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Pin to quick picksPetro Matad Share News (MATD)

Share Price Information for Petro Matad (MATD)

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Share Price: 3.00
Bid: 2.80
Ask: 3.20
Change: 0.10 (3.45%)
Spread: 0.40 (14.286%)
Open: 2.85
High: 3.10
Low: 2.85
Prev. Close: 2.90
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AIM WINNERS & LOSERS: Helium One surges on rig purchase for Rukwa

Mon, 10th Jul 2023 10:26

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

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AIM - WINNERS

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Helium One Global Ltd, up 43% at 7.28 pence, 12-month range 4.32p-9.3p. The Tanzania-focused helium explorer acquires an Epiroc Predator 220 drilling rig for use at its Rukwa project. Will use the rig to drill the Tai-C well in the third quarter of 2023, and is targeting a spud date in September. Says ownership of the rig means it can quickly move to the appraisal phase after drilling Tai-C, enabling accelerated exploration at its Rukwa, Eyasi and Balangida projects. Doesn't name the seller of the rig, nor say how much it paid for it. On Friday, the firm had issued its drilling contractor with a rectification notice, amid continuing concerns about the lack of operational and contractual progress regarding its letter of intent. It had said it was reviewing and progressing a number of "alternative options".

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Knights Group Holdings PLC, up 6.0% at 67.64p, 12-month range 60.45p-142p. The legal and professional services firm posts double digit annual growth, alongside a cheery outlook. For the financial year ended April 30, pretax rises 19% year-on-year to GBP21.6 million from GBP1.1 million, while revenue rises 13% to GBP142.1 million from GBP125.6 million. While revenue growth is largely the result of recent acquisitions, the firm expects a return to organic growth in financial 2024. Cites a strong start to the year, despite ongoing macroeconomic uncertainty. "We remain confident in our strategy and our ability to deliver profitable, cash generative growth," says CEO David Beech.

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AIM - LOSERS

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Totally PLC, down 22% at 13.2p, 12-month range 12.2p-48p. The frontline healthcare services provider reports annual results for the financial year ended March 31, guiding for a weaker revenue performance in the year ahead. Revenue rises 6.5% year-on-year to GBP135.7 million from GBP127.4 million, while pretax profit jumps 42% to GBP1.8 million from GBP1.2 million. It proposes a final dividend of 0.125 pence, bringing the annual total to 0.625p, down from 1.00p a year before. However, expects revenue in the current financial year to be lower, with earnings before interest, tax, depreciation and amortisation to be "marginally below" the previous year. This reflects "increasingly challenging operating conditions", as well as "improved margins driven by higher volumes in elective care". "The board are confident that the actions and strategy put in place over the past 12 months will ensure the company remains in a strong position to continue to grow significantly over the coming years," it says.

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Petro Matad Ltd, down 15% at 4.13p, 12-month range 1.6p-7.1p. The Douglas, Isle of Man-based petroleum exploration company says the Velociraptor-1 exploration well in the Taats Basin of Block V located in central Mongolia reached a total depth of 1,500 metres with wireline logging completed. However, all the reservoirs encountered were water bearing, the company says. The well will now be plugged and abandoned. The results are "obviously disappointing", says CEO Mike Buck, but "such high impact targets, drillable at modest well cost cannot be ignored when exploring frontier area".

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By Elizabeth Winter, Alliance News senior markets reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
30 Aug 2011 08:50

Drilling disappointment for Petro Matad

Shares in oil explorer Petro Matad took a sharp dive after it reported disappointing testing results from its operations in eastern Mongolia. The test on its DT-1 well at the Davsan Tolgoi project was judged to be a failure. "The failure of the DT-1 test, due to mechanical issues is considered to

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22 Aug 2011 13:18

It's good news for Petro Matad

Petro Matad has achieved success at its latest well which has reached a depth of 1,766m. The Davsan Tolgoi-9 well (DT-9) penetrated the top of the Lower Tsagaantsav rocks at 1,596m where it encountered sandstone with live oil shows. "The well drilled a 132m gross thickness of Lower Tsagaantsav,

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21 Jun 2011 08:54

Petro Matad posts wider net loss, shares slide

Mongolian oil explorer Petro Matad reported a wider full-year net loss due to soaring exploration expenses, sending its shares tumbling more than 4%. For the year ended 31 December, the company posted a net loss of $16.1m (£9.95m), compared with a net loss of $5.1m, a year earlier. Overall expense

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21 Mar 2011 13:59

Petro Matad increases resource

Shares in AIM-quoted oil and gas explorer Petro Matad have jumped by more than one-third after the Mongolia-focused explorer said that the reinterpretation of its seismic data had led to an increase in the resources of the Davsan Tolgoi prospects. Petro Matad drilled three wells on the Davsan Tolg

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11 Mar 2011 10:28

Small cap round up: Maintel, GMA Resources, Petro Matad...

