Harbour Energy (HBR) shares sees more relief and move 6.06% higher to 364.2p
Shares in Harbour Energy saw relief despite recent delays. In recent weeks, the production of first gas at the Tolmount field was postponed by the London-listed company following an electrical issue discovered during the platform’s final commissioning and testing.
At the time, the company said the problem with electricity is being studied, and that plans are being developed to fix it. Due to the current uncertainty around the timing of Tolmount start-up, the Company revised its production guidance for the coming year.
As a result, Harbour's 2021 revised production guidance is now 185 to 195 kboepd on a proforma basis and 170 to 180 kboepd on a reported basis. Meanwhile, forecast full year operating costs of US$15-16/boe and total capex of US$1.1bn remain unchanged.
Open Orphan (ORPH) shares jumped 18.07% to 24.5p as hVIVO signs £8m contract
Open Orphan announced that its subsidiary hVIVO has signed an £8.1 million contract with a major global pharmaceutical firm to test its inhaled human rhinovirus antiviral product.
It said the bulk of the revenue from this contract is to be recognised across 2021 and 2022. Under the terms of the agreement, hVIVO will test the antiviral product using its asthma human challenge study model, which uses a hRV challenge agent (common cold virus).
This antiviral study will be conducted by hVIVO and is expected to commence 1H22. In a research note, analysts at Arden Partners said the contract win reflects “the increasing value and breadth of challenge study contracts that the Group is pursuing and winning.”
In our view, the stock’s sharp pullback in recent months represents a strong buying opportunity when considering the ongoing COVID and related infectious diseases issues.”
Edenville Energy (EDL) shares jumped 16.07% to 32.5p as it secures coal orders in Tanzania
Edenville Energy confirmed that it had received an order of up to a possible 3,500 tonnes per month of washed coal which is expected to result in an average monthly delivery of at least 2,000 tonnes per month, with deliveries commencing at that level next month.
It expects to sell around 2,000 tonnes of washed coal next month, with sales rising towards 3,000 tonnes a month over the next few months, without including any more orders.
In regard to its Rukwa Coal Project in Tanzania, Edenville said there has been considerable positive sentiment, “which appears to be translating into business confidence and action.”
In addition, the Company stated that the current increase in the steaming coal price, which has more than doubled over the past 12 months, to its current level of in excess of US$130 per tonne (August 2021 price for South African Richards Bay FOB), is bringing Rukwa production into focus, particularly from potential customers in other East African states.
Jubilee Metals Group (JLP) shares rose 14.20% to 15.6p as it looks to expand its capacity
Today, the Group announced that it had executed a binding memorandum of understanding with Mopani Copper Mines, a subsidiary of Zambia- based firm ZCCM Investment Holdings.
This will allow for the implementation of more copper and cobalt refining capacity through the recapitalisation of existing refining capacity placed under care and maintenance by Mopani.
The additional refining capacity targets to increase Jubilee's existing copper refining capacity by a further 17 000 tonnes of copper per annum and, together with the Sable Refinery, increases its total potential refining capacity to in excess of 31 000 tonnes per annum.