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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.

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26 Nov 2018 11:13

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SDX Energy Begins First Of Four Well Drill Programme At South Disouq

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SDX Energy Swings To Income In 2017 With Gains From Circle Oil Assets

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SDX Energy Discovers Oil At Rabul 5 Well In West Gharib, Egypt

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SDX Energy buys Egypt and Morocco oil assets for $30m

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SDX Energy upbeat on Egyptian concessions

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SDX Energy shares up on early seismic results

(ShareCast News) - Egypt-focused oil and gas company SDX Energy updated the market on its initial findings from interpretation of the 300 sq km of 3D seismic data acquired over its South Disouq concession in the first half of 2016. The AIM-traded firm said data processing commenced in June and the f

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SDX Energy Completes Second Tranche Of Private Placement (ALLISS)

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SDX Energy Completes South Disouq Seismic Data Acquisition Programme

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SDX Energy Progresses Egyptian Assets, Notes High Margin Production

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