(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.
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AIM - WINNERS
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Nostra Terra Oil & Gas Co, up 36% at 0.58 pence, 12-month range 0.30p-0.85p. The oil & gas exploration and production company announces the renewal of its senior lending facility, resulting in a significant increase available borrowing base, and a substantial upgrade in reserves. Says new debt facility has an initial nominal amount of USD10 million, double the previous USD5 million. The borrowing base has also been raised, to USD2.4 million from USD1.6 million. Nostra says total, net reserves have been increased by 27% to 973,180 barrels from 764,030 barrels.
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Pittards PLC, up 11% at 71.90p, 12-month range 36.00p -71.90p. The leather products maker reports positive trading momentum and reinstates dividend payments. For six months to June 30, revenue rises to GBP9.7 million from GBP6.6 million last year and Petards swings to pretax profit GBP264,000 from GBP2.3 million loss. Declares interim dividend of 0.5p, having paid nothing last year.
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AIM - LOSERS
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Hurricane Energy PLC, down 18% at 3.80p, 12-month range 0.59p-5.43p. The oil producer lifts annual production guidance but warns of potential disruption next year. Hurricane continues to expect production of between 8,500 and 10,500 barrels of oil per day in 2021 and says production is now likely to be towards the upper end of that range. The company expects well-head flow pressure in the Lancaster reservoir to reach the bubble point by the end of the first quarter of 2022. "Whilst this has been factored into the guidance for the period, there will remain a degree of uncertainty regarding the full impact of this, along with the risk that gas liberated from the reservoir could be produced which could result in production either being reduced or ceased altogether," Hurricane warns.
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Quiz PLC, down 23% at 18.79p, 12-month range 5.50p-29.00p. The fashion retailer reports drop in revenue, pointing to Covid disruption. For the financial year that ended March 31, swings to pretax profit of GBP6.0 million from loss of GBP29.4 million, but revenue sinks to GBP39.7 million from GBP118.0 million. Ends period with 61 stores, down from 75 at March 31, 2020. Going forward, says a higher proportion of revenue will be generated from its own stores and websites, which have traditionally generated higher returns than other revenue streams.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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Nostra Terra (NTOG)
Quiz (QUIZ)