Small-cap energy names had plenty to report on Monday, from a fresh contract win in the North Sea supply chain to a security-driven shutdown in Kurdistan. Plexus Holdings led the pack after securing a multi-million-pound engineering deal, while Jadestone Energy delivered a record-setting well result in Malaysia and Gulf Keystone Petroleum moved to protect its Shaikan field amid a worsening regional backdrop.
Plexus lands £2.5m Cactus Wellhead deal
Plexus Holdings (LON:POS) has agreed a two-year engineering contract worth up to £2.5m with Cactus Wellhead to develop and test new offshore wellhead products. The agreement extends Plexus's reach into fresh product development work with an established industry partner, and the news sent shares up 15.254% to 3.4p.
Zenith Energy targets Italian biogas plant acquisition
Zenith Energy (LON:ZEN) is moving to acquire a construction-ready biogas plant in Italy, a deal chief executive described as putting the company's Italian renewable energy strategy "in action" by buying high-quality development assets at attractive valuations and creating value through financing, construction and operation. Shares rose 1.61% to 4.725p on the update.
Oracle Power nears Kalgoorlie mining milestone
Oracle Power (LON:ORCP) is preparing key regulatory submissions this month as it edges closer to mining at the Northern Zone of its Kalgoorlie Gold Project in Western Australia. The permitting progress builds toward a production decision on the asset, with shares up 1.19% to 0.0425p.
Jadestone's second Malaysia well flows at 2,800 bopd
Jadestone Energy (LON:JSE) reported that its latest East Belumut infill well flowed at 2,800 barrels of oil per day, outpacing the first campaign well and setting a new Malaysian record for extended reach drilling. The strong result lifted shares 4.274% to 30.5p.
Sulnox's fuel tech wins Superyacht sustainability award
Sulnox Group Plc saw its Sulnox Eco fuel conditioning technology take a Superyacht UK Sector Sustainability Award, secured through distribution partner Barrow International. The win advances Sulnox to the national finals in September, giving the fuel treatment specialist further validation in the marine sustainability market.
Gulf Keystone halts Shaikan output on security concerns
Gulf Keystone Petroleum, the Kurdistan-focused operator, shut in production at its Shaikan field as a precaution amid a deteriorating regional security environment. The company said there had been no impact on its assets, framing the move as a temporary safety measure rather than a response to any direct incident.
