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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
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Low: 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.

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15 Dec 2016 11:24

Petro Matad's reassignment of Shell's Mongolian oil blocks approved

(ShareCast News) - The Mongolian government has approved the reassignment of interests in two oil blocks worth about $15m from Royal Dutch Shell to Petro Matad. The reassignment of blocks four and five were approved, which means that through its wholly-owned affiliate, Central Asian Petroleum Corpor

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9 Dec 2016 14:36

Petro Matad share price plunges

(ShareCast News) - Petro Matad was forced to issue an update on Friday, as its share price plunged more than17%. It confirmed that there was nothing further to update at this stage. The AIM-traded company said it continues to expect that the approval from the Mongolian Government of the reassignmen

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16 Nov 2016 13:06

Petro Matad taps into Mongolian oil field containing up to 23bn barrels

(ShareCast News) - Shares in Petro Matad soared on Wednesday as the oil explorer said it had tapped into a large oil field in Mongolia, which contains between nine and 23bn barrels of oil. The company updated its estimates of undiscovered petroleum resources following interpretation of new and previ

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26 Aug 2016 10:00

Petro Matad's Shell affiliate farm-out exit fee contributed to H1 profit

(ShareCast News) - Mongolian oil explorer Petro Matad reported that the farm-out exit fee received from Royal Dutch Shell's affiliate contributed to the company's interim half year profit. For the six months ended 30 June, the company reported an interim profit of $100,000 in comparison to a $1.74m

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5 Aug 2016 13:13

Petro Matad reaches $10m settlement with Shell's Mongolian affiliate

(ShareCast News) - Petroleum explorer Petro Matad's reached a $10m settlement with Shell's affiliate BG Mongolian Holdings (BGMH). The Mongolian miner reported that Shell's BGMH will pay a farm-out arrangement exit fee of over $10m as well as a further $5m. In June, Petro Matad's affiliate Central

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5 Aug 2016 09:29

WINNERS & LOSERS SUMMARY: Upbeat Bellway Lifts Housebuilding Stocks

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30 Jun 2016 16:11

Petro Matad Loss Narrows; Set For USD10 Million Exit Fee From Shell

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29 Apr 2016 12:18

Shell leaves Petro Matad on its own in Mongolia

(ShareCast News) - Petro Matad revealed it had lost its partner in the Block IV and V production sharing contracts in west and central Mongolia on Friday. The AIM-traded company said that, on 28 April, Shell - through its affiliate company - issued an exit notice to Petro Matad's 100% owned subsidia

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29 Apr 2016 11:31

Petro Matad Expecting "Highly Material" Compensation From Partner

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3 Feb 2016 10:35

WINNERS & LOSERS SUMMARY: Prudential Bounces Back From 2-Year Low

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3 Feb 2016 09:50

Petro Matad Delays Survey And Drilling Plans At Mongolia Project

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29 Oct 2015 09:48

Petro Matad Pleased With Survey Data From Central Mongolia Blocks

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29 Sep 2015 08:46

Petro Matad Loss Narrows As Farm-Out Deal With BG Group Progresses

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13 Aug 2015 10:19

Petro Matad awards Mongolian seismic data contract

(ShareCast News) - Petro Matad has awarded a contract to Khet Co for 2D to gather seismic data in two of its exploration blocks in central Mongolia. The oil exploration company said Khet Co, which is a geophysical contracting company, will carry out a 2D seismic programme of around 2,000 kilometres

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13 Aug 2015 08:19

Petro Matad Awards Mongolian 2D Seismic Data Contract To Khet Co

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