12th Oct 2023 16:14
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:
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ACG Acquisition Co Ltd - special purpose acquisition company focused on new economy metals and other mining materials - Says it will cease all operation, except those for the purposes of winding up. Adds that shareholders will have shares automatically redeemed, with payment no later than October 26. Notes that it is in discussions with co-sponsors and investors regarding a possible extension to its operations, but warns no assurance of an agreement can be given.
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88 Energy Ltd - Subiaco, Western Australia-based oil and gas company - Says mapping works at its Icewine West project shows "strong potential" for prospective resources. Adds that it intends to begin its farm-out of CY2024 in Leonis, with a view to new drilling in 2025 and 2026. Says it expects a maiden resource estimate for Leonis's USB reservoir in the first quarter of 2024. Notes that a flow test is planned for its Phoenix project, and is set to begin in the first quarter of 2024. Managing Director Ashley Gilbert says: "While our focus is firmly on Project Phoenix, including the upcoming flow testing of Hickory-1 in early Q1 2024, we have also been busy across our broader Alaskan North Slope portfolio. Building on the Hickory-1 drilling success, we are re-evaluating the neighbouring Icewine West potential considering lessons learnt from Hickory-1 and recent near-field results from other operators. We also continue to advance Project Leonis with a view to preparing a maiden prospective resource estimate ahead of targeted farm-out next year and potential drilling of a new well early in the 2025/26 winter season."
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HydrogenOne Capital Growth PLC - fund investing in clean hydrogen - Says portfolio company Cranfield Aerospace Solutions Ltd announces new route to market for hydrogen fuel cell propulsion system with cargo drone airline Dronamics. Says it has signed a deal to apply the system to Dronamics's Black Swan cargo drone aircraft, including a letter of intent for the supply of a "substantial" number of systems from 2026. Says research shows the system is well-suited to the required payload, cargo volume and range for the drones. Cranfield Chief Executive Paul Hutton says: "The selection as preferred supplier of hydrogen fuel-cell powerplants for the Dronamics Black Swan fleet is testament to the exceptional technology that our team has developed and also to our aircraft integration design capabilities."
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By Harvey Dorset, Alliance News reporter
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