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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: 0.1675
Bid: 0.165
Ask: 0.17
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TRADING UPDATES: Angus in Balcombe blow; YouGov buys Canada asset

Tue, 02nd Mar 2021 19:11

(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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Angus Energy PLC - UK-focused onshore oil and gas development company - Notes West Sussex County Council's Planning Committee rejects planning application for an extended well test at Balcombe oil field. Angus says "disappointed" by decision. "The company is presently evaluating all of the options available with its partners," Angus adds.

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YouGov PLC - London-based research data and analytics group - Buys Toronto-based sports research and consulting agency Charlton Insights, boosting YouGov Sport's presence in Canada. Acquisition fee is tied to a "three year earn-out", YouGov adds.

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CloudCall Group PLC - Leicester, England-based provider of unified communications and contact centre software - Receives additional demand so boosts size of fundraising to GBP7.5 million, from GBP7.0 million. Equity raise consists of 8.8 million placing shares and 357,169 shares as part of PrimaryBid offer.

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Next Fifteen Communications Group PLC - London-based digital communication group - To repay GBP1.4 million in furlough money from UK government amid "continued strong trading performance".

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FastForward Innovations Ltd - technology and life sciences sector focused investor - Notes 2.3% owned investee EMMAC Life Sciences sells wellness brands to Yooma Wellness Inc. FastForward has a 9.0% stake in Yooma.

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Vela Technologies PLC - Bingley, England-based company with investments in early-stage disruptive technology businesses - Invests roughly GBP66,000 in Mode Global Holdings PLC, as part of the London-listed fintech firm's GBP6 million placing.

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Warehouse REIT PLC - real estate investment trust focused on warehouse assets - Buys multi-let warehouse estate on Glasgow Airport Business Park for GBP5.3 million, representing net initial yield of 6.3%. "The property generates a net rental income of GBP357,000 per annum," Warehouse REIT adds.

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600 Group PLC - West Yorkshire, England-based manufacturer and distributor of machine tools, precision engineered components and industrial laser systems - Says three US operations granted forgiveness of initial loans under US government's Paycheck Protection Program. Loans amount to USD2.2 million. "Second round funding under the PPP scheme for an additional USD2.2 million has been applied for. From this application, two of the three entities have so far received their allocation, amounting to USD1.6 million, with the remaining USD600,000 expected to be received in the coming weeks," 600 adds. Notes order intake has continued to improve since first Covid-19 outbreak, with February up about 40% annually.

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Coral Products PLC - Merseyside-based supplier of injection moulded plastic products - Completes disposal of Coral Product (Mouldings) Ltd and Interpack Ltd to One51 ES Plastics UK Ltd for GBP7.9 million. Notes as planned, Chief Executive Officer Michael Wood steps down following disposals. Non-Executive Chair Joseph Grimmond becomes executive chair.

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Omega Diagnostics Group PLC - sells wide range of specialist products, primarily in the immunoassay, in-vitro diagnostics market - Lands contract with Screen4 Ltd to provide Covid-19 antibody laboratory-based testing services.

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Quadrise Fuels International PLC - London-based fuel conversion technology firm - Raises GBP6.0 million from placing of 222.2 million shares at 2.7 pence each.

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PureTech Health PLC- Boston, Massachusetts-based biotherapeutics company - Founded entity Karuna Therapeutics, a firm developing medicines for psychiatric and neurological conditions, prices offer of 2.1 million shares at USD120.00 each. To raise about USD250.0 million.

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Castillo Copper Ltd - Australia and Zambia focused base metal explorer - Earmarks "strategic intent" to progress Big One deposit, Australia following " a series of excellent assay results" and global demand for copper. Castillo adds: "Further work is planned to extend known mineralisation and Big One deposit's potential scale, commencing with an induced polarisation survey to identify incremental test-drill targets."

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88 Energy Ltd - Alaska-focused oil producer - Says mobilisation of rig 111 to Merlin-1 location "progressing well" but reports "minor delays" attributed to weather. Spud date scheduled for March 8.

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Serabi Gold PLC - Brazil-focused gold miner - Raises USD17.5 million, about GBP12.5 million, from placing of 16.7 million shares at GBP0.75 each. "The financing completed today creates a strong financial position for Serabi from which we will be able to advance our significant growth opportunities," CEO Mike Hodgson says.

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
24 Apr 2024 14:26

TRADING UPDATES: 88 Energy firms bookbuild; Gama Aviation inks deal

(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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23 Apr 2024 14:00

88 Energy proposes placing to raise up to AUD9.8 million

(Alliance News) - 88 Energy Ltd on Tuesday proposed funds of up to AUD9.8 million, or GBP5.2 million, via a share placing.

