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Pin to quick picksUk Oil & Gas Share News (UKOG)

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Share Price: 0.029
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Change: 0.0005 (1.75%)
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AIM WINNERS & LOSERS: Getech falls on revenue warning; Arkle rises

Fri, 15th Dec 2023 10:49

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

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AIM - WINNERS

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UK Oil & Gas PLC, up 17% at 0.027 pence, 12-month range 0.020p-0.13p. The exploration and production company says that all required explosives permits for the deployment of the new seven-inch perforating guns have now finally been secured. The equipment is thus fully ready to be transported to site. UK Oil & Gas says it is now liaising with the operator AME to schedule a firm date for the resumption of testing operations.

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Arkle Resources PLC, up 8.6% to 0.38p, 12-month range 0.24p-0.75p. The exploration company says it has been awarded two exploration licences in the Makgadikgadi salt pans in north-eastern Botswana. licences PL 075/2023 and PL 0148/2023 were awarded to prospect for lithium in the salt pans. The licences cover 312 and 525 square kilometres respectively in size. "We now have three lithium exploration projects, one in Ireland, one in Zimbabwe, both hard rock, and now in Botswana which is a lithium brines project," says Chair John Teeling. "Initial work will focus on analysis of the very limited exploration data, followed by prospecting to identify targets for drilling."

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AIM - LOSERS

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Getech Group PLC, down 27% at 5.30p, 12-month range 5.02p-18.10p. The geo-energy and green hydrogen company says its client base, 85% of which is based outside of the UK, has been showing a "growing level of caution" due to economic and geopolitical instability. Getech says this has pushed a number of projects initially expected to begin before the end of 2023 into 2024. As a result, Getech has warned that sales for the full year are not expected to surpass GBP4.4 million, down 14% from GBP5.1 million in 2022.

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XLMedia PLC, down 14% at 6.34p, 12-month range 5.86p-24.75p. Shares in the London-based global digital media company fall, after announcing that revenue for 2023 would fall shy of previous years. It says that a "change in the revenue profile" of its north-American activities had been caused by, among other things, the exit of XLMedia's major partner Barstool from the market. The group's revenue for the full year is now expected in the range of USD50.0 to USD52.0 million, down from USD71.8 million in 2022. The group also predicted adjusted earnings before interest, tax, depreciation and amortisation of USD12 million to USD14 million, down from USD17.8 million in 2022.

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By Sophie Rose, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
1 Mar 2023 14:20

UK Oil & Gas joint venture secures rig for Pinarova

(Sharecast News) - UK Oil & Gas announced on Wednesday that the Resan joint venture, in which it has a 50% non-operated interest, had secured a suitable small rig to drill the Pinarova-1 shallow oil exploration well, with site construction expected to start within the next seven-to-10 days.

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1 Mar 2023 14:14

IN BRIEF: UK Oil & Gas secures drilling rig for oil well in Turkey

UK Oil & Gas PLC - oil and gas exploration and production firm with assets focused on the south of England - Secures drilling rig for Pinarova-1 well in Turkey. Will test Eocene Hoya light oil prospect. Expects site construction in seven to 10 days. Says it is fully funded to cover its share of an expected USD400,000 gross dry hole and USD630,000 gross success case costs. Chief Executive Stephen Sanderson says: "Pinarova's prospectivity, potential success case oil volumes and modest drilling costs make it an attractive stand-alone project that could, in the success case, deliver oil production in H1 2023. Given the positive shallow oil seep evidence plus the good light oil shows encountered within Pinarova by the Kezer-1 geothermal well, the new well will seek to establish if that oil is present in commercially viable saturations and volumes that can be pumped to surface. We look forward to the impending start of site construction and subsequent drilling directly upon its completion."

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27 Feb 2023 15:34

TRADING UPDATES: Ince results see further delay; Guild division launch

(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 Feb 2023 14:23

UK Oil & Gas drills holes for Horse Hill reinjection

(Sharecast News) - UK Oil & Gas announced on Monday that, as a "necessary precursor" to its planned Horse Hill-2z Portland formation water reinjection project, it had installed three shallow groundwater monitoring boreholes at its 85.635%-owned producing oil field.

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21 Feb 2023 14:29

UK Oil & Gas shares jump on Loxley gas discovery report

(Alliance News) - UK Oil & Gas PLC on Tuesday reported that RPS Energy Consultants completed its competent person's report on the company's potential economic value of the Loxley gas discovery.

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21 Feb 2023 10:58

AIM WINNERS & LOSERS: Versarien will need more funds as loss widens

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

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21 Feb 2023 09:08

LONDON MARKET OPEN: Stocks lower; UK government surplus beats view

(Alliance News) - Stock prices in London opened lower on Tuesday, as investors chewed on a full plate of blue-chip earnings, and looked ahead to PMI readings for the UK, Europe and US.

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10 Feb 2023 10:52

IN BRIEF: UK Oil & Gas Resan license area unaffected by earthquake

UK Oil & Gas PLC - oil and gas exploration and production firm with assets focused in the south of England - Says its partner and licence operator Aladdin Middle East Resan has advised that its Resan licence area is unaffected by the earthquake in Turkey. Notes that is located "some distrance away" from the East Anatolian fault zone and the earthquake epicentre. "Nonetheless, we continue to monitor the situation and will be looking at ways of how we can offer our support," it adds.

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6 Feb 2023 16:00

IN BRIEF: UK Oil & Gas sees "clear route" to monetisation for Loxley

UK Oil & Gas PLC - oil and gas exploration and production firm with assets focused in the south of England - Says the southern England's gas distribution pipeline network operator SGN has confirmed that its local transmission system can accept all the potential future gas production from its wholly-owned Loxley gas discovery in Surrey, England. The firm says a pipeline routeing study to the identified grid entry point can now begin.

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1 Feb 2023 16:49

TRADING UPDATES: Atlantic ups estimate; Kefi to list in Saudi Arabia

(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 Feb 2023 16:48

TRADING UPDATES: Atlantic ups estimate; Kefi to list in Saudi Arabia

(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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26 Jan 2023 21:52

TRADING UPDATES: Proton wins order; Caerus Mineral sells assets

(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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11 Jan 2023 21:08

TRADING UPDATES: Blencowe gets ok for samples; Cornish hails results

(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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14 Oct 2022 13:11

High Court upholds UK Oil & Gas planning consent for Loxley

(Sharecast News) - UK Oil & Gas announced on Friday that the High Court had rejected legal challenges by Protect Dunsfold and Waverley Borough Council against the decision to grant planning permission for Loxley - a conventional gas and hydrogen feedstock project in Surrey.

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14 Oct 2022 11:45

IN BRIEF: UK court upholds UK Oil & Gas's Loxley planning permission

UK Oil & Gas PLC - London-based exploration and production company focused on the UK and Turkey - Says it is "pleased" with UK High Court upholding planning permission for Loxley, its conventional gas and hydrogen feedstock project in Surrey. "Loxley planning consent therefore remains in full force and the company's plans to implement the project remain unchanged," UK Oil & Gas says.

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