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Pin to quick picks88 Energy Share News (88E)

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AIM WINNERS & LOSERS: Abingdon Health warns results to miss forecasts

Tue, 27th Apr 2021 10:30

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

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AIM - WINNERS

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Vast Resources PLC, up 31% at 0.10 pence, 12-month range 0.07p-0.29p. Says decline project to Level 19 is progressing on schedule and has started mining fresh higher grade ore at its Baita Plai polymetallic mine in Romania. "I am delighted with the operational progress that we have made in recent weeks and we remain well capitalised to achieve our development plan at Baita Plai without needing to come back to the market for the foreseeable future," says Chief Executive Andrew Prelea.

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Argos Resources Ltd, up 13% at 3.40p, 12-month range 1.39p-3.79p. The Falkland Islands-based exploration company says the Falkland Islands government has extended the second term of its PL001 licence by twelve months, to May 2022. Firm has a commitment to drill one exploration well within the licence area by the end of the second term of the licence.

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88 Energy Ltd, up 11% at 1.34p, 12-month range 0.23p-4.7p. Says testing commenced on sidewall cores, cuttings, mud gas and fluid samples from Merlin-1, North Slope of Alaska. Results expected over next 2 to 10 weeks. Initial mapping of additional prospective zones encountered in Merlin-1 encouraging, it says.

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Jet2 PLC, up 3.9% at 1,471.37p, 12-month range 429.8p-1,524p. The airline and package holiday operator guides to full-year loss, but says vaccine rollout "encouraging". Expects to report a loss before foreign exchange revaluation and tax from continuing operations for the financial year ended March 31 between GBP375 million and GBP385 million, swinging from profit of GBP264.2 million the year before. The UK's vaccine rollout and increasing momentum in Europe are both encouraging for the financial year ahead, Jet2 says, though highlights uncertainty over the UK government's proposed Covid-19 travel restrictions. "We continue to be encouraged by the volume of customer bookings for both Winter 21/22 and for Summer 22, for which package holiday bookings are displaying a materially higher mix of the total," it says.

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AIM - LOSERS

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Abingdon Health PLC, down 30% at 56.35p, 12-month range 41.5p-136.65p. Hits this 12-month low earlier on Tuesday. The rapid tests manufacturer says results for financial year ending June 30 to be "substantially" below market expectations. It continues to make progress on commercialising the AbC-19 rapid test both in the UK private sector and internationally, and is encouraged by ongoing commercial discussions while progressing required regulatory approvals. "Whilst each of the opportunities at the time of the interims remains in place and the pipeline continues to grow, the speed of adoption and therefore the receipt of orders is taking longer than the board originally anticipated," it warns.

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Scotgold Resources Ltd, down 21% at 55.75p, 12-month range 46p-170p. Hits this 12-month low earlier on Tuesday. The gold exploration company concludes that ramp up of underground mining at production at Cononish will be slower than originally planned. Expects production for calendar year 2021 to be materially less than the guidance range communicated in March. "The recent delays to the production ramp-up have had and are expected to have a negative impact on the company's cash position," it says, adding it is looking into financing options, including short-term debt financing from the directors.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
8 Jan 2024 16:15

UK shareholder meetings calendar

Tuesday 9 January 
Agriterra LtdAGM
DX Group PLCGM re acquisition by HIG Capital funds
GENinCode PLCGM re fundraise
Leeds Group PLCGM re sale of subsidiary Hemmers-Itex
Smart Metering Systems PLCGM re acquisition by KKR funds
Wednesday 10 January 
Hummingbird Resources PLCGM re share placement
Ironveld PLCAGM
Reabold Resources PLCGM re appointment of new directors
Safestyle UK PLCEGM re approve winding up of company
Scirocco Energy PLCGM re proposed disposal of interests in Energy Acquisitions Group Ltd
Versarien PLCGM re capital reorganisation
Thursday 11 January 
Pennpetro Energy PLCAGM
R&Q Insurance Holdings LtdGM re sale of Accredited to Onex Corp
Ten Entertainment Group PLCGM re takeover by Trive funds
Friday 12 January 
Ashington Innovation PLCAGM
Dukemount Capital PLCAGM
Monday 15 January 
88 Energy LtdGM re fundraising
Mondi PLCGM re special dividend
SRT Marine Systems PLCGM re fundraising
Strip Tinning Holdings PLCGM re fundraising
  
Copyright 2024 Alliance News Ltd. All Rights Reserved. 

