Just like yesterday, oil and gas companies accounted for most of today’s corporate updates in London. Among those, sector major Cairn Energy’s (LON:CNE) disappointing operational report from Greenland generated the most interest.



Cairn announced that it will plug and abandon its Gamma-1 exploration well, which failed to find any hydrocarbon reservoirs.



In the meantime, the Delta-1 exploration well is currently drilling ahead and has so far intersected several hundred metres of Tertiary volcanic section, which is thicker than anticipated and with only minor hydrocarbon indications.



“The full results of the Gamma-1 well and the update from the Delta-1 well will be reviewed in the context of all the data gathered during the Greenland exploration campaign,” said chief executive of Cairn Energy Simon Thomson.



“The rigs are scheduled to move south to drill the final two wells of the programme on the Atammik block. We remain focussed on the potential of our multi-basin position in Greenland.”



Moving to the FTSE 250, spread betting company IG Group (LON:IGG) told investors that its first quarter revenues amounted to £100 million, up 26 percent from the same period last year.



Excluding the Group's sports business, which was closed during the period, the Group achieved like-for-like revenue growth of 30 percent.



Back to oil and gas, small cap Ascent Resources (LON:AST) has received confirmation of the extension of its M10/M11 block licences offshore Netherlands in the southern North Sea until 30 June 2013.



In the licence area there are three structures, all of which contain gas discovery wells with the gas present in the Slochteren unit of the Rotligendes sandstones.



A conceptual development plan has been prepared and a final appraisal well is being planned for the second half of 2012 to confirm reservoir parameters for the detail project design.



Sector peer Aminex (LON:AEX) has agreed to withdraw from the West Songo-Songo production sharing agreement (PSA) in Tanzania, transferring its 50 percent interest to partner Key Petroleum, which will then hold 100 percent. In return, Key will relinquish its 5 percent interest in the new Nyuni Area PSA in favour of Aminex.



The Nyuni Area PSA will be materially larger than the earlier one and will comprise 4 additional blocks directly to the north, as well as the area covered by the existing Nyuni-East Songo-Songo PSA.



Key will retain a 5% working interest in the Kiliwani North gas development licence, which was carved out from the Nyuni PSA earlier this year.



Aminex said that the new acreage included in the Nyuni Area PSA will “provide greater scope for establishing a new play fairway on the continental shelf which could share similarities to some of the recent deep water drilling successes”.



In the mining sector, Anglesey Mining (LON:AYM) said its 33 percent owned associate Labrador Iron Mines Holdings has been added to the S&P/TSX SmallCap Index which will become effective after the close of trading on Friday, September 16, 2011.



“The addition of LIM to the S&P/TSX SmallCap Index reflects LIM's growing investment profile as production of direct shipping iron ore at its James Mine in western Labrador continues to ramp up,” said chairman of Labrador Iron Mines John F. Kearney.



Another small cap Goldplat (LON:GDP) released its financial results for the year to end June today. The company saw its pre-tax profits jump 76 percent to £3.43 million and had cash of £3.01 million at the end of the period, up from £1.02 million a year earlier.



Goldplat said its gold recovery plants have performed “robustly” with production increasing 31 percent to 28,185 ounces of gold.



Fellow mining company Metminco (LON:MNC), which is focused on copper, also released its financial results today, reporting on its performance in the six months to end June. The company said its interest revenues climbed from US$26,381 a year earlier to US$207,626 and pre-tax losses amounted to US$5.27 million, down from US$5.31 million.



Metminco had cash of US$31.43 million at the end of the period, up from US$23.2 million at the end of 2010.



Staying with resource stocks, Beacon Hill Resources (LON:BHR) reported that recent coke tests undertaken on coal samples from large diameter drill cores attained from its wholly owned Minas Moatize coal mine in the Tete region of Mozambique classify the coal as hard coking coal.



Development of Minas Moatize coal mine progressing with production of first washed coking coal is planned to commence in 2012.



In other news, diamond explorer Stellar Diamonds (LON:STEL) provided an update from its Droujba kimberlite pipe project in eastern Guinea, where it has completed 31 holes for 6,425 metres.



The company said drilling results have been “encouraging” and that geological modelling has indicated potential for 15 million tonnes to a depth of 350 metres.



In IT, Advanced Computer Software (LON:ASW) told investors that it expects to report first half results in line with the board's expectations with revenues of no less than £50 million and adjusted earnings before interest, taxes, depreciation and amortisation of at least £13 million.



At the period end the Group had cash of £9 million and a net debt of £25 million.



In the biotech sector, ValiRx (LON:VAL) has signed a collaborative agreement with fellow AIM quoted company Physiomics (LON:PYC) over the further development and accelerated progress of VAL201, ValiRx's anti-cancer compound.



Physiomics will use its systems biology expertise and 'Virtual Tumour' proprietary technology to help ValiRx speed its progress through the next stage of VAL201's preclinical programme to support the regulatory requirements prior to its entering clinical trials.



Elsewhere in the sector, ReNeuron (LON:RENE) updated the markets on the PISCES Phase I clinical trial of its ReN001 stem cell therapy for disabled stroke patients.



Earlier this month, ReNeuron said the independent Data Safety Monitoring Board (DSMB) had recommended that the trial advance to the evaluation of a higher dose of ReN001, based on its review of the safety data from the first dose cohort of three patients treated with ReN001.



ReNeuron said today the first patient in this next dose cohort of three patients has been successfully treated with ReN001. That patient has been discharged from hospital with no acute safety issues arising.



Elsewhere in the markets, clean energy company Camco International (LON:CAO) reported that revenues in the six month to end June increased from €11 million a year earlier to €16.2 million and profits climbed from €0.6 million to €3 million. Camco had cash of €14.9 million at the end of the period.



“In the first half of the year we have successfully established our project development business, significantly increased our carbon portfolio and continued to expand profits from our Advisory business,” said chief executive of Camco Scott McGregor.



“Throughout each region our teams have created a significant impact, delivering our partners projects that added both commercial and environmental value.”