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Pin to quick picksBlock Energy P. Share News (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.

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Block Energy Promotes Financial Manager McAvock As Finance Chief

(Alliance News) - Georgia-focused oil & gas company Block Energy PLC said Tuesday it has promoted Finance Manager William McAvock to chief financial officer.McAvock has been part of and

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29 Aug 2019 10:57

Block Energy Reports Mobilisation Of Drilling Rig To 38Z Well

(Alliance News) - Block Energy PLC on Thursday said a drilling rig was mobilised to the site of well 38Z at the West Rustavi field in Georgia, in preparation for planned horizontal sidetrack and a

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29 Aug 2019 08:47

Block Energy mobilises drilling rig for next well at West Rustavi

(Sharecast News) - Georgia-focussed exploration and production company Block Energy announced the mobilisation of a ZJ40 drilling rig to the site of well 38Z at its flagship West Rustavi field on Thursday, in preparation for planned horizontal sidetrack operations.

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8 Aug 2019 11:59

Block Energy Gets Rig Moving Ahead Of West Rustavi Sidetrack Drilling

LONDON (Alliance News) - Georgia-focused Block Energy PLC on Thursday said the rig to be used in drilling in the country has now been mobilised.The rig is to drill a sidetrack on well 38Z,

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26 Jul 2019 11:52

Block Energy Resumes Production At Flagship West Rustavi Well

(Alliance News) - Shares in Block Energy PLC fell sharply Friday as it resumed production at one of the wells at its flagship West Rustavi oil field in Georgia.Shares in Block Energy were a

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15 Jul 2019 15:31

Block Energy West Rustavi Working Interest Now 100%

(Alliance News) - Block Energy PLC said Monday its working interest in the West Rustavi licence, in Georgia, has increased to 100%.The increase, from 71.5% and originally from 25%, follows

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8 Jul 2019 14:25

Block Energy Secures Drilling Equipment For West Rustavi Operations

(Alliance News) - Block Energy PLC has secured workover machinery for its 2019/2020 drilling programmes, the Georgia-focused oil and gas exploration company said Monday.The company agreed a

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1 Jul 2019 11:50

Block Energy Agrees Storage Deal With Georgia's State Oil Firm

(Alliance News) - Block Energy PLC will now be able to get a Georgian well onto full production, it said Monday, after signing an oil storage deal.The agreement has been signed with Oil Gas

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