The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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SDX Energy PLC - London-based oil and gas company which operates in the Middle East and North Africa - Announces it is partnering with Aleph New Energies to explore and develop projects in the alternative energy sector. As part of the partnership SDX and ANE will work together to provide technical and commercial support to identify and develop projects; additionally, ANE will provide the financing for such projects.
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Oxford BioDynamics PLC - Oxford-based biotechnology firm focused on discovery and development of epigenetic biomarkers - Announces that it has been granted the FNIH Partnership for Accelerating Cancer Therapies Award to reduce to practice the EpiSwitch test for prognosis of acute adverse response to immune checkpoint inhibitor therapy associated with IO-triggered Hyper-Progressive disease. Adds the award is worth $963,000.
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IOG PLC - UK-focused developer of offshore gas - Reports steady progress towards resolution of Blythe H2 drilling issues highlighted on April 18. Hopes to be onstream by end of the second quarter and production is then expected to build up to 30 million to 40 million standard cubic feet per day. Sees an additional cost impact of £2million to 3 million. Further, reports nine 33rd round licence applications are also progressing, potentially adding discovered resources to existing production clusters.
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Knights Group Holdings PLC - Newcastle-under-Lyme, Staffordshire-based legal and professional services firm - Agrees to acquire St James Law Ltd, a Newcastle-based commercial law firm for £1.75 million, and Baines Wilson LLP an independent law firm headquartered in Carlisle for £3.37 million. Expects acquisition of St James Law to be immediately earnings enhancing. Both deals will be satisfied from existing resources.
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Zephyr Energy PLC - oil & gas exploration and development company in the Rocky Mountains in the US - Updates on its hedging programme related to oil production from its non-operated asset portfolio in the Williston Basin, US. Elects to enter into additional oil hedge agreements. Says volumes hedged for the nine months ended December 31 have increased from 94,000 barrels to 137,000 barrels, with BP continuing to serve as the counterparty. Notes the programme has been structured to provide cashflow surety related to the company’s debt obligations, as well as to derisk funding requirements for the flagship project in the Paradox Basin, Utah, while allowing for additional exposure to future fluctuations in prices.
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OKYO Pharma Ltd - UK-based ophthalmology-focused bio-pharmaceutical company which is developing OK-101 to treat dry eye disease - Announces the first patient has been screened for its phase 2, multi-center, randomized, double-blinded, placebo-controlled trial, evaluating the efficacy and safety of OK-101 ophthalmic solution in subjects with dry eye disease. Says trial marks a ‘significant step’. Notes the drug and placebo will be administered in both eyes twice daily for 12 weeks. Adds the duration of a patient’s treatment will be approximately 14 weeks, including a 2-week run-in period and 12 weeks of treatment.
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