribution rights to its BreathScan product line in the UK and Republic of Ireland, to BreathScan International (BIL) for a period of five years.London-based BIL will also have a non-exclusive right to develop opportunities internationally, outside of North America. In return for the licence, Akers Biosciences will receive a 20% stake in BIL. Gold producer Avocet Mining dropped after it swung to a pre-tax loss of $10.56m in the nine month ended 31 December compared with a profit of $31.57m last time.On a pro forma basis, profit before taxation and exceptional items fell to $7.89m from $12.45m previously.