Maintel, the supplier of telecoms products and services to businesses, posted a decent rise in profits last year as sales picked up following a tough 2009, but predicts a difficult 2011. Pre-tax profits in the year to 31 December climbed by 12% from 2009 to £2.673m, on revenues that were up 13% at

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3 Dec 2010 14:30

Petro Matad suspends drilling

Shares in Petro Matad have fallen by nearly 10% after it said that it is suspending drilling at the Davsan Tolgoi-4 well in Mongolia. The drilling rig being used is at the limit of its tolerances because of low temperatures. Of drilling continued then it could have ended up creating problems The

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18 Oct 2010 11:34

Small caps round-up: Agriterra, Cohort, GB...

Agriterra, focussed on the agricultural sector in central and southern Africa, is making "fantastic" progress, announcing record buying and sales of maize in Mozambique. Sales soared 174% in May, they were up 208% in June, 149% in July and have more than doubled in August and September. Milling ope

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21 Sep 2010 09:00

Oil cos. round-up: Petro Matad, Faroe, Amerisur

Mongolia-focused oil explorer Petro Matad ran into mechanical problems with the drilling of its Davsan Tolgoi-2 well but said operations are now progressing normally. Currently the well is at the intermediate casing point, matching the pre-drilling prognosis, of 1,091.5 metres below surface. The

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16 Sep 2010 15:04

Small Caps round-up: Petro Matad, JSM Indochina, Work Group....

Mongolia-focused oil explorer Petro Matad is raising $46.8m from a share issue at 135p ($2.08) a share. The cash will be used to accelerate its drilling programme to four wells, invest in further seismic data and investigate additional exploration activities in Mongolia. The European Bank for Recons

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30 Jul 2010 13:31

Petro Matad Davasan Logs Confirm Earlier Results

LONDON (Dow Jones)--Petro Matad Limited (MATD.LN) said Friday wireline logging, casing and cementing operations have been undertaken at its Davsan Tolgoi-1 exploration well and initial petrophysical analysis of the Weatherford wireline logs confirm earlier reported results from the drilling shows.

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20 Jul 2010 16:36

Barton adds to C&W Worldwide stake

Cable & Wireless Worldwide's deputy chairman has taken advantage of the share price slump following the telecoms services provider's profit warning. John Barton and his wife Anne have each bought 25,000 shares at 69.2p each. The total investment was £34,600. He bought 50,000 shares in March at 9

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15 Jul 2010 14:57

Petro Matad DT-1 Well At Final Depth Of 1,220 Meters On July 14

LONDON (Dow Jones)--The Petro Matad Ltd (MATD.LN), an oil exploration company said Thursday that Davsan Tolgoi-1 or DT-1 exploration well reached a final measured depth of 1,220 meters on July 14. MAIN FACTS: -The well passed through the Tsagaantsav formation from 1,075 meters to 1,146 meter

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13 Jul 2010 11:20

Petro Matad Operations At Davsan Tolgoi-1 Well Progressing Well

LONDON (Dow Jones)--Petro Matad Limited (MATD.LN), an oil exploration company with operations in Mongolia, announced Tuesday for the Davsan Tolgoi-1 or DT-1 exploration well that drilling is progressing well. MAIN FACTS: -DT-1 is currently drilling with oil shows in what is interpreted to be

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24 Jun 2010 10:58

Petro Matad FY Pretax Loss $5.08M Vs Loss $6.28M

LONDON (Dow Jones)--Petro Matad Ltd. (MATD.LN), an AIM quoted Mongolian oil explorer, Thursday reported a full year pretax loss of $5.08 million, compared with a loss of $6.28 million a year earlier. MAIN FACTS: -Loss per share for the year ended Dec. 31 4.7 cents (2008: loss 7.6 cents)

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23 Jun 2010 07:36

Petro Matad Davsan Tolgoi-1 Well Spudded >MATD.LN

LONDON (Dow Jones)--Petro Matad Ltd. (MATD.LN), an oil exploration company, said Wednesday the Davsan Tolgoi-1 exploration well in Mongolia has been spudded. MAIN FACTS: -The DT-1 well is being drilled vertically to an estimated target depth of approximately 1,440 meters. -The well is be

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