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Pin to quick picksPetroTal Share News (PTAL)

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AIM WINNERS & LOSERS: PetroTal revenue surges; IOG cuts guidance

Thu, 25th Aug 2022 11:19

(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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Angus Energy PLC, up 22% at 1.53p, 12-month range 0.56p-1.65p. The oil and gas development company says it has introduced and processed well head gas throughout the combined extraction and condensate processing facility at Saltfleetby gas field in Lincolnshire, England. Angus says it will make nominations for gas sales once it sees stable flow, uninterrupted by electronic trips, for an extended period of time - being not less than eight hours continuous flow. Angus believes this will occur before the end of August.

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PetroTal Corp, up 16% at 48.20 pence, 12-month range 0.14p-49.00p. The oil and gas firm's crude oil revenue jumps in the first half of 2022, boosted by high growth in oil prices. For the six months ended June 30, net income more than triples to USD148.8 million from USD42.2 million a year prior. Crude oil revenue surges to USD211.2 million from USD75.2 million. The firm - focused on oil assets in Peru - says it realised an average Brent price of USD101.54 per barrel, an increase of 58% from USD64.28 a year ago. Looking ahead, it is guiding a 2022 average production of 15,000 barrels of oil per day, up 67% from 8,966 in 2021.

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AIM - LOSERS

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IOG PLC, down 18% at 32.28p, 12-month range 20.59p-46.00p. The North Sea-focused gas and infrastructure operator increases profit in the first half to 2022 as energy prices rise, but lowers production guidance for the Southwark gas field. Pretax profit in the six months to June 30 surges to GBP11.4 million from GBP209,000 a year ago. IOG reduces its gross production guidance for the second half of 2022 to 30 million to 50 million standard cubic feet per day from 45 million to 60 million on June 20 to "account for a range of planned and unplanned downtime scenarios as well as potential variation in Southwark first gas timing," referring to its gas field in the North Sea.

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Greatland Gold PLC, down 8.7% at 8.49p, 12-month range 8.10p-23.00p. The gold miner says it has raised USD35 million via an "oversubscribed" placing of 362.9 million shares at 8.20p each. On Wednesday, the London-headquartered mine developer and explorer focused on Western Australia announced a placing to raise USD30 million. The issue price represents a 13% discount to the firm's closing price on Wednesday. Greatland on Wednesday, said it intends to use the proceeds to fund the continued development of Havieron in conjunction with joint venture partner, Newcrest Mining Ltd.

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By Arvind Bhunjun; arvindbhunjun@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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PetroTal to acquire 100% interest in Peru's Block 131

(Sharecast News) - PetroTal announced the signing of a definitive agreement to acquire a 100% working interest in Block 131 in Peru on Wednesday, including the producing Los Angeles field, through the acquisition of CEPSA Peruana.

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PetroTal announces senior leadership changes

(Sharecast News) - PetroTal announced updates to its leadership team on Wednesday, with Camilo McAllister appointed as its new executive vice-president and chief financial officer.

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PetroTal production meets guidance in first quarter

(Sharecast News) - PetroTal said in an update on Thursday that its average production in the first quarter was 18,518 barrels of oil per day, consistent with its guidance.

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PetroTal starts year off strong as quarterly average production jumps

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(Alliance News) - PetroTal Corp on Thursday reported an increase in its annual average sales and production despite disruptions caused by dry season in the final quarter.

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UK dividends calendar - next 7 days

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A full 14-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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Copyright 2024 Alliance News Ltd. All Rights Reserved.

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(Alliance News) - PetroTal Corp on Monday hailed its natural aquifer support as it reported an increase in net present value and crude oil reserves in the past year.

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PetroTal expects income decrease but rise in production this year

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(Sharecast News) - PetroTal said in an update on Wednesday that in the fourth quarter, it achieved an average daily production of 14,865 barrels of oil per day, with a yearly total of 14,248 daily barrels.

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