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

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EARNINGS UPDATES: Everyman revenue doubles; Aeorema in interim profit

Fri, 25th Mar 2022 13:21

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

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Everyman Media Group PLC - London-based cinema company - Revenue doubles to GBP49.0 million in 2021 from GBP24.2 million in 2020 - though remains below pre-pandemic level of GBP65.0 million - and pretax loss narrows to GBP5.4 million from GBP21.8 million. Says 2021 included normal trading with full capacity for 24 weeks, nine weeks of reduced capacity due to Covid-19 restrictions, and 19 weeks full closure. Admissions increased 67% to 2.0 million. Says since re-opening, it has delivered positive adjusted profit every month as well as admission levels and average spends being higher than expectations. "We are optimistic for the coming year, with customers continuing to appreciate the unique Everyman experience. Alongside this, a strong and varied film slate is anticipated, with a good mix of both the major releases and the well-watched independent films that our customers enjoy. So far in 2022 admissions momentum has continued," says Everyman.

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Aeorema Communications PLC - London-based live events agency - Revenue for half-year to December 31 jumps to GBP4.9 million from GBP1.7 million year-on-year, and swings to pretax profit of GBP255,677 from loss of GBP287,676. Says this is first profitable interim period "for a number of years". "During the period under review, we have received an unprecedented demand for our bespoke services from a wide range of blue-chip clients across a number of industries." firm says, adding consultancy services offering also boosted performance. Has strong outlook for second half.

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Faron Pharmaceuticals Oy - Turku, Finland-based clinical-stage biopharmaceutical company - Loss for 2021 widens to EUR21.2 million from EUR16.9 million in 2020, with no revenue recorded in either period. Flags progress across pipeline programmes during the year, including for Bexmarilimab, a novel precision cancer immunotherapy candidate, and for Traumakine, with dosing started in a trial investigating the treatment in hospitalised Covid-19 patients. "Despite the difficult funding environment due to Covid-19, Faron has successfully secured further investment over the period to progress its pipeline. This is testament not only to the potential of our product candidates but also to the expertise and credibility of the management team," firm says.

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VinaCapital Vietnam Opportunity Fund Ltd - Vietnam-focused investor - Net asset value per share USD8.54 at end of December, with total return over the half-year 6.9%. NAV per share stood at USD8.07 at June 30. Says investment manager delivered "respectable" results amid volatility in second half of 2021. "In 2022 to date, the Vietnam market has shown some resilience against the background of an increasingly volatile investment market in more developed countries and, most recently, the turmoil following Russia's invasion of Ukraine," it says. On Thursday declared dividend of 8.0 cents. "Although the board remains committed to its policy of distributing dividends representing approximately 1% of net asset value each half year, given the current global uncertainties, the board has decided not to increase the dividend at this stage but will review the dividend again once the results for the full year are known," it says.

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GCM Resources PLC - Phulbari coal and power project in north-west Bangladesh - Says performance over six months to December 31 was hindered by pandemic as "Bangladesh, unlike most of Europe, did not move from the rolling lock-downs until late August and the return to 'business as usual' has been slow." Pretax loss for half slims to GBP763,000 from GBP1.1 million, however. "Over the next 12 months, the company will seek to further strengthen GCM's financial position and provide future funding, and the directors remain confident that sufficient funding will be obtained as and when required," it says.

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Secured Income Fund PLC - specialist secured-lending income investment trust - Net asset value per share 25.10 pence at end of December, down from 36.28p at end of June and 78.26p a year ago. Says it continued to focus on returning capital to shareholders in "efficiently and in a timely manner", after wind-down proposals were adopted in September 2020. "The primary focus remains unchanged in the managed wind-down, achieving a balance between maximising the value received from the remaining assets and making timely returns of capital to Shareholders. The board expects to have realised most of the remaining portfolio within the next two years," it says.

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UK Oil & Gas PLC - London-based oil and gas company focused on operations in the UK - Revenue for financial year ended September 30 jumps to GBP1.6 million from GBP908,000 the year before, and pretax loss slims to GBP4.8 million from GBPP20.9 million. Impairment expense reduces to GBP1.5 million from GBP10.7 million. Notes oil and gas industry rebounded strongly in 2021, with oil prices hitting their highest levels in six years. "At the time of writing, Brent prices have surpassed USD100 per barrel, with concerns about the omicron variant of Covid-19 easing. This optimism has been tempered by the worrying events in Ukraine which will have a direct impact on our future security," it says. Predicts "busy" 2022. It adds: "The company is reviewing the potential acquisition of further new international producing oil and gas properties which have the potential to deliver potentially significant short term cash flow. These assets also have the potential to become self-funding relatively quickly."

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BMO Private Equity Trust PLC - investor in unlisted companies and specialist private equity funds - Net asset value per share 640.30p at December 31, reflecting total return for the year of 36%. This beats FTSE All-Share Index which returns 18% over the same period. NAV per share stood at 486.17p at end of 2020. Recommends quarterly dividend of 5.65p, taking total for year to 20.04p, equivalent to yield of 4.1%. Says 2021 was "outstanding" year for firm. "The principal drivers of this year's returns have been ongoing recovery from the pandemic and an exceptionally strong flow of realisations across the breadth of the portfolio. Whilst there was clearly some catch up with deals postponed from the previous year, there has also been a genuine increase in the proportion of investment capital allocated towards private equity in general and this has underpinned the strong market," firm says.

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Parkmead Group PLC - Netherlands and UK-focused gas explorer based in London - Revenue for six months to end of December grows to GBP4.6 million from GBP1.5 million year-on-year. Swings to pretax profit of GBP1.3 million from loss of GBP1.4 million. "We have delivered a tripling of our revenue, led by our high-quality Dutch assets and the significant rise in gas prices. The innovative royalty deal we completed last summer is proving to be highly advantageous and is adding considerable value to Parkmead. Parkmead is 100% unhedged and is directly benefitting from these additional gas sales at higher prices," says Executive Chair Tom Cross. Says current gas environment provides "excellent opportunities". Adds it is maintaining appetite for acquisitions into 2022 and is mulling a number of opportunities.

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Triple Point Social Housing REIT PLC - London-based real estate investment trust - EPRA net tangible assets per share rises to 108.27p at end of December from 106.42p a year before. Portfolio value rises to GBP642.0 million from GBP571.5 million on IFRS basis, and portfolio's total annualised rental income was GBP35.8 million as at December 31 versus GBP31.6 million a year ago. Paid dividends totalling 5.20p for the year, in line with target.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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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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