SMALL-CAP WINNERS & LOSERS: Canadian Overseas soars on oil discovery

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.

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SMALL-CAP - WINNERS

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Canadian Overseas Petroleum Ltd, up 26% at 25.80 pence, 12-month range 15.84p-32.00p. The oil and gas explorer says it has made a significant oil discovery at its Wyoming asset. Canadian Overseas estimates the total oil reservoir to have 1.5 billion to 1.9 billion barrels of oil in place, with its own lease covering 1.3 billion to 1.6 billion barrels of that. Company will start exploiting the US discovery this year, and it has already applied for permits covering four horizontal wells.

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Electra Private Equity PLC, up 5.0% at 70.36p, 12-month range 59.00p-674.00p. The private equity investor confirms it will be renamed to Unbound Group PLC and relisted on AIM by the end of the month, while reporting revenue growth during November and December for its remaining operation, Hotter Shoes. Along with better than 9% growth in revenue during the last two months of 2021, Hotter Shoes maintained a gross margin of 66%, Electra says.

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TT Electronics PLC, up 2.6% at 260.00p, 12-month range 196.00p-296.50p. The electronic resistor manufacturing company acquires mission-critical complex power and control sub-assemblies maker Ferranti Technologies Ltd from Elbit System UK Ltd for GBP9.0 million in cash.

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Gresham House Energy Storage Fund PLC, up 1.0% at 132.85p, 12-month range 110.00p-133.75p. The utility-scale battery storage fund says it sees 2021 revenue ahead of expectations. It expects earnings before interest, tax, depreciation and amortisation of its asset portfolio to be in excess of GBP40 million. This would be up from GBP15.8 million in 2020. Gresham House Energy Storage is also targetting a full year dividend 7.0p per share, unchanged from 2020.

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By Arvind Bhunjun; arvindbhunjun@alliancenews.com

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