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Share Price: 3.90

Bid: 3.80

Ask: 4.00

Change: 0.00 (0.00%)

Spread: 0.20 (5.263%)

Open: 3.90

High: 3.90

Low: 3.90

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AIM WINNERS & LOSERS: Angus Energy fights value "mismatch"; ASOS falls

Thu, 06th Jan 2022 10:58

(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 27% at 98 pence, 12-month range 0.56p-1.55p. The company unveils a strategic review and formal sales process. The AIM listing says its market capitalisation does not reflect its strategic value. It is a "valuation mismatch" that other smaller energy companies also experience, Angus adds. Angus explains it has received an indicative non-binding offer for some or all of its 51% stake in the Saltfleetby gas field in East Lincolnshire, UK. "Additionally, the board has received indications that certain parties may be interested in making an offer for the company," Angus adds.

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M&C Saatchi PLC, up 10% at 208.00 pence, 12-month range 84.75p-210.00p. The ad agency confirms it has received a preliminary takeover approach from Main Market-listed acquisition vehicle AdvancedAdvT Ltd, which has recently snapped up a stake in the company. AdvancedAdvT, which is backed by Marwyn Investment Management, announced on Wednesday that it had bought a 9.8% stake in M&C Saatchi, spending GBP24.0 million.

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SDX Energy PLC, up 7.8% at 10.92 pence, 12-month range 7.00p-19.90p. The Middle East and North Africa exploration and production company begins oil production at the MSD-21 infill development well in Egypt. SDX has a 50% working interest in the asset. SDX anticipates a 300 barrels of oil per day stabilised output rate from the well.

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AIM - LOSERS

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Blue Star Capital PLC, down 4.0% at 0.50p, 12-month range 0.11p-0.58p. The investor, with a focus on esports, payments and technology extends declines. Its stock surged 38% on Tuesday, though the company on Wednesday said it was "not aware of a reason" for the buying action.

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ASOS PLC, down 5.8% at 2,214.00p, 12-month range 1,970.50p-5,994.95p. Shares in the online retailer are down 7.3% so far in 2022. The stock has been hit in recent sessions by the expectation that the Omicron variant of Covid-19 will not lead to a fresh round of lockdown measures. Covid-19 lockdowns boosted demand at online retailers.

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By Eric Cunha; ericcunha@alliancenews.com

More News

6 May 2022 19:11

TRADING UPDATES: Enwell pleased with SV-31; SDX Energy ties in well

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

3 May 2022 13:11

SDX Energy discovers gas at Sobhi well

(Sharecast News) - Middle East and North Africa-focussed SDX Energy announced a gas discovery at the SD-12 East well on Tuesday, which targeted a separate compartment in the Sobhi Field within the Ibn Yunus North development lease in Egypt.

3 May 2022 11:57

IN BRIEF: SDX Energy shares rise on gas discovery at Egypt asset

SDX Energy PLC - oil and gas company focused on Egypt and Morocco - Says 67% owned SD-12 East well in Sobhi field at Ibn Yunus North discovers gas. The asset is located in Egypt. The primary basal Kafr El Sheikh target is met at 6,567 feet measured depth, discovering 70.2 feet of net pay gas sand with average porosity of 24%. Secondary target is encountered at 4,838 feet measured depth, discovering 9.1 feet of net pay gas sand with 31% porosity.

21 Apr 2022 22:06

TRADING UPDATES: Warehouse REIT buys Bradwell Abbey; Ixico wins deal

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

8 Apr 2022 17:12

IN BRIEF: SDX Energy spuds MSD-20 development well in Egypt

SDX Energy PLC - oil and gas company focused on Egypt and Morocco - Spuds the MSD-20 infill development well on the Meseda field in Egypt. This is the third fully funded 13-well development campaign at the Meseda and Rabul oil fields. The campaign aims to grow production to between 3,500 to 4,000 barrels per day by early 2023.

7 Apr 2022 14:39

IN BRIEF: SDX Energy makes positive progress on SD-5X well in Egypt

SDX Energy PLC - oil and gas company focused on Egypt and Morocco - Provides an update on its 37% owned SD-5X discovery well at the South Disouq development lease in Egypt. Says well was perforated and tested on March 30. Well flowed at a rate of 10 million standard cubic feet per day on a 26/64 inch choke. SDX expects the well to produce at an optimum stabilised rate between 8 to 9 million standard cubic feet per day. Well will be tied in to the SD-4X flow-line at an estimated cost of USD500,000. Expects well to be on production in June. Next, the company is moving onto the second well in the campaign, SD-12 East, which is expected to spud in mid-April.

22 Mar 2022 21:00

TRADING UPDATES: Marlowe makes acquisition; Kavango backs out of deal

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

18 Mar 2022 17:29

IN BRIEF: SDX Energy swings to annual loss on higher one-off costs

SDX Energy PLC - London-based oil and gas company with projects in Egypt and Morocco - Revenue in 2021 rises to USD53.9 million from USD46.1 million. Swings to pretax loss of USD17.1 million from USD1.4 million profit. Exploration and evaluation expense increases to USD14.1 million from USD5.8 million. Depletion, depreciation and amortisation charges up to USD32.6 million from USD25.2 million. In addition, company posts USD9.5 million impairment expense, against none in year prior.

17 Mar 2022 16:14

SDX Energy begins oil production from Egypt infill well

(Sharecast News) - Middle East and North Africa-focussed SDX Energy announced the start of oil production at the MSD-25 infill development well on the Meseda field on Thursday, in its West Gharib concession in Egypt, where it has a 50% working interest.

8 Mar 2022 19:36

IN BRIEF: SDX Energy spuds well in South Disouq to explore potential

SDX Energy PLC - London-based oil and gas company with projects in Egypt and Morocco - Spud the SD-5X well, which will target the Warda prospect in the South Disouq development lease in Morocco.Well is targeting an estimated gross unrisked P50 EUR of 11 billion cubic feet and has a 40% chance of success.

4 Mar 2022 20:53

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SDX Energy Share News (SDX)

Share Price Information for SDX Energy (SDX)

AIM WINNERS & LOSERS: Angus Energy fights value "mismatch"; ASOS falls

TRADING UPDATES: Enwell pleased with SV-31; SDX Energy ties in well

SDX Energy discovers gas at Sobhi well

IN BRIEF: SDX Energy shares rise on gas discovery at Egypt asset

TRADING UPDATES: Warehouse REIT buys Bradwell Abbey; Ixico wins deal

IN BRIEF: SDX Energy spuds MSD-20 development well in Egypt

IN BRIEF: SDX Energy makes positive progress on SD-5X well in Egypt

TRADING UPDATES: Marlowe makes acquisition; Kavango backs out of deal

IN BRIEF: SDX Energy swings to annual loss on higher one-off costs

SDX Energy begins oil production from Egypt infill well

IN BRIEF: SDX Energy spuds well in South Disouq to explore potential

TRADING UPDATES: IOG to cut Gazprom ties; wholesale changes at Donegal

SDX Energy shares down on lower production guidance for 2022

IN BRIEF: SDX Energy spuds second well in Egypt development

SDX Energy jumps after oil production commences at well in Egypt

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AIM WINNERS & LOSERS: Angus Energy fights value "mismatch"; ASOS falls

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