Resources round-up: Conroy, Empyrean Energy, New World Oil and Gas

Shares in Conroy Gold and Natural Resources, an AIM-listed mining company, leapt after the firm discovered two new gold targets at the Slieve Glah licence area in County Cavan, Ireland. The two targets, each of which are over 3km in length, returned anomalous gold values from the assay analysis, which ranged from four parts per billion (ppb) gold to over 300ppb. In Ireland, over 10ppb is considered highly anomalous and typically proves positive for gold-in-bedrock, the firm said.

By MoneyWeek

published 9 October 2012

in Features

Oil and gas producer Empyrean Energy has reached the milestone of 50 wells in production at the Sugarloaf Project, onshore Texas. In addition to this, there are currently four well being drilled and a further three in the process of having completion/stimulation operations carried out.

New World Oil and Gas has raised £8.6m (gross of expenses) after issuing 95.56m new ordinary shares at 9p each. The proceeds will be used to find the drilling of a third well at its Blue Creek Project in Northwest Belize, the planned 3D seismic programme on the its Danica Jutland project in Denmark and for general working capital purposes.