Caspian Sunrise PLC (LON:CASP) saw its shares fall 24% in late afternoon trading to 10p after an operational update revealed unsuccessful attempts to clear well obstructions and adverse weather conditions delaying production.
The company said attempts to clear an obstruction at its Deep Well A5 in the BNG Contract Area had been unsuccessful and the company was now seeking to acquire a permit for coil tubing equipment to clear the obstruction, with permitting expected to be finalised by the end of March.
Caspian also said that spudding for its Deep Well A8 had been rescheduled to the second quarter of 2018 following adverse weather conditions in the area for most of the first quarter.
Meanwhile, maritime services company Ocean Wilsons Holdings Limited (LON:OCN) saw its shares climb 5.6% in late afternoon trading to 1,125p after it reported a 24% increase in pre-tax profits to US$145.5mln in its final results.
However, in its outlook the company said the Brazilian offshore oil and gas market would face another challenging year in 2018, and that the company was exploring alternative revenue streams as demand for offshore vessel hire and new vessel construction was being dampened by market over-capacity.
Weatherly International plc (LON:WTI) shares tumbled 18% to 1.48p in mid-afternoon trading after the company warned that it was unable to meet loan repayments despite narrowing interim losses driven by exceptional copper production levels in Namibia.
For the six months ended 31 December 2017, the miner reported losses of US$5.9mln, compared to a loss of US$11.3mln the year prior.
Elsewhere, insurer GBGI Limited (LON:GBGI) saw its shares plummet 11% to 127.5p in mid-afternoon trading after the company said it expected a net reduction in profitability following a devaluation of the Angolan Kwanza (AOA) currency and a decision to transfer the company's risk book and operations to a local partner in Angola.
The company added the local partner would pay GBGI US$17.5mln in AOA over the next three years, with the first payment commencing in April 2018.
Meanwhile, RedT Energy PLC (LON:RED) shares climbed 10% to 6.5p in mid-afternoon trading as the company announced its 3rd Generation (Gen 3) cell stack had completed design prototyping.
The energy storage company said it was now engaged with a Tier 1 global manufacturing partner and expects to deliver its Gen 3 product in the second half of 2018.
RedT added that it was in late stage negotiations with a number of customers and expected its first Gen 3 pre-orders to be announced shortly.
Thor Mining PLC (LON:THR) saw its shares leap 9% in lunchtime trading to 3p after the company reported higher grade cores at its Kapunda copper project, with an average grade of 0.25% and an inferred resource estimate of 47.4mt.
Analysts at SP Angel said: "The identification of a higher grade core at Kapunda appears positive for the project, however, the resource remains "inferred" at this stage and will no doubt need further work to upgrade it. We assume, however, that such work will qualify towards Thor Mining's earn-in of a 45% interest."
Meanwhile, Anglo African Oil & Gas Plc (LON:AAOG) shares jumped 8% in lunchtime trading to 14.8p after the company said its subsidiary, Petro Kouilou, had finalised a contract with oil services company Schlumberger Limited (NYSE:SLB) to supply support services for the drilling of the new TLP-103 well at the Tilapia oil field in the Lower Congo Basin.
The oil and gas developer said the agreement will cover services including mud logging, drilling bits, and casing accessories for the drilling project which is scheduled to start in June 2018.
Kemin Resources PLC (LON:KEM) shares spiked higher in late morning trading, up 13% to 2.15p after the miner confirmed the presence of a 'significant amount of high quality lithium' at its Drozhilovskoye ore field in Kazakhstan.
The AIM-listed company also said that its latest drilling and analysis work had confirmed that tungsten and molybdenum minerals are isolated, and can be selectively mined, in addition to the presence of lithium.
Meanwhile, Michelmersh Brick Holdings Plc (LON:MBH) shares jumped 7.7% higher to 84p after the brickmaker posted an increase in its full-year underlying earnings (EBITDA), driven by its acquisition of the Carlton plant.
Michelmersh said underlying EBITDA for the year had risen by 42% to ?8mln as revenue climbed 26% higher to ?37.9mln.
Accrol Group Holdings PLC (LON:ACRL) shares plunged 57% to 12p in early morning trading after the toilet paper maker said it is likely to breach banking covenants as it warned of a greater than expected full-year adjusted underlying loss (LBITDA) due to increased costs.
In a trading update, the AIM-listed group said it expects to report an LBITDA of around ?5mln for the financial year ending April 30, a turanround from underlying earnings (EBITDA) of ?16.1mln the year before
Micro Focus International PLC (LON:MCRO) shares dropped 39% to 1,148p after it said chief executive Chris Hsu will step down as the software company cut its revenue guidance due to lower-than-expected licence income.
Hsu has submitted his resignation in order to spend more time with his family and pursue another opportunity. He will leave with immediate effect and will be replaced by Stephen Murdoch, who is currently the chief operating officer.
The company now expects revenue for the year ending October 31 to fall between 6% and 9%, down from its previous guidance for declines of 2% to 4%. Revenues were hit by problems stemming from its purchase of Hewlett Packard Enterprise software assets in September 2017.
