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AIM WINNERS & LOSERS: Helium One drilling finds elevated helium shows

Thu, 25th Jan 2024 10:30

(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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Helium One Global Ltd, up 56% at 0.3 pence, 12-month range 0.18p-10.3p. The primary helium explorer says its Itumbula West-1 well in Tanzania has successfully reached a total depth of 961 metres. Elevated helium shows, which were twenty times above background, were consistently measured while drilling the Lake Beds Formation, Red Sandstone Group, Karoo Group and Basement targets. "The initial results from the Itumbula West-1 well are very positive. We have encountered elevated helium shows, as the team had anticipated pre-drill, all the way to Basement. The wireline logs are the crucial next step in identifying which intervals we will test and sample for further evaluation," says Chief Executive Officer Lorna Blaisse.

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United Oil & Gas PLC, up 11% at 0.38p, 12-month range 0.3p-2.2p. The oil and gas company focused on Egypt, the UK and Jamaica receives a two-year extension to its Jamaican Walton Morant licence until January 2026. Over the next two years, UOG will undertake further technical studies with the goal of de-risking the petroleum system, and better defining the identified prospects and leads. "With the licence extension confirmed, United can now build confidently on the farmout process carried out to date and re-engage with the recent positive interest that has been shown by other parties in participating in this high impact exploration opportunity, in a region with immense potential," UOG adds.

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AIM - LOSERS

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Petards Group PLC, down 36% at 2.51p, 12-month range 2.13p-12p. The technology company that develops security and surveillance applications warns its trading in 2023 is likely to be below its expectations. It expects to report revenue of GBP9.4 million, falling year-on-year from GBP10.9 million. The figure is about 3% lower than market expectations, Petards says. More positively, it expects gross margin to be slightly above the 47.3% reported in its interim results. Says it is confident of taking advantage of opportunities and delivering improved trading in 2024.

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By Elizabeth Winter, Alliance News deputy news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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