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15 Dec 2023 16:58

TRADING UPDATES: 88 Energy expands Texas footprint with acquisitions

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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15 Dec 2023 11:26

88 Energy secures new Texas acreage

(Sharecast News) - 88 Energy announced the acquisition of additional oil and gas production assets in the Texas Permian Basin on Friday, marking a significant expansion of its regional footprint.

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5 Dec 2023 20:01

EARNINGS AND TRADING: Lowland Investment NAV falls but dividend hiked

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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29 Nov 2023 14:30

EARNINGS AND TRADING: Northern Bear boosts profit, Esken loss widens

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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28 Nov 2023 16:53

TRADING UPDATES: Upland Resources completes technical study at Sarawak

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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13 Nov 2023 21:58

TRADING UPDATES: 88 Energy signs farm-in deal with Monitor Exploration

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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6 Nov 2023 17:07

IN BRIEF: 88 Energy pleased with maiden contingent resource estimate

88 Energy Ltd - Alaska-focused oil and gas company based in Subiaco, Western Australia - Says the maiden independent contingent resource estimate has been completed at Project Phoenix for the Basin Floor Fan reservoir. Reports a gross best estimate contingent resource of 250 million barrels of oil equivalent from the deepest reservoir encountered in Hickory-1. Explains that contingent resources were defined on the basis of multiple successful flow tests conducted in the BFF reservoir on adjacent acreage and clear reservoir continuity demonstrated through high quality seismic data.

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31 Oct 2023 19:04

TRADING UPDATES: CPP reports new business wins for Blink division

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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30 Oct 2023 14:15

IN BRIEF: 88 Energy gears up for Phoenix reservoir resource estimate

88 Energy Ltd - Alaska-focused oil and gas company based in Subiaco, Western Australia - Appoints independent consultants Netherland, Sewell & Associates, Inc to conduct a contingent resource estimate on the Basin Floor Fan reservoir at Project Phoenix on Alaska's Central North Slope. News follows Pantheon Resources PLC declaring a significant contingent resource for the Lower BFF reservoir. 88 says BFF was the deepest hydrocarbon-bearing pay zone intersected during drilling and logging of the Hickory-1 exploration well. Says NSAI's assessment, based on results from Hickory-1 and nearby offset wells, may lead to Hickory-1 being confirmed as a discovery. NSAI has starting reviewing and integrating existing data from all reservours.

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12 Oct 2023 16:14

TRADING UPDATES: 88 Energy targets flow test for Phoenix in 2024

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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21 Sep 2023 12:12

TRADING UPDATES: Faron appoints Birge Berns as interim medical officer

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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8 Sep 2023 10:54

88 Energy narrows loss, draws on cash balance for Hickory project

(Alliance News) - 88 Energy Ltd on Friday said it reduced its interim loss in part from reduced exploration impairments, and it is optimistic about scheduled tests in Alaska.

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30 Aug 2023 18:37

IN BRIEF: 88 Energy completes shortfall offer placement

88 Energy Ltd - Alaska-focused oil explorer - Completes shortfall offer placement from the non-renounceable rights issue at an issue price of AUD0.006 per share. The rights issue closed on August 22 with the company issuing around 553 million new shares. As a result of the strong inbound demand received from other investors during the rights issue and subsequent shortfall offer process, company has received firm commitments to place in full all new shares not taken up in the rights issue, representing around 1.46 billion shares.

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29 Aug 2023 10:45

88 Energy completes rights issue, announces GBP5 million placing

(Alliance News) - 88 Energy Ltd on Tuesday said it completed its latest rights issue and proposed a placing of over one billion shares to fund its exploration activity.

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