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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.
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AIM - WINNERS
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Ascent Resources PLC, up 7.3% at 4.13p, 12-month range 2.81p-5.36p. The natural resources company receives first payment from its Slovenian joint venture partner, following a dispute over revenue recognition. Ascent said it has received its first net cash payment of EUR650,560, in relation to the period from April 2020 through to December 2021. The net payment is calculated as EUR832,168 less EUR180,607 of joint venture costs relating to historic concession and legal fees, the company explains. The second and final payment, totalling a further net cash payment of EUR857,617, is expected "shortly".
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Eco Atlantic Oil & Gas Ltd, up 2.3% at 29.25p, 12-month range 17.38p-43.40p. The oil and gas exploration company says the rig owned by Island Drilling Company AS, has been released and mobilised for Gazania-1 in South Africa. Says the rig is now under contract to Eco and its joint venture partners. Eco adds the rig is expected to arrive and spud by the end of September this year. Says the Gazania-1 prospect is targeting a 300 million barrels light oil resource. It will take up about 25 days to drill.
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AIM - LOSERS
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Jadestone Energy PLC, down 9.3% at 90.75p, 12-month range 71.01p-110.00p. The oil and gas development company cuts annual guidance as it continues with repair works at its Monataro asset, offshore Australia. It has shut production down at Monataro to complete repair work. It expects production to be down during the remainder of August and potentially through September. It is now guiding for 2022 production to average between 13,000 and 14,000 barrels of oil per day, down from previous guidance of 15,500 barrels.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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