Oil & Gas Corporate News
San Leon Energy (LON:SLE) (BUY, £0.80) (SLE, 16.75p, ? (0.0%)) announced that it has conditionally placed 22,499,994 shares at a price of 14p per share to raise gross proceeds of approximately £3.15 million for the Company from a number of institutional and other investors through Fox-Davies Capital Limited and Arbuthnot Securities Limited. The net proceeds of the Placing will provide San Leon with the additional capital and support to continue to carry out the Company's exploration and development programme across its portfolio of projects in Poland, Ireland and Morocco.
Salamander Energy Plc (LON:SMDR) (SMDR, 250p, ? (2.38%)) announced that the Bang Nouan-1 exploration well in the Savannakhet PSC, Lao PDR has been plugged and abandoned. The Bang Nouan-1 exploration well was completed on 6 May 2010. A drill stem test (DST) programme was completed between 30 July and 3 August 2010 on the secondary objective Kuchinari sandstones between an interval of 45m between 2025m and 2070m MDBRT. No significant flow of hydrocarbons was observed and an injectivity test has confirmed that this tight formation would not readily respond to fracture stimulation to achieve a commercial flow rate. Following the completion of the DST, the well has been plugged and abandoned as a dry hole and the work-over rig brought in to conduct the test will shortly be demobilised.
Mining Corporate News
Western Coal Corp (WTN, 266p, ? (1.14%)) announced that relation to the acquisition of Energybuild Group Plc (LON:EBG), the Company confirms that as at close of business on 8 June 2010, it had 264,236,557 shares in issue (excluding 72,122,826 Western Shares owned by Cambrian Mining (LON:CBM) Ltd, a wholly-owned subsidiary of Western) (ISIN reference number CA95801T1075). The number of shares in issue in the Company has not changed since then. In addition, the Company has in issue 1,330,000 warrants to purchase common shares at a price of CA$0.75 per share, all of which are held by Audley European Opportunities Master Fund Limited.
Eurasian Natural Resources (ENRC, 939.5p, ? (0.05%)) announced that total ferroalloys production for the three months to June 30 rose 40% to 465,000 metric tons compared with 332,000 tons during the same period a year earlier. Ferrochrome production was up 30% at 358,000 tons, slightly below Credit Suisse's forecast of 361,000 tons of ferroalloys production for the second quarter. ENRC's ferroalloys division…
