UK SMALLCAP ROUNDUP: Falkland Oil & Gas's Well Disappoints

12th Jul 2010 09:30

Dow Jones smallcap news is now on Twitter, allowing you to catch up on the news away from your desk. Go to http://twitter.com/DJ_UK_Smallcaps FALKLAND OIL & GAS LTD. (FOGL.LN), an oil explorer, Monday said it plugged and abandoned the Toroa well after failing to find any oil. The well, offshore the Falkland Islands, was drilled to almost 2,500 meters but hydrocarbons weren't found, the company said. At 0751 GMT, shares -86.5 pence, or 43%, at 115.25 pence. AVANTI COMMUNICATIONS GROUP PLC (AVN.LN), a broadband-by-satellite company, said it raised GBP70 million through a placing which will fund its third satellite and repay bank loans that financed its first satellite. At 0751 GMT, shares +7.5 pence, or 1.5%, at 502 pence. IMMUNODIAGNOSTIC SYSTEMS HOLDINGS PLC (IDH.LN), a diagnostic company, increased its dividend 21% after booming sales of its vitamin D tests meant fiscal-year profit more than doubled. The company added Chief Executive Roger Duggan will stand down in October and will be replaced by Chief Operating Officer Ian Cookson. At 0751 GMT, shares flat at 745 pence. WILLIAM RANSOM & SON PLC (RNSM.LN), a maker of natural health products, said it has agreed to sell its loss-making Italian operations for GBP45,000 cash and has signed a new distribution agreement for its products in Italy and other territories. At 0750 GMT, shares flat at 5.13 pence. ANGEL MINING PLC (ANGM.LN), a gold, zinc and lead explorer, said it agreed a $4.5 million loan that will enable it to begin full production at its Nalunaq gold project. Angel Mining added it is in talks with a third party about a debt facility of up to $100 million. Such a facility would enable the company to resolve its default and clear its existing loans, Angel Mining said. At 0750 GMT, shares -0.75 pence, or 12%, at 5.75 pence. HENDERSON MORLEY PLC (HML.LN), a biotechnology company, said it is in talks with its chairman about fresh funding to keep it going while it completes a deal to sell its anti-viral technology. At 0750 GMT, shares -0.001 pence, or 2.6%, at 0.19 pence. ENTERTAINMENT ONE LTD. (ETO.LN), a film and television producer, said the third installment of its Twilight Saga series of films has had the strongest U.K. box office opening of any film released so far this year. At 0749 GMT, shares +1 pence, or 1.3%, at 77 pence. DOMINO'S PIZZA UK & IRL PLC (DOM.LN), a pizza delivery company, posted an increase in first-half profit as sales got a boost from poor spring time weather and the soccer World Cup, but the group said it faces some "very tough" comparatives in its second half. At 0749 GMT, shares +0.3 pence, or 0.07%, at 403.3 pence. WEATHERLY INTERNATIONAL PLC (WTI.LN), a copper miner, said it signed a preliminary agreement with East China Mineral Exploration and Development Bureau to jointly develop Weatherly's Berg Aukas lead and zinc project in Namibia. The company said it signed a letter of intent with East China Mineral Exploration and Development Bureau to form a new company focused on Berg Aukas and float it on London's junior Alternative Investment Market. At 0749 GMT, shares flat at 3.33 pence. FIRESTONE DIAMONDS PLC (FDI.LN), a diamond miner, said it began mining operations at its BK11 mine in Botswana. The start of operations follows the granting of a mining license for the project. At 0748 GMT, shares +1.5 pence, or 4.1%, at 37.75 pence. DJ UK Smaller Cos +0.01% AIM flat -By Jason Douglas, Hannah Benjamin and Rachael Gormley, Dow Jones Newswires; +44 (0) 20 7842 9272; [email protected] (END) Dow Jones Newswires July 12, 2010 04:30 ET (08:30 GMT)