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Proactive news highlights: Featuring Mirada, LGO Energy and Europa Oil & Gas

Mirada’s pipeline continues to grow; LGO sees its reserve and resource estimates rise; Europa has some positive news and its recently acquired licences; plus much more…
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Digital TV specialist Mirada Plc (LON:MIRA) continues to grow its pipeline and it is targeting reaching positive free cash flow for the year to end March in 2017.

The relationship with its largest customer - the Mexican Televisa Group - continues to develop as the group integrates products across the network.

This helped build a 6% increase in revenue to £6.02mln in the year to end March, compared to £5.66 million in the same period in 2015.

Elsewhere, an annual assessment has bolstered LGO Energy Plc’s (LON:LGO) crude oil reserves for the Goudron field, in Trinidad, where the company is continuing a cost-effective development.

The review has been carried out by Deloitte, and it sees reserve and resource estimates rise.

Proved and probable (2P) reserves now stand at 11.79mln barrels, representing a 4% rise from last year, meanwhile, oil-in-place estimates for the field now amount to 975mln barrels which is a 21% increase on the prior estimate.

Fellow oil and gas firm Europa Oil & Gas Holdings Plc (LON:EOG) has revealed new estimates for several exploration targets, each seen between 300mln and 1bn barrels, in its recently acquired acreage.

Licensing Option 16/19 was awarded to Europa in Ireland’s latest licencing round, and the highly prospective acreage is now being rolled into an ongoing farm-out process alongside an adjacent area.

A deal with Caterpillar Inc. (NYSE:CAT) helped safety monitoring technology group Seeing Machines Limited (LON:SEE) to report higher annual revenue..

Seeing Machines forecast pre- and post-tax trading for the full year to June 30 in line with market expectations, with revenue for the year of A$33.6m.

That was 77% higher than the previous financial year's total revenue of A$18.9m, excluding a A$2.4m Australian government research and development tax incentive.

In other news, shares in Highlands Natural Resources Plc (LON:HNR) surged as it increased the footprint of its Helios Two natural gas and helium project as it continues talks with several parties over a joint venture on the Montana property.

It has bought an additional 15,623.59 acres for a cash total of US$53,734.16, it told investors.

Sound Energy PLC (LON:SOU) has told investors that gas flows from the Tendrara well are “already highly commercial” and added that the well is above initial expectations.

The company, in a brief stock market statement, said it has now made contact with a significant portion of the well’s net pay, and it is stabilising gas flows through a clean-up process.

Broker Macquarie rates India-focused power generator OPG Power Ventures PLC (LON:OPG) as 'outperform' and says "significant upside" is on the way.

It has a 12 month target and valuation of 120p on the stock, against a current price of 54.75p.

Precious metals group Stratex International plc (LON:STI), which has a number of projects in Turkey, told investors the failed attempted coup over the weekend had not affected its operations.

Similarly, Ariana Resources plc (LON:AAU) is also unaffected by events in the area as it starts its summer drilling programme at the Kiziltepe gold project in Turkey.

And finally, Largo Resources Ltd (CVE:LGO) says it's struck a non-binding historic deal with Vionx Energy Corp, which produces and sells vanadium rechargeable batteries used for energy storage.


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