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Pin to quick picksUnion Jack Share News (UJO)

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AIM WINNERS & LOSERS: Hurricane Energy shares rise on swing to profit

Thu, 14th Oct 2021 10:49

(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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Oracle Power PLC, up 31% at 0.48 pence, 12-month range 0.3p-0.75p. Receives conversion notice in respect of the final GBP200,000 of GBP1.5 million share subscription announced in July. Following this conversion notice, share subscription agreement has been settled in full.

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Hurricane Energy PLC, up 13% at 4.65p, 12-month range 0.59p-5.43p. Swings to pretax profit of USD42.9 million for first half of 2021 from loss of USD258.5 million a year prior. Improvement driven by a USD49.1 million gain on revision of lease term, while it records no hit from oil and gas assets impairment after blow of USD238.9 million a year ago. Chief Executive Antony Maris says: "Recent stronger oil prices combined with the impact of the bond buyback, internal cost cutting, and other cost reduction measures, has brought the possibility of bridging the funding gap for the repayment of the bonds within reach. However, the challenge of funding investment in our assets remains."

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Tekcapital PLC, up 9.8% at 30.2p, 12-month range 8p-34p. Notes US Food & Drug Administration releases voluntary sodium reduction goals for the food industry, which it sees as a positive for Salarius's business-to-business sales of MicroSalt and retail sales of SaltMe! crisps. Tekcapital owns 97% of Salarius Ltd and 87% of MicroSalt Inc, its US subsidiary. MicroSalt's patented sodium microparticle creates a salt taste with around half the sodium. "MicroSalt as a brand could be viewed as a timely, nationwide solution, to help food companies meet these guidelines without sacrificing the full-flavour of their snack foods, which is key to their successful on-going sales," notes Tekcapital.

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AIM - LOSERS

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Reabold Resources, down 7.3% at 0.16p, 12-month range 0.15p-0.87p. Extends losses after 15% fall on Wednesday. On Wednesday says: "Gas and light oil/condensate were recovered to surface from the WNA-2 and WNB-1z wells, although sustained flow rates were not achieved, and multiple samples have been gathered for geochemical analysis which is currently underway." Reabold holds 56% interest in West Newton field and 16.7% direct licence interest in PEDL183 which contains West Newton A-1 discovery well and WNA-2 appraisal well. Shares in Union Jack, which has 16.7% interest in licence, falls 4.9% on Thursday after 6.4% decline on Wednesday.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
26 Aug 2022 11:24

Union Jack reaches 'landmark' $9m net revenue from Wressle

(Sharecast News) - Union Jack Oil announced on Friday that "material landmark" net revenues of $9m have been achieved from the Wressle development, on licences PEDL180 and PEDL182 in North Lincolnshire, on the western margin of the Humber Basin.

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26 Aug 2022 09:27

Union Jack's JV Wressle reaches "landmark" USD9 million revenue

(Alliance News) - Union Jack Oil PLC on Friday said its Wressle hydrocarbon development in North Lincolnshire has generated a "landmark" USD9.0 million revenue from production since August last year.

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9 Aug 2022 12:11

IN BRIEF: Union Jack schedules UK High Court capital reduction hearing

Union Jack Oil PLC - Bath-based UK-focused oil and gas company - UK High Court of Justice schedules initial hearing for its capital reduction on August 12, with a final hearing planned on August 30. Once complete, Union Jack Oil will outline details of a share buy back scheme or the payment of a maiden dividend, it says.

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8 Aug 2022 13:08

Egdon, Union Jack confirm appeal to Lincolnshire council planning refusal

(Sharecast News) - Egdon Resources and Union Jack Oil both told shareholders on Monday that an appeal against a refusal by the Lincolnshire County Council had been submitted.

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8 Aug 2022 10:12

Egdon, Union Jack appeal against North Kelsey planning blow

(Alliance News) - Egdon Resources PLC on Monday announced it has submitted an appeal to the Lincolnshire County Council against the council's refusal to extend the existing planning permission to drill the North Kelsey-1 well site.

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25 Jul 2022 19:40

TRADING UPDATES: SSE issues green bond; Bank of Cyprus staff exits

(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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25 Jul 2022 11:15

Union Jack set for maiden profit as Wressle revenue hits $8m

(Sharecast News) - Union Jack Oil announced on Monday that "material landmark" net revenues of $8m (£6.63m) have been achieved from the Wressle hydrocarbon development within licences PEDL180 and PEDL182 in North Lincolnshire, on the western margin of the Humber Basin.

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21 Jun 2022 22:13

TRADING UPDATES: Coca-Cola HBC and Pendragon shareholders show ire

(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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20 Jun 2022 13:21

Union Jack Oil reaches $7m revenue since Wressle re-start

(Sharecast News) - Union Jack Oil announced on Monday that material landmark net revenues of $7m (£5.71m) have been achieved from the Wressle hydrocarbon development, located within licences PEDL180 and PEDL182 in North Lincolnshire, on the western margin of the Humber Basin.

Read more
20 Jun 2022 11:13

IN BRIEF: Union Jack Oil earns USD7 million from Wressle development

Union Jack Oil PLC - Bath-based UK-focused oil and gas company - Reports it has made USD7.0 million in revenue from Wressle hydrocarbon development in North Lincolnshire from production since August 2021. This represents increase of USD2 million from USD5 million total revenue reported on April 25. "Current daily production figures continue to be an average constrained flow-rate of 750 barrels of oil per day, well in-excess of the forecast of 500 barrels of oil per day from the Ashover Grit reservoir," it says.

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30 May 2022 14:00

IN BRIEF: Egdon, Europa and Union Jack get okay for Wressle field plan

Egdon Resources PLC - operator of Wressle oil field in north Lincolnshire, England - North Sea Transition Authority approves field development plan for Wressle. The UK regulator also approves the licenses, PEDL180 and PEDL182, to enter production through 2039.

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26 May 2022 22:00

TRADING UPDATES: DP Eurasia posts strong sales growth on Turkey demand

(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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23 May 2022 19:29

TRADING UPDATES: Big Yellow's annual profit surges on occupancy gains

(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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23 May 2022 14:04

Union Jack reaches $6m revenue since Wressle restart

(Sharecast News) - Onshore producer Union Jack Oil announced on Monday that "material landmark" net revenues of $6m (£4.77m) have been achieved from the Wressle hydrocarbon development.

Read more
16 May 2022 11:48

Union Jack Oil confidence high as annual revenue surges

(Alliance News) - Union Jack Oil PLC reported a surge in annual revenue on Monday as the company posted its maiden profit for oil sales on the strength of its Wressle well.

Read more

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