(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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Corcel PLC, up 16% at 1.89 pence, 12-month range 0.7p-2.42p. Buys 40% stake in "shovel ready" Tring Road 50 megawatt gas peaking project outside of Aylesbury, England, from Arlington Energy Ltd. Purchase consideration is GBP400,000, to be satisfied by GBP150,000 in cash and 12.0 million new shares. "This is a highly significant milestone for Corcel. The addition of the 'shovel ready' Tring Road project to our existing Burwell project dramatically bolsters our position in the increasingly competitive flexible energy space here in the UK," says Chief Executive Scott Kaintz.
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Petro Matad, up 14% at 5.83p, 12-month range 2.16p-6.15p. Says Mineral Resources Professional Council will approve company's Heron field plan of development once certain technical clarifications have been provided and any resulting amendments to the documentation deemed necessary have been made. "With the recent relaxation of lockdown restrictions in Mongolia, the company is now in discussion with MRPC's designated officials to clarify the points raised in order to secure MRPC written approval of the Plan of Development," says Petro Matad.
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President Energy PLC, up 12% at 2.47p, 12-month range 1.1p-2.89p. The energy company says EV-1002, a new gas well as the Estancia Vieja field, has been successfully drilled, logged and cased on time and budget. Adds that LB-1002 well has now been placed on production and is performing better than pre-drilling expectations. Further, company says that average oil prices realised for first five months of 2021 are running 35% higher than for the full-year 2020. Gas prices also running higher.
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AIM - LOSERS
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Hurricane Energy PLC, down 9.7% at 0.7651p, 12-month range 0.72p-12.7p. The oil & gas company says average oil production rate for April at Lancaster field, located west of Shetland, Scotland, was lower than prior months. Output during April was 303,000 barrels from the P6 well and just 19,000 barrels from the 205/21a-7z well. This was lower than prior months, Hurricane Energy says, as the P6 well was producing on a standalone basis in line with the company's near-term production strategy. The P7z well produced for only nine days in the month for the purpose of well testing.
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Physiomics PLC, down 7.0% at 5.95p, 12-month range 3.55p-17.25p. Says results for current financial year to be below market expectations due to both pandemic-related project delays and an "increased focus on longer-term value-generating activities". Total income for year to June 30 to be in range of GBP700,000 to GBP800,000 and loss after tax around GBP170,000 to GBP200,000. "The pharmaceuticals and biotech industry has weathered the Covid storm better than many other sectors and industries, however it is not immune, and it is well known that trial delays have been a knock-on effect. We believe the impact on Physiomics will be temporary and we already see that clinical trials and patient recruitment are showing signs of returning to normality," says Chief Executive Jim Millen.
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By Lucy Heming; lucyheming@alliancenews.com
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