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Pin to quick picks88 Energy Share News (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
10 Mar 2023 14:49

88 Energy starts drilling Hickory-1 exploration well

(Sharecast News) - 88 Energy announced on Friday that Nordic Calista's Rig-2 has started drilling the Hickory-1 exploration well at Project Phoenix, on the North Slope of Alaska.

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10 Mar 2023 09:55

IN BRIEF: 88 Energy jumps as drilling begins at Hickory-1 in Alaska

88 Energy Ltd - Alaska-focused oil exploration company - Begins the drilling of the Hickory-1 exploration well at Project Phoenix in Alaska. The well is designed to appraise up to six conventional reservoir targets and 647 million barrels of oil. It is permitted to a total depth of up to 12,500 feet. Hickory-1 is planned to be initially drilled to 3,500 feet, with surface casing installed and the blow-out preventer system tested. This is expected to take up to two weeks in total. Drilling to total depth is expected to take an additional two weeks. Flow testing at the well is planned to be undertaken during the 2023/2024 winter season, subject to well results.

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8 Mar 2023 15:52

88 Energy annual loss stretches on impairment expense

(Alliance News) - 88 Energy Limited said on Wednesday that it had suffered a significant loss in 2022 due to a one-off expense.

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28 Feb 2023 15:22

Alaska watchdog approves 88 Energy forming of Phoenix acreage unit

(Alliance News) - 88 Energy Ltd on Tuesday said the Alaskan Department of Natural Resources, Oil & Gas Division has approved the formation of the Toolik River Unit over the western and central Project Phoenix lease area.

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27 Feb 2023 21:24

IN BRIEF: 88 Energy nears completion with ice pad construction

88 Energy Ltd - Australia-based oil explorer in US state of Alaska - Says its Hickory-1 ice pad construction in Alaska is nearing completion. Says that the pre-spud operations are on schedule and that the spud of the Hickory-1 well is on track for early March. Expects the mobilisation of Nordic Calista's Rig-2 to the Hickory-1 well location to start shortly.

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6 Feb 2023 12:08

88 Energy gets permit to drill permit for Hickory-1 well in Alaska

(Alliance News) - 88 Energy Ltd on Monday confirmed its permit to drill permit was approved for the Hickory-1 well and raised funds through the placing of 1.84 billion shares to support drilling.

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3 Feb 2023 17:05

LONDON MARKET CLOSE: FTSE 100 beats 2018 record to hit all-time high

(Alliance News) - The FTSE 100 closed at an all-time high on Friday, rounding off a busy week of central bank interest rate decisions on a positive note.

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3 Feb 2023 10:26

AIM WINNERS & LOSERS: 88 Energy surges; Petro Matad plans fundraise

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

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2 Feb 2023 10:18

AIM WINNERS & LOSERS: Immotion surges on Merlin deal, sale of division

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

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25 Jan 2023 21:41

TRADING UPDATES: 88 Energy anticipates well spud; Tern sees progress

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

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11 Nov 2022 15:24

TRADING UPDATES: De La Rue defends chair; Resolute Mining fundraise

(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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4 Nov 2022 15:42

UK shareholder meetings calendar - next 7 days

Monday 7 November 
B90 Holdings PLCEGM director removal vote
Future Metals NLAGM
Tuesday 8 November 
DG Innovate PLCAGM
Frontier Developments PLCAGM
Wednesday 9 November 
Baker Steel Resources Trust LtdEGM
Essentra PLCAGM
Fundsmith Emerging Equities Trust PLCGM suspension and cancellation of listings
JPMorgan Emerging Markets Investment Trust PLCAGM
Hays PLCAGM
Mid Wynd International Investment Trust PLCAGM
Powerhouse Energy Group PLCAGM
Thursday 10 November 
ACP Energy PLCAGM
Alternative Income REIT PLCAGM
BHP Group LtdAGM
Ferro-Alloy Resources LtdAGM
London Finance & Investment Group PLCAGM
UIL LtdAGM
Friday 11 November 
88 Energy LtdGM proposed resolutions vote
Galliford Try Holdings PLCAGM
Ingenta PLCGM capital allocation
Redrow PLCAGM
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

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24 Oct 2022 13:28

88 Energy says making progress towards drilling following estimates

(Alliance News) - 88 Energy Ltd on Monday said it was making progress at a number of its projects, including the Hickory-1 well at its Icewine site, following encouraging results from initial independent resource analysis.

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5 Sep 2022 15:46

88 Energy identifies Hickory-1 well site ready for 2023

(Alliance News) - 88 Energy Ltd on Monday said it has identified a potential location for its exploration well Hickory-1 in its project Icewine East leases.

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23 Aug 2022 18:13

IN BRIEF: 88 Energy updates resource estimate at Icewine East

88 Energy Ltd - Australia-based oil explorer in US state of Alaska - Provides an update for the prospective resource estimate for its Icewine East project. The project now has two independent estimates. On the Alaska North Slope at the project, the mean total unrisked gross prospective oil resource is 1,030 million stock tank barrels of oil. The mean unrisked net entitlement to 88 Energy at the Alaska North Slope is 647MMstb.

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