Small caps round-up: GeoPark, Kiwara, Cashbox,...

21st Oct 2009 13:16

Latin American oil and gas exploration and production company GeoPark gained after announcing the successful drilling and testing of a new discovery oil well - Yagan Norte 1 - in the Tobifera formation on the Fell Block in Chile. GeoPark drilled and completed the Yagan Norte 1 well to a total depth of 3,161 meters. A production test in the Tobifera formation, at about 3,077 metres in a 10 metre perforated interval, flowed at a rate of around 610 barrels per day (bpd) of oil. Chief executive James F. Park said: 'The discovery of oil in the Tobifera from the Yagan Norte well is not only important because of its near term positive impact on production, revenue and reserves, but also because it opens up a potentially new play and exploration dimension on the Fell Block in Chile.'Zambian-based Kiwara said its in-fill drill programme at Kalumbila continues to report thick intersections of copper at or above base model grade.'I am pleased that these results confirm such continuity and also show good widths of significantly higher grade than the base pit model. We are continuing to aggressively drill the pit area with a view to optimisation and possible extension, which these results appear to support,' said chairman Colin Bird.Cashbox has negotiated a two year agreement to advertise China Unionpay,which will see it will place Chinese (Mandarin) language stickers on its nationwide estate of ATMs, alerting China Unionpay cardholders to the fact that their cards will be accepted for use in those machines in the UK.Xploite has launched a tender offer to purchase up to 19m shares (46.57%) at 50p per share. The return of cash follows the sale of VBHG for £31.5m.Statpro, the developer of investment portfolio analysis software, said trading in the first nine months of 2009 has been ahead of the corresponding period of last year, with the company's contract renewal rate remaining above budget.'Our pipeline of new prospects remains strong, market conditions in the fund management sector are stable and as a result we remain confident for a successful outcome for the year,' the company said.Asia-focused oil and gas company Salamander Energy said the buyer of gas produced from Salamander's Kambuna field off the coast of North Sumatra is now ready to start receiving supplies again. Deliveries had been suspended pending rectification of a fault with the buyer's turbines at its Belawan Power Plant.Car manual publisher Haynes said its founder and chairman, John Haynes, is to step down after 50 years behind the wheel at the company. He will remain a director of the main board.He will be succeeded as chairman of the board by the current vice-chairman, J H C Haynes.