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Pin to quick picks88 Energy Share News (88E)

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AIM WINNERS & LOSERS: TP Group slips as Science Group deal falters

Mon, 16th Aug 2021 11:06

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

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AIM - WINNERS

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BlueRock Diamonds PLC, up 11% at 45.00 pence, 12-month range 40.00p-63.50p. The South African-focused diamond miner discovers 58.6 carat stone at the Kareevlei diamond mine. Company expects sales value of the diamond to be "significant". Executive Chair Mike Houston says: "This is a very important discovery for BlueRock as it supports the 'size frequency distribution charts' that indicate our pipes will deliver large high-value diamonds along with the highly sought after 'run of mine' parcel of diamonds which have secured values of over USD400 per carat in 2021." Notes this is largest stone recovered in 2021.

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88 Energy Ltd, up 9.5% at 2.59 pence, 12-month range 0.27p-4.05p. The Alaska-focused oil exploration and appraisal company says Merlin-1 well successfully demonstrates the presence of oil in multiple stacked sequences in the Cretaceous Nanushuk Formation, which includes the N20 and N18 targets. Adds an additional new target, the N19 sand, that was not previously mapped, also returned a "strong" hydrocarbon signature following geochemical analysis. "Wireline analysis and core data correlate to 41 feet of net log pay across the 3 reservoir intervals. In addition, results of the post well formation evaluation, including core and reservoir description tool data have determined the presence of moveable hydrocarbons. Geochemical analysis of the cores has determined the presence of a light oil with an estimated API gravity between mid-30 to low-40 API," 88 Energy explains.

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Cellular Goods PLC, up 4.4% at 7.20 pence, 12-month range 6.15p-19.00p. Signs "multi-year" manufacturing and supply agreement with Chanelle McCoy Health Ltd for ingestible products. Pure cannabinoid products provider Chanelle McCoy Health to supply Cellular with three CBD ingestibles which will go on sale under Cellular Goods branding in UK first, then continental Europe in 2022.

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Tekmar Group PLC, up 4.0% at 52.00 pence, 12-month range 41.80-109.00p. The provider of technology and services for offshore energy markets signs memorandum of understanding with DeepWater Buoyancy Inc to form partnership to enhance their offshore energy project capability. "The partnership is focused on the new and emerging floating offshore wind market which has an exponential growth forecast of 10GW installed capacity by 2030. Tekmar and DeepWater Buoyancy will provide greater value across the life of a floating wind project by offering a collective package of geotechnical assessment and engineering analysis, cable and mooring system design, cable protection and stabilisation solutions, cable buoyancy, and mooring line buoyancy," Tekmar explains.

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AIM - LOSERS

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TP Group PLC, down 6.0% at 4.98 pence, 12-month range 3.18p-7.50p. The engineering firm rejects a takeover approach from Science Group PLC. Science Group says "obstructive approach of the TP Group board is indefensible". "For the avoidance of any doubt, Science Group has not withdrawn its interest in potentially making an offer for TP Group. However while Science Group believes there are considerable benefits for all stakeholders from a combination of the organisations, with the uncertain financial position of TP Group, it is unlikely that Science Group will be able to make an offer if the TP Group board continue to refuse to cooperate," Science Group says. Science Group is third-largest shareholder in TP Group after last Tuesday, when Science Group purchased 79.3 million TP Group shares - or 10% of the company's issued share capital - on the open market. Science Group shares are trading unchanged.

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By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
8 Jan 2024 16:15

UK shareholder meetings calendar

Tuesday 9 January 
Agriterra LtdAGM
DX Group PLCGM re acquisition by HIG Capital funds
GENinCode PLCGM re fundraise
Leeds Group PLCGM re sale of subsidiary Hemmers-Itex
Smart Metering Systems PLCGM re acquisition by KKR funds
Wednesday 10 January 
Hummingbird Resources PLCGM re share placement
Ironveld PLCAGM
Reabold Resources PLCGM re appointment of new directors
Safestyle UK PLCEGM re approve winding up of company
Scirocco Energy PLCGM re proposed disposal of interests in Energy Acquisitions Group Ltd
Versarien PLCGM re capital reorganisation
Thursday 11 January 
Pennpetro Energy PLCAGM
R&Q Insurance Holdings LtdGM re sale of Accredited to Onex Corp
Ten Entertainment Group PLCGM re takeover by Trive funds
Friday 12 January 
Ashington Innovation PLCAGM
Dukemount Capital PLCAGM
Monday 15 January 
88 Energy LtdGM re fundraising
Mondi PLCGM re special dividend
SRT Marine Systems PLCGM re fundraising
Strip Tinning Holdings PLCGM re fundraising
  
Copyright 2024 Alliance News Ltd. All Rights Reserved. 

