Small caps round-up: Healthcare Enterprise, Dragon Oil, Phoenix IT

7th Apr 2010 11:49

Shares in Healthcare Enterprise jumped after the healthcare group reported that one of the companies in which it has shares has been given formal approval to sell an artificial insemination device in the US.Reproductive Sciences, which is 27% owned by Healthcare Enterprise, said the US Food and Drugs Administration has approved the sale of Fertiligent, a device that seeks to mimic the way conception occurs naturally by introducing the sperm into the uterus over a period of several hours.Dragon Oil, which has interests in the Caspian Sea, has dropped plans to shift its domicile from Ireland to Bermuda. In a statement, chief executive Abdul Jaleel Al Khalifa said it made the decision after an extensive additional review of the advantages and disadvantages of such a process and determined that Ireland remains an attractive jurisdiction for the holding company of the group. Phoenix IT says trading and cash generation for the year to 31 March 2010 are in line with the Board's expectations. Net debt (including finance leases) reduced as anticipated to £67.9m.Europa Oil & Gas posted a net loss of £777,000 for the year to 31 January. Revenues fell to £1.4m from £1.7m. "The coming six months will see significant progress on the UK production projects with a target production stream of 500 bopd from the East Midlands by late 2010. In Romania and France, as described below, the Company holds large gas resource potential which it is hoped can be booked into the pre-development contingent category during the year," Europa said.Shares in central Asian oil and gas company Roxi Petroleum advanced after an operational update. The company reported progress across its assets. Chief executive David Wilkes said: 'I am particularly pleased that we are selling our first oil from BNG [in Kazakhstan], with the likelihood of sales from four assets by July.'Shares in Irish infrastructure and utilities services group Siteserv jumped after it said it has signed a contract worth up to €60m to become the sole services provider for the installation, maintenance and testing of domestic boilers and a range of energy efficient products and services to energy provider Bord Gáis. Berkeley Minerals, a company engaged in the reprocessing of tailing dumps at Kabwe in Zambia, is settling debts worth £0.56m with a number of creditors through the issue of 28.17m new ordinary shares. Russian precious metals miner Eurasia Mining had good news for shareholders on Wednesday as it provided an exploration update on its drilling programme on the Kola Peninsula in north-west Russia.The company said that it expects to progress work on the Monchetundra licence in 2010 to the stage that will support an application for a licence extension. Ultimately the company seeks to convert an exploration licence to a production licence.