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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: 0.16
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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
21 Feb 2022 11:31

88 Energy acquires 73pc interest in producing Texas assets

(Sharecast News) - 88 Energy announced the execution of a binding agreement for the acquisition of a 73% average net working interest in established conventional oil and gas production assets in the proven Permian Basin, onshore Texas on Monday.

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14 Feb 2022 14:52

IN BRIEF: 88 Energy raises AUD32 million for Merlin-2 well

88 Energy Ltd - Australia-based oil explorer in US state of Alaska - Raises AUD32 million gross proceeds, about GBP16.8 million, in oversubscribed share placement of 914.3 million shares at AUD0.035 per share. Price was 10% discount to volume weighted average price on ASX for the 30 days to February 9. The new shares will constitute around 5.8% of the enlarged issued share capital of 15.73 billion shares.

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10 Feb 2022 16:01

IN BRIEF: 88 Energy launches GBP16 million raise as drilling approved

IN BRIEF: 88 Energy launches GBP16 million raise as drilling approved

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10 Feb 2022 11:26

AIM WINNERS & LOSERS: Crimson Tide in green after contract win

AIM WINNERS & LOSERS: Crimson Tide in green after contract win

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21 Jan 2022 10:07

IN BRIEF: 88 Energy falls as it begins trading on OTCQB market in US

IN BRIEF: 88 Energy falls as it begins trading on OTCQB market in US

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21 Jan 2022 09:58

AIM WINNERS & LOSERS: Everyman to top forecasts; Angus rise continues

AIM WINNERS & LOSERS: Everyman to top forecasts; Angus rise continues

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17 Jan 2022 17:04

TRADING UPDATES: CentralNic and Pebble tip 2021 earnings rise

TRADING UPDATES: CentralNic and Pebble tip 2021 earnings rise

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6 Dec 2021 21:21

TRADING UPDATES: Orcadian to look at electrification of oil platforms

TRADING UPDATES: Orcadian to look at electrification of oil platforms

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24 Nov 2021 21:20

IN BRIEF: 88 Energy picks spot for Merlin-2 well in project Peregrine

IN BRIEF: 88 Energy picks spot for Merlin-2 well in project Peregrine

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26 Oct 2021 14:58

TRADING UPDATES: Strix launches new products; Sylvania profit down

TRADING UPDATES: Strix launches new products; Sylvania profit down

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15 Oct 2021 20:29

IN BRIEF: 88 Energy plans Merlin-2 appraisal; in strong cash position

IN BRIEF: 88 Energy plans Merlin-2 appraisal; in strong cash position

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2 Sep 2021 14:43

TRADING UPDATES: Serica's Rhum starts production; XLMedia buys in US

TRADING UPDATES: Serica's Rhum starts production; XLMedia buys in US

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31 Aug 2021 21:35

TRADING UPDATES: Jet2 in bumper Airbus order; Strix China factory live

TRADING UPDATES: Jet2 in bumper Airbus order; Strix China factory live

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31 Aug 2021 15:10

88 Energy raising £10.6m to fund Merlin-2 well

(Sharecast News) - 88 Energy announced its plans to raise AUD 20m (£10.6m) before expenses on Tuesday, to finance the drilling and logging of the Merlin-2 well, among other projects.

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16 Aug 2021 12:06

IN BRIEF: 88 Energy spots light oil at Merlin-1 well

IN BRIEF: 88 Energy spots light oil at Merlin-1 well

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