(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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Renold PLC, up 33% at 26.70 pence, 12-month range 18.00p-34.94p. Says strong momentum in order intake and turnover continued the second half of the year ending March 31, delivering full-year revenue of GBP195.0 million. This represents a 18% increase on the previous year. Notes sales to Russia and Ukraine during the year were "insignificant" at 0.5% of turnover. Order intake of GBP223.7 million, representing a 32% increase on the previous year. Expects underlying trading profit ahead of expectations.
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Petrel Resources PLC, up 14% at 1.65 pence, 12-month range 1.38p-2.90p. Says High Court injunction over the 32.1 million shares previously held by the Tamraz Group has been lifted.
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AIM - LOSERS
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Oilex Ltd, down 17% at 0.19 pence, 12-month range 0.15p-0.32p. Signs letter of intent with US oilfield services giant Schlumberger NV for the supply by Schlumberger of hydraulic fracturing services, coiled tubing and nitrogen services and perforation services for the planned re-frac of the Cambay C-77H well in July. Company adds: "Due to the higher than anticipated C-77H re-frac costs caused by a global shortage of fraccing services and equipment, and the delayed start up of gas production on the Cambay field, Oilex plans to raise additional funds over the next approximate month." Also agrees gas sales agreement for the sale of gas from Cambay. The revised gas price is now USD7.32/mmBTU compared to the previous gas price of about USD4.2/mmBTU.
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By Paul McGowan; paulmcgowan@alliancenews.com
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Renold (RNO)
Petrel Resources (PET)