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(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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Oilex Ltd, up 52% at 0.25 pence, 12-month range 0.06p-0.25p. The Australian oil & gas exploration and production company says GSPC has provided notification that it has approved the sale of its 55% participating interest in the Cambay PSC to Oilex for USD2.2 million. The transaction has also received the approval of the state government of Gujarat and following completion, Oilex will hold a 100% participating interest in the Cambay PSC. "We are pleased that Oilex and GSPC have been able to work together to agree this outcome and in doing so a major milestone has been achieved by the company in the face of many challenges. The long-awaited resolution provides the company with a pathway to evaluate the significant gas resource potential identified at Cambay," says Managing Director Joe Salomon.
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PetroNeft Resources PLC, up 40% at 2.45p, 12-month range 0.5p-3.68p. The Russia-focused oil & gas exploration and production company says total of USD2.7 million of debt converted to equity under three historic convertible loan agreements for the issuance of 115.8 million new shares. "We are very pleased to be able to announce exercise of these conversion rights as it reduces the level of debt of the company by a substantial amount and at the same time demonstrating significant support by the lenders which includes our two largest shareholders along with board directors and senior management," says Chief Executive David Sturt.
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Victoria Oil & Gas PLC, up 15% at 4.49p, 12-month range 1.85p-8.15p. The natural gas producing utility says recent weekday production at Cameroon operations has been 5.5 to 6.0 million standard cubic feet per day gross gas, but with the usual daily and weekly fluctuations, with one customer returning having paid off aged debt, and one customer increasing its consumption for both power and thermal. Adds that at Matanda, well planning, procurement of long lead items and rig selection are underway, and the farmout process has been started with several parties registering interest.
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AIM - LOSERS
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Proteome Sciences PLC, down 16% at 4.23p, 12-month range 2.64p-7p. The drug development services provider reports revenue of GBP4.8 million for 2020, up slightly from GBP4.7 million the year before, and swings to pretax profit of GBP245,000 from loss of GBP36,000. The stock is still up 14% in the year-to-date.
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Braveheart Investment Group PLC, down 9.2% at 64p, 12-month range 1.88p-140.2p. Says Chief Executive Trevor Brown sold 2.2 million shares a 74.77p each across Tuesday and Wednesday, with the sale worth GBP1.7 million. He now holds 5.4 million shares, just over a 14% stake.
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By Lucy Heming;Â lucyheming@alliancenews.com
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