Thor Mining PLC (LON:THR) turned in a loss before tax of ?540,000 during the six months to December 2017, and ended the calendar year with ?1.3mln in the bank, following a series of successful fundraisings. Thor has also revealed the existence of a high-grade zone at the centre of the Kapunda copper project in Australia, where an in-situ leaching project is planned.
Michelmersh Brick Holdings Plc (LON:MBH) posted strong annual results as a first meaningful contribution from recent acquisition Carlton coincided with a strong market for premium bricks. Carlton cost ?31.2mln in June and was largely behind the 26% jump in revenue to ?37.9mln in 2017. Organic growth was 3%.
Columbus Energy PLC (LON:CERP) announced that it has successfully restructured the Beach Oilfield Limited (BOLT) transaction in the South West Peninsula of Trinidad on materially improved terms. The AIM-listed oil and gas producer and explorer focused on onshore Trinidad with the ambition to grow in South America also said it has entered into an agreement for lease with Singh's (Cedros) Estates Limited to gain long-term access to the South West Peninsula for oil and gas operations, including the Bonasse oilfield.
Clinigen Group PLC (LON:CLIN) has been appointed by US-listed drug developer Jazz Pharmaceuticals (NASDAQ:JAZZ) to provide access to the latter's leukaemia treatment. Clinigen specialises in managed access programmes which provide medicines to people in need where the product does not have regulatory sign-off in the local jurisdiction.
Motif Bio Plc's (LON:MTFB, NASDAQ:MTFB) chief medical officer, David Huang, will deliver a presentation outlining the potential of its next-generation antibiotic at an important New York healthcare event. The company has driven iclaprim to verge of regulatory approval after completing two successful phase III clinical trials. Huang will provide his insights at a break-out session at the Oppenheimer 28th Annual Healthcare Conference called Superbugs & Superdrugs.
WideCells Group PLC (LON:WDC) has announced that its 100%-owned stem cell storage and research division WideCells Ltd has been granted a government-backed Innovate UK Knowledge Transfer Partnership with Manchester Metropolitan University to undertake research on a new form of stem cell technology.
Asia-focused investment company Adamas Finance Asia Limited's (LON:ADAM) new management team has made its first investment. DocDoc fits the new investment remit of pan-Asian income producing assets with capital gain potential said Harmony Capital, which took over in May 2017 and that up to now has been trimming the portfolio.
E-learning specialist Learning Technologies Group PLC (LON:LTG) said current trading is ahead of expectations. It is the second time this year the company has raised guidance; in January the group advised the market that earnings would be "materially ahead of market expectations at not less than ?14mln" and so it proved, with EBIT coming in bang on ?14mln, up from ?7.0mln the year before.
Telit Communications Plc (LON:TCM) announced that it has been informed that the first level tax court in Italy has rejected appeals filed by the firm against penalty deeds issued by Italian tax authorities in August 2015. In a statement, the AIM-listed Internet of Things (IoT) enabler said it intends "to appeal and to vigorously defend its position and has been advised that its position in this matter remains strong."
NetScientific PLC (LON:NSCI) has said its portfolio company, Wanda Health, is expanding into orthopaedics through a new partnership with HRS Home Health (HRS). The AIM-listed healthcare IP commercialisation group said the partnership would bring Wanda's specialities in predictive analytics and artificial intelligence (AI) to bear on orthopaedics.
CentralNic Group PLC has secured the distribution contract for the Top Level Domain (TLD) '.ooo' from Infibeam Incorporation Limited. The global software platform company said the '.ooo' registry business placed Infibeam in a strong position as an affordable alternative to '.com' domains and is tailor-made for large-scale usage in existing and emerging markets.
Hummingbird Resources PLC (LON:HUM) is now achieving gold recoveries consistently above 96% from its Yanfolila mine in Mali. Nearly 17,000 ounces of gold have been produced from the mine, since production began in December.
Scotgold Resources Ltd (LON:SGZ) has signed up South African explorer PanEx as an earn-in partner on the Pomar licence in Portugal. If PanEx elect to take project through to feasibility Scotgold will be left with a 20% interest in a potentially viable project. Scotgold's focus remains on Cononish and the Scottish gold assets.
Oil and gas drilling services provider ADES International Holding Ltd (LON:ADES) expects to deliver continued organic growth in 2018 after a solid performance in 2017. Revenue in 2017 rose 17.5% to US$157.6mln from US$134.1mln in 2016.
Metal Tiger PLC (LON:MTR), the AIM-listed investor in strategic natural resource opportunities, announced on market purchase of a further 1,412,915 shares in MOD Resources Limited (ASX:MOD) for a total of A$66,478. The group said it currently holds 130,912,915 MOD shares representing 6.049% of the issued share capital.
Metminco Limited (LON:MNC) (ASX:MNC) announced the resignation of Ram Venkat as a non-executive director, effective from 19 March 2018. The group added that Venkat said he has resigned in order to allow the company the opportunity to refresh its board in line with the proposed capital raising transaction. It said he will continue to consult to the company through to August 2018.
Falcon Media House (LON:FAL), the global digital media group focused on the OTT video market, announces the retirement of Richard Baker and Edgar Wallner as non-executive directors with immediate effect.
Harvest Minerals Limited (LON:HMI), the AIM listed fertiliser producer, announced that David Burton has unexpectedly resigned as a director of the company for personal reasons.