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A sign board above the oil futures pit at the New York Mercantile Exchange (CHIP EAST)
A sign board above the oil futures pit at the New York Mercantile Exchange (CHIP EAST)

Midnight Trader

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Bankers Petroleum Ltd. , which lost 4 per cent on the TSX Friday and was down around 12 per cent in the UK Monday, provided an update on its Ardenica exploration well in Albania.

PetroMagdalena Energy Corp. , a company focused on oil and gas exploration and production in Colombia, announced an update on its ongoing exploration program. CEO Luciano Biondi said: "We are pleased to announce the continuation of our successful exploratory and development drilling program. The Copa 4 development well at Cubiro has extended the mapped reservoir area with higher formation tops than predicted and with positive tests of the zones identified petrophysically, this could lead to a measurable increase in oil reserves for the Copa Field."

Gran Colombia Gold Corp. , which rose nearly 6 per cent on Friday, reported a new Mineral Resource estimate for its Carla Mine in Colombia.

Excellon Resources Inc. , Mexico's highest grade silver producer, which is trading near a year low 47 cents, reported March and first quarter 2012 production results from its La Platosa operations in Durango State, Mexico.

Imvescor Restaurant Group Inc. , which lost 3 per cent on Friday, recorded net income for the first quarter of $3,000 as compared to a net loss of $1,000 for the 13 weeks ended January 30, 2011.

iCo Therapeutics , a drug reprofiling company that saw its shares drop 22 per cent to near a year low 20 cents Friday, said it incurred a net and comprehensive loss of $993,491 for the year ended December 31, 2011 compared to a net and comprehensive loss of $3. million for the year ended 2010. The decrease was driven primarily by an offsetting increase in non-recurring income related to the Sub-licence of iCo-008 to Immune Pharmaceuticals.

Miranda Technologies Inc. which closed slightly higher on Friday announced today the introduction of iTX Master Control, which combines the best of traditional master control functionality with scalable, modern, integrated playout technology. Michel Proulx, Miranda's CTO, said: "The iTX MC system allows broadcasters that handle a large number of live events to take advantage of the simplicity and scalability of an integrated playout solution like iTx."

Aurizon Mines Ltd. announced today the results from the first series of holes from the 2012 exploration drilling program on the Heva and Hosco Zones of the Joanna Project. George Paspalas, CEO, said: "We have always believed that the Joanna property had significant exploration potential in addition to the approximately 2.5 million gold resource ounces found at Hosco, which is currently the basis for the Joanna feasibility study."

Allana Potash Corp. today announced its intention to make a normal course issuer bid, subject to TSX approval, to buy back its common shares through the facilities of the exchange. The maximum number of common shares that may be purchased for cancellation pursuant to the NCIB is that number of common shares that represents 10 per cent of the common shares in the public float.

Fortuna Silver Mines Inc. announced production figures for the first quarter of 2012 from its two operating mines in Latin America. Highlights include silver production of 953,091 ounces, a 4.3 per cent increase, gold production of 5,137 ounces, a 23.7 per cent increase, lead production of 4,443,367 pounds; a 1.1 per cent increase, and zinc production of 5,320,639 pounds; a 6.5 per cent decrease.

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