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23 Apr 2024 10:21

88 Energy raising AUD 9.8m to strengthen balance sheet

(Sharecast News) - 88 Energy announced its intention to raise up to AUD 9.8m (£5.23m) on Tuesday, to strengthen its balance sheet and provide capital for ongoing projects.

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19 Apr 2024 10:04

IN BRIEF: 88 Energy hails successful flow test at Hickory-1 well

88 Energy Ltd - Alaska-focused oil exploration company - Announces successful flow test at Hickory-1 well in Phoenix Project, Alaska, citing light oil flow from two reservoirs. Says it will search for a farm-out partner to fund the next stage of development of Hickory-1.

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15 Apr 2024 11:36

IN BRIEF: 88 Energy hails second light oil discovery at Hickory-1

88 Energy Ltd - Alaska-focused oil exploration company - Makes second light oil discovery at Hickory-1 reservoir in Phoenix project, Alaska. Says flow test demonstrates a peak flow rate of 50 barrels of oil per day of light oil. Managing Director Ashley Gilbert says: "Having now successfully demonstrated light oil flow from two reservoirs at Hickory-1 in recent weeks, it is clear that this is a significant milestone in the history of 88 Energy. The USFS success represents the first time that we have successfully flowed oil to surface in Alaska - and under natural flow - as well as being the first time we have confirmed a light oil discovery of substantial scale in close proximity to the critical Dalton Highway and Trans-Alaskan pipeline system infrastructure. To then achieve a second successful flow of light oil from the SMD-B reservoir, with a low gas/oil ratio, is an outstanding outcome for 88 Energy and its shareholders."

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2 Apr 2024 12:36

EARNINGS: Capricorn Energy loss narrows; Crystal Amber net assets up

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

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2 Apr 2024 10:50

AIM WINNERS & LOSERS: 88 Energy finds oil at Hickory-1; Redx to delist

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

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25 Mar 2024 17:32

88 Energy updates market on Hickory-1 well in Alaska

(Alliance News) - 88 Energy Ltd on Monday provided shareholders with an update on its ongoing flow testing operations at the Hickory-1 well within its Project Phoenix acreage located on the North Slope of Alaska.

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11 Mar 2024 14:26

IN BRIEF: 88 Energy says operations underway at Hickory-1 well

88 Energy Ltd - Alaska-focused oil exploration company - Says well operations are underway ahead of perforating and flow testing the USFS zone at the Hickory-1 discovery well within its Phoenix project. The testing program is expected to be completed during March 2024.

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28 Feb 2024 18:13

TRADING UPDATES: AB Dynamics trades in line; Verditek sells solar arm

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

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23 Feb 2024 08:59

TRADING UPDATES: Plant Health eyes Mexico Saori launch; NARF wins deal

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

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19 Feb 2024 11:41

IN BRIEF: 88 Energy in final preparations for Hickory-1 flow test

88 Energy Ltd - Alaska-focused oil exploration company - Says flow testing operations are advancing at the Hickory-1 well at the Phoenix project in Alaska. Construction of the ice pad and rig commissioning have been completed, and camps have been mobilised to the Hickory-1 location. Company expects to complete final preparations within the next seven to ten days, including completing rig mobilisation and associated services.

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30 Jan 2024 14:09

IN BRIEF: 88 Energy Hickory-1 well flow test to start in February

88 Energy Ltd - Alaska-focused oil exploration company - Says Hickory-1 well discovery well flow test and stimulation program is set to begin in early February, while rig mobilisation will start in mid-February. Adds that the maiden prospective resource estimate for the Upper Schrader Bluff reservoir in its Leonis project is expected in the first half of 2024.

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12 Jan 2024 15:17

88 Energy gearing up for Hickory-1 flow test

(Sharecast News) - 88 Energy is gearing up for a significant milestone in its operations, it announced on Friday, with the impending Hickory-1 flow test, scheduled to start in mid-February.

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12 Jan 2024 10:11

88 Energy to commence USD11 million Hickory well tests in mid-February

88 Energy Ltd - Alaska-focused oil exploration company - Says it will conduct a flow rate and well stimulation program at its Hickory-1 well, expected to commence in mid-February. Testing for the well, which is located at 88's Phoenix project in Alaska, has a budget of USD11 million and is fully funded according to the company. The Hickory-1 well was first spudded in March and was suspended in April ahead of the upcoming flow tests. The tests' design, planning and logistics are complete, the company says, and permitting is on track for the end of January. Testing will focus on the well's slope fan system and shelf margin deltaic, both of which will be tested separately. The company says that the tests are intended to provide "critical" information for refining the well's development plans, including the reservoirs' durability, fluid compositions, pressures and connectivity.

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