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15 Dec 2023 16:58

TRADING UPDATES: 88 Energy expands Texas footprint with acquisitions

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

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15 Dec 2023 11:26

88 Energy secures new Texas acreage

(Sharecast News) - 88 Energy announced the acquisition of additional oil and gas production assets in the Texas Permian Basin on Friday, marking a significant expansion of its regional footprint.

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5 Dec 2023 20:01

EARNINGS AND TRADING: Lowland Investment NAV falls but dividend hiked

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

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29 Nov 2023 14:30

EARNINGS AND TRADING: Northern Bear boosts profit, Esken loss widens

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

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28 Nov 2023 16:53

TRADING UPDATES: Upland Resources completes technical study at Sarawak

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

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13 Nov 2023 21:58

TRADING UPDATES: 88 Energy signs farm-in deal with Monitor Exploration

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

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6 Nov 2023 17:07

IN BRIEF: 88 Energy pleased with maiden contingent resource estimate

88 Energy Ltd - Alaska-focused oil and gas company based in Subiaco, Western Australia - Says the maiden independent contingent resource estimate has been completed at Project Phoenix for the Basin Floor Fan reservoir. Reports a gross best estimate contingent resource of 250 million barrels of oil equivalent from the deepest reservoir encountered in Hickory-1. Explains that contingent resources were defined on the basis of multiple successful flow tests conducted in the BFF reservoir on adjacent acreage and clear reservoir continuity demonstrated through high quality seismic data.

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31 Oct 2023 19:04

TRADING UPDATES: CPP reports new business wins for Blink division

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

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30 Oct 2023 14:15

IN BRIEF: 88 Energy gears up for Phoenix reservoir resource estimate

88 Energy Ltd - Alaska-focused oil and gas company based in Subiaco, Western Australia - Appoints independent consultants Netherland, Sewell & Associates, Inc to conduct a contingent resource estimate on the Basin Floor Fan reservoir at Project Phoenix on Alaska's Central North Slope. News follows Pantheon Resources PLC declaring a significant contingent resource for the Lower BFF reservoir. 88 says BFF was the deepest hydrocarbon-bearing pay zone intersected during drilling and logging of the Hickory-1 exploration well. Says NSAI's assessment, based on results from Hickory-1 and nearby offset wells, may lead to Hickory-1 being confirmed as a discovery. NSAI has starting reviewing and integrating existing data from all reservours.

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12 Oct 2023 16:14

TRADING UPDATES: 88 Energy targets flow test for Phoenix in 2024

(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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21 Sep 2023 12:12

TRADING UPDATES: Faron appoints Birge Berns as interim medical officer

(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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8 Sep 2023 10:54

88 Energy narrows loss, draws on cash balance for Hickory project

(Alliance News) - 88 Energy Ltd on Friday said it reduced its interim loss in part from reduced exploration impairments, and it is optimistic about scheduled tests in Alaska.

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30 Aug 2023 18:37

IN BRIEF: 88 Energy completes shortfall offer placement

88 Energy Ltd - Alaska-focused oil explorer - Completes shortfall offer placement from the non-renounceable rights issue at an issue price of AUD0.006 per share. The rights issue closed on August 22 with the company issuing around 553 million new shares. As a result of the strong inbound demand received from other investors during the rights issue and subsequent shortfall offer process, company has received firm commitments to place in full all new shares not taken up in the rights issue, representing around 1.46 billion shares.

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29 Aug 2023 10:45

88 Energy completes rights issue, announces GBP5 million placing

(Alliance News) - 88 Energy Ltd on Tuesday said it completed its latest rights issue and proposed a placing of over one billion shares to fund its exploration activity.

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