STOCKS NEWS UK SMALL-ViaLogy up; raises stake in Texas well
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11:41GMT 01April2009-ViaLogy up; raises stake in Texas well
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Shares in ViaLogy Plc (VIY.L) rise 6 percent as the provider of sensor technology to oil explorers increases its stake in the Galba Prospect oil well in Texas to 10 percent from 5 percent through the exercise of an option with a U.S.-based explorer.
Seymour Pierce's analyst Derek Brown says: "Obviously this is good news, but we had not previously been aware that it was an option, so it is something of a surprise."
Brown, who has a "buy" rating on the stock, says: "ViaLogy was forecasting revenue of about $300,000 over the lifespan of the well, based on a 5 percent interest, so about $600,000 now looks possible."
To see ViaLogy's statement, double click on [ID:nRnsA8916P]
Reuters messaging rm://purwa.naveen.reuters.com@reuters.net
11:23GMT 01April2009-Silence Thera falls on lack of deal news
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Shares in gene company Silence Therapeutics (SLN.L) fall 14 percent as investors were disappointed that there were no new announcements on licence deal progress alongside the full year results.
"I think it's just a little bit of disappointment that there's not more of an insight into what deals could be achieved," says Matrix analyst Navid Malik. Continued...
