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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: 3.15
Bid: 3.10
Ask: 3.20
Change: 0.00 (0.00%)
Spread: 0.10 (3.226%)
Open: 3.15
High: 3.15
Low: 3.15
Prev. Close: 3.15
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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
20 Sep 2018 12:57

UPDATE: Petro Matad Plunges As It Fails To Find Oil At Snow Leopard

LONDON (Alliance News) - Shares in Petro Matad Ltd fell on Thursday after the oil explorer said it did not find oil or gas accumulations at its Snow Leopard 1 Well, located in were trading down at

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20 Sep 2018 10:59

Petro Matad Plunges As It Fails To Find Oil At Snow Leopard Well

LONDON (Alliance News) - Shares in Petro Matad Ltd fell on Thursday after the oil explorer said it did not find oil or gas accumulations at its Snow Leopard 1 Well, located in were trading down at

Read more
20 Sep 2018 10:30

WINNERS & LOSERS SUMMARY: Rio Tinto Up On Plan To Return Sale Proceeds

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Thursday.----------FTSE 100 - WINNERS----------Rio up 1.9%.

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7 Sep 2018 10:41

Petro Matad losses widen as it cashes up for planned operations

(Sharecast News) - Mongolian oil explorer Petro Matad released its unaudited interim results for the six months ended 30 June on Friday, reporting a loss of $6.65m, widening from $2.52m for the comparable period last year.

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7 Sep 2018 10:15

Petro Matad Loss Widens, Contractor Issues Delay Block XX Drilling

LONDON (Alliance News) - Mongolia-focused oil explorer Petro Matad on Friday said its loss widened in the fist half of the year on a range of increased expenses.The company's USD6.7 was

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24 Jul 2018 12:44

Petro Matad Non-Executive Director Oyungerel Janchiv Steps Down

LONDON (Alliance News) - Petro Matad Ltd on Tuesday said Non-Executive Director Oyungerel Janchiv intends to retire after the annual general meeting scheduled on September 20 to spend more time in

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14 Jun 2018 11:32

Petro Matad Successfully Raises Cash To Fund Mongolian Drilling (ALLISS)

LONDON (Alliance News) - Mongolian oil explorer Petro Matad Ltd on Thursday said it has completed its previously announced share placing, which it said was "significantly" company had on

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13 Jun 2018 17:16

Petro Matad To Raise Gross USD18.3 Million To Fund New Wells (ALLISS)

LONDON (Alliance News) - Petro Matad Ltd said Wednesday it aims to raise USD18.3 million through shares placing and a subscription.Net proceeds from the an accelerated bookbuild are to be a

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4 Jun 2018 11:09

Petro Matad Loss Narrows Despite Delaying First Drilling Operation

LONDON (Alliance News) - Petro Matad Ltd said Monday its 2017 loss narrowed despite the company failing to complete its first drilling operation in six years.The Mongolian oil explorer loss

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14 May 2018 11:59

Petro Matad Starts Mobilisation For Snow Leopard Drilling Amid Delays

LONDON (Alliance News) - Petro Matad Ltd said Monday it is close to securing permits for the Wild Horse 1 well, while the Snow Leopard 1 well spudding experienced delays.The Wild Horse 1 1

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20 Mar 2018 17:29

Petro Matad drills into Mongolia - last frontier for onshore oil

* Same geology as prolific oil basins in China * Mongolia will need crude for planned refinery By Barbara March 20 (Reuters) - Petro Matad a

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27 Jan 2017 16:10

Petro Matad issues drilling rig tender

(ShareCast News) - Petro Matad updated the market on Friday, announcing that it has issued a tender for a drilling rig and related services, in preparation for its drilling programme in Blocks IV and V, which is expected to commence in mid-2017. The AIM-traded firm said that in 2016, it pre-qualifie

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18 Jan 2017 09:49

Petro Matad Expects Shell Payment Within Next 10 Days

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12 Jan 2017 14:31

Petro Matad says nothing further to update on as stock jumps

(ShareCast News) - AIM-listed exploration company Petro Matad noted the jump in its share price on Thursday and confirmed there was nothing further to update the market on since its statement on Tuesday. Earlier in the week, Petro said the $5m payment due from Shell following the approval by the Mon

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12 Jan 2017 14:08

Petro Matad Notes Share Price Move, Says No Further Update

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