News

Small caps round-up: Forbidden Technologies, Beowulf Mining, Servoca, Island Oil, Borders & Southern

04 June 2008 08:45:00

Shares in Forbidden Technologies jumped on news that FremantleMedia, one of the largest creators and producers of entertainment brands in the world, will use the group's video toolkit FORscene in its US based productions.

FremantleMedia is owned by the RTL Group, Europe's largest television and radio broadcast company. Fremantle North America produces some of America's most popular television programmes including American Idol.

"I am delighted that FremantleMedia is using FORscene in some of its most prestigious productions. This is an important addition to our user base on the West Coast of the USA," said chief executive Stephen Streater.

AIM-listed Beowulf Mining has signed an agreement with Australia's WAG to cooperate in the exploration and evaluation of the Ruoutevare iron and titanium project in northern Sweden.

Under the agreement WAG will complete a work programme within 18 months with a minimum expenditure of A$1m. This programme will include 5000 metres of drilling and metallurgical test work.

Training and consultancy specialist Servoca said trading across all three divisions of the business remains in line with expectations.

Computer aided detection (CAD) and image analysis software company Medicsight has signed an exclusive CAD clinical research agreement with two leading US computed tomography colonography radiologists.

Dr. Perry Pickhardt, Associate Professor of Radiology, and Dr. David Kim, from The University of Wisconsin Medical School, are to collaborate with Medicsight on CAD research.

The pair of academics, along with Thje University of Wisconsin, were the first group to establish a third-party reimbursed computed tomography colonography colorectal cancer screening programme in 2004.

Island Oil & Gas has started a 2D seismic acquisition programme over Standard Exploration Licences 4/05 and 5/05 in the Celtic Sea, offshore Ireland.

Falklands-focused oil group Borders & Southern is considering raising more money to fund its development programme. The group has cash of £19.6m but says this is not enough to meet to cover its drilling aspirations. "At the appropriate time the board will decide whether to initiate a farm-out of the acreage or to seek additional funding (or a combination)," it says. Losses for 2007 were £167,000 (2006 £527,000).

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