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Pin to quick picksBlock Energy P. Share News (BLOE)

Share Price Information for Block Energy P. (BLOE)

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AIM WINNERS & LOSERS: SIMEC Atlantis tumbles on Uskmouth project delay

Thu, 07th Oct 2021 10:52

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

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AIM - WINNERS

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Sosandar PLC, up 20% at 30.3 pence, 12-month range 13.2p-36.8p. The online fashion brand reports surge in revenue to GBP12.2 million for six months to September 30, nearly triple that reported a year ago amid a record revenue month in September. Also reports "continued improvement in Ebitda loss". Hasn't experienced any material hit from supply chain disruption and is well stocked for autumn. "Despite the external pressures, with a strong first half and a record start to autumn trading the outlook for Sosandar is very positive. The board therefore expects results for the full year to be in line with market expectations," it says.

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Hardide PLC, up 13% at 35.00p, 12-month range 23.05p-44p. The surface coating technology developer says value of orders received in second half of financial year ended September 30 is GBP2.5 million, up 52% on those received in first half, though significant proportion of this will be recognised as revenue in the start of the 2022 financial year. "The board is looking forward to an improved performance in FY22 and providing further updates on the various exciting projects in progress," Chair Robert Goddard says.

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Sureserve Group PLC, up 12% at 78.55p, 12-month range 45p-100.49p. The compliance and energy services firm expects results for financial year to September 30 in line with management expectations amid "strong growth" in revenue, earnings and cash flow. Order book up more than 30% on the GBP356 million reported at end of previous financial year.

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AIM - LOSERS

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SIMEC Atlantis Energy Ltd, down 36% at 1.475p, 12-month range 1.2p-26.9p. Says Welsh government will now itself decide on permit variation application for the conversion of the Uskmouth power station and has blocked Natural Resources Wales - which had previously indicated that it was minded to award the variation to the permit - from making a determination. Says "further delay" is a blow, and the government is putting project at risk. "SAE will consider all available legal options and will seek to ensure that the Welsh government understands how critical this project is to South Wales, Newport, to key industries and the hundreds of employees whose jobs are at risk," it says.

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Block Energy PLC, down 23% at 1.775p, 12-month range 1.52p-5.59p. Third quarter production is 34.6 million barrels of oil equivalent, down from 42.6 million barrels in the second quarter. "Production during Q3 includes the resumption of production from well WR-16aZ, following successful installation of a sucker rod pump, but this was more than offset by the decline from well WR-38Z," Block explains says.

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Mercantile Ports & Logistics Ltd, down 14% at 31.00p, 12-month range 6.06p-95p. The Indian port and logistics facility developer and operator's revenue for 2020 rises to GBP745,000 from GBP30,000 in 2019, but pretax loss widens to GBP6.1 million from GBP5.0 million.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
23 Jan 2019 16:00

Block Energy launches two-well sidetracking programme

(Sharecast News) - Block Energy rose on Wednesday after beginning sidetrack operations in the existing 16a wellbore at its West Rustavi field in the Republic of Georgia.

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23 Jan 2019 09:48

Block Energy Kicks Off Sidetrack Drilling Work At Georgian Well

LONDON (Alliance News) - Block Energy PLC on Wednesday started sidetrack drilling on the 16a well on Georgia's West Rustavi field, the company said.This is part of a two-well sidetrack

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14 Jan 2019 16:09

Block Energy aims for 900bopd after "excellent" production results at new well

(Sharecast News) - Georgia-focussed oil and gas company Block Energy lauded its "excellent" initial production results from well-44 on its Norio Field, on Monday.

Read more
14 Jan 2019 14:22

Block Energy Rises On Positive Results From Work At Norio Well

LONDON (Alliance News) - Block Energy PLC on Monday reported "excellent" results from its Norio 44 well as the company recovered 45 barrels of oil during a five-hour period.The as

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20 Dec 2018 10:44

Block Energy CEO confident on hitting break-even production rates

(Sharecast News) - Georgian-focused oil and gas company Block Energy was confident it would be able to reach breakeven production rates at all of its three licenses in the near-term, allowing it to transform itself into a "highly profitable oil and gas company".

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14 Dec 2018 12:31

Block Energy makes decent recovery at West Rustavi

(Sharecast News) - Georgia-focussed exploration and production company Block Energy announced on Friday that more than 200 barrels of oil had been recovered from the legacy vertical well 16a at its West Rustavi permit during a 10 hour flow period.

Read more
11 Dec 2018 12:20

Block Energy Signs Deal For Downhole Perforation Tech Provision

LONDON (Alliance News) - Block Energy PLC said Tuesday that it inked a service deal for the provision of an advanced downhole perforation technology.The agreement gives the company access a

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5 Dec 2018 09:55

Block Energy working on 25-fold production increase at Norio

(Sharecast News) - Georgia-focussed exploration and production company Block Energy updated the market on its initial work programme on Wednesday, with the focus on achieving a 25-fold increase in production at its Norio oil field to 250 barrels of oil per day (bopd) by the first half of 2019.

Read more
5 Dec 2018 09:50

Block Energy Successfully Re-Enters 3 Wells At Norio Field In Georgia

LONDON (Alliance News) - Block Energy PLC said Wednesday it successfully re-entered three wells on the Norio field in Georgia and is rigging up at a fourth.Shares in the Georgia-focused and

Read more
22 Nov 2018 17:49

BlocK Energy Posts Widened Annual Loss In First Results Since IPO

LONDON (Alliance News) - Oil company Block Energy PLC on Thursday reported its maiden preliminary results following its AIM initial public offering in June, recording a significantly wider in up a

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20 Nov 2018 12:01

Mayan Energy Nets GBP200,000 From Stake Sale In Block Energy (ALLISS)

LONDON (Alliance News) - Oil and gas company Mayan Energy Ltd said Tuesday it has sold its 3.29% interest in Georgia-focused explorer Block Energy PLC, netting GBP203,213.Proceeds from the

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15 Oct 2018 17:50

UPDATE: Block Energy Begins Workover At Norio Oil Field In Georgia

LONDON (Alliance News) - Block Energy PLC on Monday said it started a fully funded workover programme at its Norio oil field in Georgia, eastern Europe, to scale up production rapidly by the end a

Read more
15 Oct 2018 11:08

Block Energy Begins Workover Campaign At Norio Oil Field In Georgia

LONDON (Alliance News) - Block Energy PLC on Monday said it started a fully funded workover programme at its Norio oil field in Georgia to scale up production rapidly by the end of 2018.The

Read more
5 Oct 2018 09:20

Block Energy Signs Preliminary Gas Offtake Agreement In Georgia

LONDON (Alliance News) - Georgia-focused Block Energy PLC said Friday it has signed a memorandum of understanding for a gas offtake agreement in the country.The memorandum, signed with gas

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2 Oct 2018 11:29

Block Energy Appoints Christopher Brown As Non-Executive Director

LONDON (Alliance News) - Block Energy PLC said Tuesday it appointed Chris Brown as non-executive director of the company with immediate effect.Brown is currently a director at Montblanc Oil

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