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Share Price Information for 88 Energy (88E)

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Share Price: 0.1275
Bid: 0.125
Ask: 0.13
Change: -0.005 (-3.77%)
Spread: 0.005 (4.00%)
Open: 0.1325
High: 0.129
Low: 0.1275
Prev. Close: 0.1325
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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
18 Jun 2018 11:19

88 Energy Progressing On Icewine Clean Up As Starts Lifting Nitrogen

LONDON (Alliance News) - 88 Energy Ltd on Monday said it commenced nitrogen lifting at Icewine No 2 borehole in Alaska.The exploration & production company said the well is still in a

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13 Jun 2018 12:35

88 Energy Begins Flowback At Project Icewine In Alaska

LONDON (Alliance News) - 88 Energy Ltd said Wednesday flowback has commenced at its Icewine No 2 borehole in Alaska.88 Energy said "based on the pressures and flow rates" it does

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29 May 2018 11:55

88 Energy To Start Flow Testing Second Icewine Well In June

LONDON (Alliance News) - 88 Energy Ltd said on Tuesday it has scheduled the flowback of the Icewine No. 2 oil well, onshore Alaska, for June 11.Site works have been completed at the Bluffs

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21 May 2018 13:35

88 Energy Says Icewine#2 Production Testing Set To Restart In June

LONDON (Alliance News) - 88 Energy Ltd said Monday site works at the Icewine#2 project in Alaska have commenced to clear ice and snow and final preparations for mobilisation of test equipment were

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1 May 2018 13:32

88 Energy Raises AUD17 Million Through Oversubscribed Placing (ALLISS)

LONDON (Alliance News) - Oil and gas exploration firm 88 Energy Ltd said Tuesday it raised AUD17 million through a "significantly oversubscribed" placing.88 Energy has placed at -

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30 Apr 2018 12:30

88 Energy To Raise AUD17 Million Via Discounted Share Placing (ALLISS)

LONDON (Alliance News) - 88 Energy Ltd on Monday announced an equity fundraise, as it progressed on Icewine project in Alaska and Yukon gold project in Canada.The oil & gas explorer to

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26 Mar 2018 17:20

88 Energy Completes Loan Refinance With Bank Of America

LONDON (Alliance News) - 88 Energy Ltd completed a loan refinance with Bank of America in respect to the oustanding balance of USD16.5m, on terms similar to the

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16 Feb 2017 08:09

88 Energy to move Arctic Fox rig in April

(ShareCast News) - Oil and gas explorer 88 Energy said that Doyon Drilling's Arctic Fox rig is to move to the Icewine 2 appraisal well in April after the completion of drilling on a nearby acreage. The AIM-listed company said that the rig on the onshore Icewine project in the north slope of Alaska i

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13 Jan 2017 10:56

88 Energy completes conventional prospectivity review at Icewine

(ShareCast News) - 88 Energy updated the market on Project Icewine, located onshore North Slope of Alaska, on Friday, having completed the conventional prospectivity review over the project. The AIM-traded firm said additional resource potential had been identified for conventional leads across the

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15 Dec 2016 09:28

88 Energy Increases Land Holding Around Icewine With Partner Burgundy

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15 Dec 2016 09:19

Success for 88 Energy in Alaskan acreage bidding round

(ShareCast News) - 88 Energy updated the market on Tuesday in relation to Project Icewine, in which it has a 77.5% working interest as operator, located on the Central North Slope of Alaska. The AIM-traded company confirmed its wholly-owned subsidiary Accumulate Energy Alaska and its joint venture p

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25 Oct 2016 11:24

88 Energy raises AUD 11m from institutional investors

(ShareCast News) - 88 Energy announced on Tuesday that it has reached agreement regarding a placement to raise gross proceeds of AUD 11m, to two US-based institutional investors. The AIM-traded firm said the net proceeds will be used to strengthen the Company's balance sheet ahead of the upcoming dr

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25 Oct 2016 07:11

Two New US Institutional Investors Inject AUD11 Million Into 88 Energy (ALLISS)

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5 Sep 2016 09:22

88 Energy to drill vertically rather than laterally at Alaskan well

(ShareCast News) - Australian oil and gas company 88 Energy has revised the design for its Alaskan Icewine-2 well and now intends to drill vertically, rather than laterally, to reduce costs and risks. AIM-listed 88 Energy, along with its joint-venture partner Burgundy Xplorartion, found that a verti

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8 Jun 2016 13:43

Positive progress for 88 Energy at Icewine

(ShareCast News) - Exploration company 88 Energy issued an extensive update on its operations at Project Icewine on Wednesday, including its securing of additional acreage. The AIM-traded firm said processing has been completed for the official award of 172,937 acres successfully bid on in the State

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