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Pin to quick picks88 Energy Share News (88E)

Share Price Information for 88 Energy (88E)

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AIM WINNERS & LOSERS: Tern raises GBP6 million; Kromek revenue down

Wed, 14th Jul 2021 11:30

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

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AIM - WINNERS

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Symphony Environmental Technologies, up 11% at 21.17 pence, 12-month range 10.65p-47.0p. The anti-microbial plastic technologies firm receives approval from the US Food & Drug Administration for its d2p antimicrobial food contact technology.

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88 Energy, up 7.9% at 1.89p, 12-month range 0.24p-4.70p. The Alaska-focused oil exploration and appraisal company says additional phase one geochemical analysis of fluid extracts from Merlin-1 well core samples again demonstrates the presence of hydrocarbons. Results from phase two of side-wall core trim analysis are expected in the next few weeks. Phase two is designed to confirm not only the presence of oil but also the nature of the source rock, to help understand the likely quality of the oil as well as migration pathways.

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Alpha FX Group, up 6.7% at 1,665.00p, 12-month range 677p-1,720p. The foreign exchange risk management and international payments firm says trading in the first half ended June 30 has been "strong" across its business, with revenue up 89% year on year at GBP34 million. Adds 84 new clients and notes average revenue per client continued to increase. The company expects to exceed current internal expectations for 2021, on the back of continued strong trading. In 2020, saw revenue of GBP46.2 million with pretax profit of GBP17.1 million.

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Avacta, up 5.9% at 143.56p, 12-month range 88.66p-291.80p. The developer of diagnostics and cancer therapies says Life Sciences unit gets ISO 13485 certification for the quality management system for the manufacture and distribution of Affimer reagents for use in lateral flow, ELISA and immunodiagnostic in-vitro diagnostic devices.

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Fulcrum Utility Services, up 5.6% at 32.74p, 12-month range 28.25p-43.60p. The energy and multi-utility services provider wins new GBP4.9 million multi-utility infrastructure contract from unnamed "large investor developer", for a "major" new employment park in the West Midlands. As part of the contract, the company will design and install a high voltage primary substation and the electricity, water, and gas infrastructure to "energise and power" the new development.

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AIM - LOSERS

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Tern, down 13% at 19.40p, 12-month range 5.50p-31.67p. The investment firm completes fundraise at the issue price of 18.8p per share. The retail offer and subscription were both oversubscribed and the company said it raised GBP2 million and GBP4 million, respectively. "We intend to utilise the proceeds to maximise the value to our shareholders of our portfolio, and I look forward to providing further updates in due course," says Chief Executive Al Sisto.

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Kromek Group, down 7.0% at 15.00p, 12-month range 7.66p-25.20p. The detection technology firm says revenue totalled GBP10.4 million for the financial year that ended April 30 versus GBP13.1 million the year before. Pretax loss, however, narrows to GBP6.3 million from GBP18.3 million loss the year prior. This is due to non-repeat of GBP13.1 million of exceptional impairment losses on trade receivables and amounts recoverable on contracts. Separately, Kromek says it wins new contracts and orders across all segments for delivery this year.

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By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
11 Mar 2020 13:18

88 Energy's Charlie-1 Well In Alaska Drilled To 3,500 Feet

88 Energy's Charlie-1 Well In Alaska Drilled To 3,500 Feet

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3 Mar 2020 15:35

88 Energy begins drilling Charlie-1 appraisal well

(Sharecast News) - 88 Energy updated the market in operations for the currently-drilling Charlie-1 appraisal well, on the North Slope of Alaska on Tuesday.

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3 Mar 2020 12:10

88 Energy "Optimistic" After Kicking Off Drilling At Charlie-1 Well

88 Energy "Optimistic" After Kicking Off Drilling At Charlie-1 Well

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12 Feb 2020 09:35

88 Energy Expects To Spud Charlie-1 Well In "Late February"

88 Energy Expects To Spud Charlie-1 Well In "Late February"

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24 Jan 2020 08:53

88 Energy Raising Over GBP2.5 Million To Fund Alaska Projects

88 Energy Raising Over GBP2.5 Million To Fund Alaska Projects

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22 Jan 2020 09:35

88 Energy Shares Slip As It Confirms Potential Capital Raise

88 Energy Shares Slip As It Confirms Potential Capital Raise

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20 Jan 2020 11:36

88 Energy Eyes February Drilling At Project Icewine's Charlie-1 Well

88 Energy Eyes February Drilling At Project Icewine's Charlie-1 Well

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15 Jan 2020 11:05

88 Energy Says Operations At Project Icewine Progressing As Planned

88 Energy Says Operations At Project Icewine Progressing As Planned

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15 Jan 2020 09:04

88 Energy on track ahead of drilling of Charlie-1

(Sharecast News) - 88 Energy updated the market on the upcoming drilling of the Charlie-1 appraisal well at Project Icewine, located on the Central North Slope in Alaska on Wednesday, reporting that ice road construction was now fully underway with around 25% of the base road now complete, and about 35% of the total route staked and pre-packed.

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27 Dec 2019 14:39

88 Energy on track for February spud at Charlie-1

(Sharecast News) - 88 Energy updated the market on the upcoming drilling of the Charlie-1 appraisal well at Project Icewine, on the Central North Slope in Alaska on Friday, reporting that the initial snow trail from the Dalton Highway was now complete.

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27 Dec 2019 09:12

88 Energy Moves Towards Charlie-1 Well Spud In February Next Year

88 Energy Moves Towards Charlie-1 Well Spud In February Next Year

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27 Nov 2019 14:38

88 Energy's Icewine Deal With Premier Oil Executed; Charlie-1 To Spud

88 Energy's Icewine Deal With Premier Oil Executed; Charlie-1 To Spud

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22 Oct 2019 11:49

88 Energy In More Farm-Out Talks As Charlie-1 Well Drilling Nears

88 Energy In More Farm-Out Talks As Charlie-1 Well Drilling Nears

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22 Oct 2019 11:17

Progress remains solid at 88 Energy's Project Icewine

(Sharecast News) - Oil explorer and developer 88 Energy updated the market on its activities in the quarter ended 30 September on Tuesday, reporting that at Project Icewine, the conventional farm-out was executed with Premier Oil in the period.

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15 Oct 2019 11:32

88 Energy contracts rig as it prepares for drilling of Charlie-1

(Sharecast News) - 88 Energy updated the market on the upcoming drilling of the Charlie-1 appraisal well at Project Icewine, located on the Central North Slope in Alaska on Tuesday, reporting that through its wholly-owned subsidiary Accumulate Energy Alaska, it has executed a rig contract with Nordic-Callista Services to utilise Rig-3 for the drilling of Charlie-1.

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