Small caps round-up: Caza Oil & Gas, eg solutions, Hardy Oil and Gas...

21st Dec 2010 09:59

Shares in Texan energy firm Caza Oil & Gas fell Tuesday morning after the group announced that the Marian Baker #1 well - in which it holds a 25% working interest before casing point - is waiting longer than anticipated to receive the Nabors Rig 4 from its drilling contractor Nabors Drilling USA. Caza notes that site preparations are now complete but it is waiting for the rig to finish operations at its current location. The group expects the well to spud in mid January.Back office software group eg solutions has won a £577,000 contract from the UK branch of one of the world's largest banks, for supplying its data capture and reporting modules of business performance measurement software, Nuqleus 3D.The software will be supplied to 1,500 users and the contract has a licence revenue of £326,000 which will be earned in the year ending 31 January 2011. eg has secured £1.4m of orders for Nuqleus 3D since March.India-focused Hardy Oil and Gas has commenced drilling of the second exploration well on the 11,605km2 D9 exploration licence on the East Coast of India, in which it holds a 10% participating interest.Trakm8 saw shares jump 22% Tuesday after the vehicle telematics equipment supplier reported a return to revenue growth in its first half. Revenue for the period was £1.72 compared with £1.71m last year, as the acquisition of Vincotech telematics products in September expanded its portfolio of hardware options.Pre-tax profit increased from £0.1m to £0.16m and basic EPS grew to 86p from 57p previously. The group also announced that recent order entry has given it confidence that revenues and profits will continue to increase.Insurance broker Cobra lifted profits in the half year to 30 September as it focused in improving operational efficiencies in recent acquisitions. Pre-tax profits climbed by 27% from the previous year to £230,000 on total revenues that rose by 2% to £11.98m.