AIM WINNERS & LOSERS: Arrow Exploration well disappoints

Wed, 05th Feb 2025 11:01

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

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AIM - WINNERS

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Oxford BioDynamics PLC, up 21% at 0.60 pence, 12-month range 0.48-16.00p. A study has shown the biotechnology company's EpiSwitch colorectal cancer detection blood test has "high accuracy". "Independent validation cohort testing demonstrated an exceptionally high accuracy of detection" at 81% for early cancer stages and 82% for non-cancerous polyps. Polyps are abnormal growth tissues that are not always cancerous. The study was a collaboration between OBD and other parties including hospitals in the UK and Malaysia.

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Made Tech Group PLC, up 14% at 31.68p, 12-month range 8.00p-32.88p. The provider of digital, data and technology services to the UK public sector reports a swing to half-year profit. Pretax profit in the six months to November 30 totals GBP450,000, swinging from a loss of GBP975,000 a year prior. Revenue improves 14% to GBP21.8 million from GBP19.1 million. "This improving performance is a direct result of the investment we have made into our commercial operations and processes over the last two years. We are on track to deliver positive free cash flow and double-digit revenue growth in FY25 and the business is in great shape to benefit from new public sector digitalisation programmes, which are expected to be announced in the UK government spending review in the spring," Chief Executive Officer Rory MacDonald says.

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AIM - LOSERS

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Arrow Exploration Corp, down 13% at 19.70p, 12-month range 17.50p-33.50p. The operator of assets in Colombian hydrocarbon basins says the AB-2 well produced at "sub-economic oil rates". The firm owns 50% of the asset, located at the Alberta Llanos field on the Tapir Block in Colombia. AB-2 reached target depth at the start of the year, before being put into production on January 10. "The well came in structurally lower than prognosis and produced sub-economic oil rates and accordingly the well has been temporarily shut in. The company is reviewing alternatives for this well, such as performing a recompletion in an alternative zone," Arrow adds. Arrow says total corporate production in January was over 4,500 barrels of oil equivalent per day, beating its forecast.

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By Eric Cunha, Alliance News news editor

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