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Share Price: 3.65
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AIM WINNERS & LOSERS: SDX Energy receives gas prepayment from Citic

Thu, 05th Oct 2023 10:16

(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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SDX Energy PLC, up 17% at 4.38 pence, 12-month range 3.50p-9.50p. The North-Africa focused oil and gas firm receives a gas prepayment amount of around USD1.9 million from Citic Group subsidiary. Says prepayment is evidence of "deepening partnership" between the two parties. Citic Dicastal is SDX's largest offtaker, and has an "increasing and immediate" demand for its gas. Will use funds to pay for drilling of KSR-21 well in Morocco.

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Tavistock Investments PLC, up 9.3% at 5.19p, 12-month range 4.25p-9.50p. The investment manager says trading in the first five months of its financial year, which ends March 31, is "significantly" ahead of the equivalent period last year. Gross revenue rises 19% to GBP17.2 million from GBP14.5 million a year prior, and gross margin increases by 40% to GBP6.7 million from GBP4.8 million. Tavistock also posts earnings before interest, tax, depreciation and amortisation of GBP1.6 million, swinging from a loss of GBP140,000.

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AIM - LOSERS

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MaxCyte Inc, down 20% at 198.90p, 12-month range 170p-650.00p. The cell engineering-focused provider of platform technologies shares a disappointing third-quarter update. Says total revenue will fall between 25% and 27% year-on-year to between USD7.8 and USD8.0 million. Core business revenue is expected to fall between 33% and 35%. It now expects annual revenue to be between USD34 and USD36 million, which would be down from USD44.3 million in 2022. This is due to the "ongoing volatility in customer activity in the life science tools sector", which it attributes to the depressed funding environment within Cell & Gene Therapy sector. MaxCyte had been guiding for annual growth of 21% to 26% back in March, before cutting the range to 8% to 12% in May.

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Helium One Global Ltd, down 19% at 4.05p, 12-month range 3.90p-10.30p. The Tanzania-focused helium explorer reports a setback in the drilling of the Tai-3 well. Says late Wednesday, its Predator 220 drilling rig suffered a component failure within the main rig carrier. "In order to undertake the necessary repairs, mechanical parts will need to be brought in from outside of Tanzania and, as a result, will require us to temporarily suspend operations whilst these repairs are carried out," it explains. Expects it to take around two weeks to source the needed parts and repair the rig. It then expects to recommence drilling in accordance with its original programme.

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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
Today 14:08

SDX Energy says KSR-21 begins producing gas upon government approval

(Alliance News) - SDX Energy PLC on Monday said that that the KSR-21 well in Morocco has received necessary government approvals and gas production has commenced.

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24 Apr 2024 14:26

TRADING UPDATES: 88 Energy firms bookbuild; Gama Aviation inks deal

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SDX Energy signs deal to dispose of West Gharib interests in Egypt

(Alliance News) - SDX Energy PLC on Friday said it has executed a binding sale and purchase agreement for the disposal of its West Gharib interests in Egypt.

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3 Apr 2024 14:27

SDX Energy commences drilling at well in Rharb basin, Morocco

(Alliance News) - SDX Energy PLC on Wednesday said it began drilling the Beni Malek-2 well in the Rharb basin, Morocco.

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3 Apr 2024 13:18

SDX starts drilling BMK-2 well in Morocco

(Sharecast News) - SDX announced the start of drilling operations for the Beni Malek-2 well (BMK-2) in the Rharb Basin of Morocco on Wednesday, situated 1.5 kilometres from the BMK-1 discovery well.

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27 Nov 2023 20:02

TRADING UPDATES: Live Co to cut jobs; SDX Energy in strategy shift

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

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27 Nov 2023 15:58

SDX Energy pivoting away from Egyptian assets

(Sharecast News) - SDX Energy updated the market on its strategic transformation on Monday, shifting its focus from solely an oil and gas business to becoming an integrated, hybrid energy provider in Morocco.

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22 Nov 2023 14:20

EXECUTIVE CHANGES: Ocean Harvest catches new CFO, Titon hires new CEO

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Wednesday and not separately reported by Alliance News:

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31 Oct 2023 17:58

TRADING UPDATES: Schroders Capital Global investee to be bought out

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

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5 Oct 2023 14:17

SDX Energy receives $1.9m pre-payment from Citic subsidiary

(Sharecast News) - Exploration and production company SDX Energy revealed on Thursday that it has received a payment of roughly $1.9m from a Citic Group subsidiary in relation to a gas pre-payment head of terms agreement.

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5 Oct 2023 09:56

SDX Energy shares surge on gas prepayment for Morocco well drilling

(Alliance News) - SDX Energy PLC on Thursday said it received around USD1.9 million from Dika Morocco Africa as part of a gas prepayment heads of terms announced in September.

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29 Sep 2023 11:51

EARNINGS: Ebiquity swings to profit; SDX Energy swings to loss

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

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28 Sep 2023 16:05

SDX Energy finds gas-charged sands in new well

(Sharecast News) - SDX Energy announced the successful drilling of the KSR-21 well on Thursday, achieving its target vertical depth of 1,955 metres, or 1,966 metres when considering the measured depth.

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28 Sep 2023 10:26

IN BRIEF: SDX Energy says Morocco well confirms presence of gas

SDX Energy PLC - London-based energy company, which currently has a portfolio of exploration, development and production assets in Egypt and Morocco - Says KSR-21 well in Morocco reaches a total vertical depth of 1,955 metres. Notes well drilling data confirms the presence of gas-charged sands in the targeted reservoir section. Earlier this month, SDX agreed to a non-binding gas prepayment heads of terms with Dika Morocco Africa for a drawdown of around USD2 million by the end of the month, which intends to use towards drilling costs of KSR-21.

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