(MENAFN- ProactiveInvestors)The Horse Hill discovery well near Gatwick airport has flowed light oil to surface from the one of the intervals within its deeper hybrid oil zone. An initial instantaneous flow was measured at a rate of 700 barrels per day from the Lower Kimmeridge limestone interval before a subsequent seven hour test period measured a flow rate of 463 barrels of oil per day. The flow during the seven hour test comprised 99% oil. Shares in operator UK Oil & Gas (LON:UKOG) and Solo Oil (LON;SOLO) climbed on the news. In other news Motive Television (LON:MTV) has made its TabletTV product available on the new Apple TV platform in the United States. Meanwhile mobile billing specialist Zamano (LON:ZMNO) has appointed Fergus Scully to the board as a non-executive to replace Peter Furlong. Scully a corporate financier is currently managing director of Heritage Capital Limited a privately owned investment business and chief financial officer of Irish property investor Investi. Over in mining SolGold (LON:SOLG) said its latest drill findings support the view that the Alpala deposit at the Cascabel copper project in Ecuador can be extended southeast. The firm started to see "significant visible copper" containing porphyry style stockwork veining. Coloured stones specialist Gemfields (LON:GEM) appears to have avoided the 'challenges' seen in the diamond sector with all parts of the business recording a strong performance. For its second quarter output from the flagship Kagem mine was up strongly while costs on a per carat basis fell significantly. Additionally resources investment company Metal Tiger (LON:MTR) exercised its option to buy-out its former joint venture partner in Thailand South East Asia Mining (SEAM). Metal Tiger will offload a 10% interest to a local Thai operating company leaving Metal Tiger with 90% of the assets of its former joint venture with SEAM. Over at commercial airline lessor Avation (LON:AVAP) it bought five new short haul ATR72-600 turboprop aircraft and taken out an option over a further ten. The five aircraft purchased are scheduled to be delivered in 2017 and 2018 with the option planes in subsequent years up until 2023. And finally San Leon Energy (LON:SLE) has lost its appeal in its dispute with Avobone over assets in Poland. In May last year the International Chamber of Commerce ruled San Leon subsidiary Aurelian had to pay £13mln to Avobone its former partner related to the prospect at Siekierki.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.