Matra Petroleum (MTA, 5.425p, ? (1.36%)) announced that drilling has recommenced on appraisal well-13 on the Sokolovskoye field in Russia. The section of hole containing the Nitrogen and loss circulation zones has now been successfully completed and was logged, cased at 1799m and cemented. The anticipated total depth is 3850m with prospective zones below 3300m.
Empyrean Energy (EME, 7.25p, ? (6.45%)) announced it has conditionally raised £1,500,000 before expenses, through an institutional placing of 25,000,000 new ordinary shares at a price of 6p per ordinary share. Proceeds from the raising will contribute towards further development at the Riverbend, Hercules and Sugarloaf projects in Texas, USA and Eagle Oil project in California, USA and for general working capital.
Mining Corporate News
Serabi Mining (SRB, 1.67p, ? (0.0%)) announced that, in accordance with its 2010 exploration work programme the initial follow-up ground-induced polarisation ("IP") geophysical survey at the Company's Jardim do Ouro project in Para, Northern Brazil commenced in mid-March. This is the next stage of a systematic exploration programme with the objective of building Serabi's resources to 1.5 million ounces through the identification of satellite ore deposits in close proximity to its Palito gold mine.
