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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.

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16 Aug 2021 10:45

88 Energy's Merlin-1 well confirms presence of light oil

(Sharecast News) - Oil exploration and appraisal company 88 Energy said on Monday that post-well evaluation of its Merlin-1 well had successfully demonstrated the presence of oil in multiple stacked sequences in the Cretaceous Nanushuk Formation.

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11 Aug 2021 17:29

EARNINGS UPDATES: Woodbois reports narrowed loss; Goodwin profit rises

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88 Energy identifies "additional upside" at Alaska's Umiat oil field

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AIM WINNERS & LOSERS: Cora Gold shares up on "fantastic" drill results

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2 Aug 2021 14:40

EXECUTIVE CHANGES: 88 Energy appoints new COO, chair and non-executive

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15 Jul 2021 15:52

88 Energy confirms it now holds full stake in Project Peregrine

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15 Jul 2021 09:21

88 Energy issues fewer shares than expected for Peregrine purchase

(Sharecast News) - 88 Energy announced on Thursday that, in relation to its agreement with Alaska Peregrine Development Company (APDC) for the acquisition of a 50% working interest in Project Peregrine, the final total number of shares issued to APDC was 633,457,196 - 190,634,537 lower than originally projected.

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14 Jul 2021 15:42

88 Energy posts positive update from Alaska's North Slope

(Sharecast News) - 88 Energy updated the market on operations on the North Slope of Alaska, and the ongoing testing programme following the drilling of the Merlin-1 well, on Wednesday, reporting that additional first phase geochemical analysis of fluid extracts from Merlin-1 core samples again demonstrated the presence of hydrocarbons.

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14 Jul 2021 14:46

TRADING UPDATES: Numis boosted by busy IPO market; Cora spots gold

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1 Jul 2021 19:26

TRADING UPDATES: Gym Group bulks up with placing; 88 Energy debt free

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24 Jun 2021 19:56

TRADING UPDATES: Vitec and Allergy Therapeutics lift full-year outlook

TRADING UPDATES: Vitec and Allergy Therapeutics lift full-year outlook

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21 Jun 2021 19:27

TRADING UPDATES: Ilika expects revenue slip; SysGroup swings to profit

TRADING UPDATES: Ilika expects revenue slip; SysGroup swings to profit

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21 Jun 2021 09:47

88 Energy agrees sale of Alaskan tax credits to pay down debt

(Sharecast News) - 88 Energy has agreed to the sale of all the Alaskan oil and gas tax credits currently held by its wholly-owned subsidiary Accumulate Energy Alaska, it announced on Monday.

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