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Pin to quick picksSDX Energy Share News (SDX)

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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
28 Apr 2023 14:29

SDX Energy shares fall as it reports a decline in annual revenue

(Alliance News) - SDX Energy PLC on Friday said its annual revenue fell in 2022, due to increased operating costs and lower sales volumes.

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28 Apr 2023 10:55

AIM WINNERS & LOSERS: Numis rockets on takeover by Deutsche Bank

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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8 Mar 2023 18:24

TRADING UPDATES: Poolbeg patent boost; Resolute Mining resource up

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

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1 Mar 2023 18:15

TRADING UPDATES: Riverstone Energy ups NAV; SuperSeed optimistic

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

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1 Mar 2023 14:37

SDX Energy reports operational progress in 2022

(Sharecast News) - Oil and gas explorer SDX Energy updated the market on its 2022 operations on Wednesday, reporting that at Egypt's South Disouq, it achieved an average gross production of 38.5 million standard cubic feet equivalent per day with the SD-5X well, drilled in the second quarter, exceeding initial volume expectations.

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1 Dec 2022 14:31

TRADING UPDATES: Field Systems widens interim loss due to Covid impact

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

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17 Nov 2022 21:53

TRADING UPDATES: Wynnstay buys Tamar; abrdn Japan assets fall

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

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14 Nov 2022 17:00

SDX Energy plans to expand Morocco drilling operations in 2023

(Alliance News) - SDX Energy PLC on Monday announced plans to expand its drilling operations in Morocco in 2023, following two discoveries at the recently completed SAK-1 AND KSR-20 wells.

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27 Sep 2022 15:55

EXECUTIVE CHANGES: Costain hires chair; CFO changes at SDX, Love Hemp

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

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21 Sep 2022 14:30

IN BRIEF: SDX Energy executive changes point to "new vision"

SDX Energy PLC - London-based oil and gas company - Michael Doyle steps down as chair with immediate effect. Doyle will be replaced by Independent Non-Executive Director Tim Linacre on a temporary basis. A process is underway to appoint a permanent chair as well as an extra non-executive director. SDX also appointed Krzysztof Zielicki as new non-executive director. Zielicki has over four decades of experience in the oil and gas industry with senior leadership positions at BP PLC and Russia's Rosneft, where he was vice president for M&A and Strategy.

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18 Aug 2022 10:38

SDX Energy narrows interim loss but sees revenue fall on lower netback

(Alliance News) - SDX Energy PLC on Thursday posted a narrowed interim loss but recorded a drop in revenue despite production beating guidance.

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11 Aug 2022 16:32

SDX Energy spuds exploration well at Morocco concession

(Sharecast News) - SDX Energy announced the 6 August spudding of the SAK-1 exploration well on Thursday, at the Lalla Mimouna Sud concession in Morocco, where it has a 75% working interest.

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11 Aug 2022 11:56

IN BRIEF: SDX Energy spuds SAK-1 exploration well in Morocco

SDX Energy PLC - London-based oil and gas company - Spuds the SAK-1 exploration well at the Lalla Mimouna Sud concession in Morocco. The well is 75% owned by SDX Energy and is the first in a two well campaign on the Gharb Basin acreage in Morocco.

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2 Aug 2022 17:36

IN BRIEF: SDX Energy spuds MSD-27 well at Meseda Field in Egypt

SDX Energy PLC - London-based oil and gas company - Spuds the MSD-27 infill development well at the Meseda Field on the West Gharib concession in Egypt. SDX holds a 50% working interest on the concession. MSD-27 is the sixth well in a fully-funded 13 well development campaign on the Meseda and Rabul oil fields. The campaign aims to grow production to between 3,500 barrels per day to 4,000 barrels by mid-2023.

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1 Aug 2022 19:34

IN BRIEF: Aleph-led shareholder group takes up 26% stake in SDX

SDX Energy PLC - London-based oil and gas company - Shareholder group led by trading and investment firm Aleph Commodities Ltd takes 26% interest in company.

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