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Pin to quick picks88 Energy Share News (88E)

Share Price Information for 88 Energy (88E)

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Share Price: 0.1175
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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
24 Jan 2019 09:51

Solid progress for 88 Energy on North Slope of Alaska

(Sharecast News) - 88 Energy updated the market on its oil and gas operations on the North Slope of Alaska on Thursday, reporting that the construction of the ice road was now 85% complete, with the ice pad build to commence shortly.

Read more
17 Jan 2019 10:01

88 Energy, Pantheon And Red Emperor Jump On Alaska Permit Approval

LONDON (Alliance News) - 88 Energy Ltd and its partners said Thursday they had been granted a drilling permit for the Winx-1 exploration well located in the US state of Alaska, adding that the ice

Read more
7 Jan 2019 09:59

Red Emperor Resources, 88 Energy Start Ice Road Construction In Alaska

LONDON (Alliance News) - Red Emperor Resources NL on Monday said construction has started on an 11-mile ice road at its Winx-1 exploration well, in the North Slope of Alaska.The company is

Read more
7 Jan 2019 08:45

88 Energy begins ice road construction to Winx-1 well

(Sharecast News) - 88 Energy updated the market on its oil and gas operations on the North Slope of Alaska on Monday, reporting that ice road construction for the Winx-1 exploration well had now commenced.

Read more
17 Dec 2018 09:47

88 Energy secures all but one major permit at Alaskan asset

(Sharecast News) - Exploration firm 88 Energy has been granted all but one major permit for its Winx-1 exploration drill on the North Slope of Alaska, with the group expecting to receive approval for its drilling permit in January 2019.

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7 Nov 2018 11:01

88 Energy Updates Prospective Oil Resource At Icewine On Yukon Data

LONDON (Alliance News) - 88 Energy Ltd on Wednesday updated its prospective oil resource at Project Icewine in the US state of Alaska to reflect the 3D seismic data for its Yukon in the company up

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30 Oct 2018 13:02

88 Energy Non-Executive Director Brent Villemarette Dies

LONDON (Alliance News) - 88 Energy Ltd on Tuesday said Non-Executive Director Brent Villemarette has died as a result of a known health condition.88 Energy said the death was unexpectedly a

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23 Oct 2018 12:36

88 Energy Nears Completion Of Seismic Inversion At Icewine Project

LONDON (Alliance News) - 88 Energy Ltd said 3D seismic inversion is substantially complete for both shallow and deep horizons at its Icewine oil & gas project in Alaska.88 Energy the 3D

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3 Oct 2018 09:14

88 Energy Launches Offer To Raise GBP8 Million For Alaskan Well Work (ALLISS)

LONDON (Alliance News) - Shares in 88 Energy Ltd fell Wednesday as the firm announced a rights offer to raise approximately GBP8.0 million.The stock was trading at 1.06 pence a share, down

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28 Sep 2018 14:46

88 Energy secures another 45,000 acres on North Slope of Alaska

(Sharecast News) - 88 Energy updated the market on its operations on the North Slope of Alaska on Friday, confirming that agreements had been executed for an additional 45,239 acres net to the company.

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28 Sep 2018 13:26

88 Energy Leases Further 45,239 Acres At Icewine Project In Alaska

LONDON (Alliance News) - 88 Energy Ltd on Friday said its subsidiary agreed with Arctic Slope Regional Corp to lease the hydrocarbon rights across 28,453 acres contiguous with the Western Fairway

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5 Sep 2018 12:24

88 Energy Interim Loss Narrows On Higher Revenue; Focuses On Alaska

LONDON (Alliance News) - 88 Energy Ltd said Wednesday its loss for the first half of 2018 narrowed from a year before as it kept focus on its principal activities in Alaska.For the six to a

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29 Aug 2018 10:53

88 Energy Secures Rig For Drilling On Alaska's Winx Prospect

LONDON (Alliance News) - 88 Energy Ltd said on Thursday it has secured a rig contract for drilling work at the company's Winx prospect on Alaska's North Slope.The rig has been from

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29 Aug 2018 08:56

88 Energy executes rig contract for Alaskan drilling

(Sharecast News) - Dual listed explorer 88 Energy updated investors on operations at its Western Blocks project on Wednesday.

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30 Jul 2018 10:22

Red Emperor And 88 Energy Pen Agreements For Alaskan Leases

LONDON (Alliance News) - Red Emperor Resources NL and 88 Energy Ltd on Monday said they have signed agreements to buy stakes in four leases on the western flank of Alaska's North two companies

Read more

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