(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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Riverstone Energy Ltd - Guernsey-based investment firm focused on energy and power - Reports a net asset value per share of USD14.52, or GBP11.99, as of December 31. This represents a 17% increase in USD terms and a 30% increase in GBP terms compared to the company's NAV at the same time a year prior. Explains that power producer Onyx and energy and power firms Hammerhead and Permian were the largest drivers of NAV improvement over the year. Looking forward, Riverstone says it believes past work with its legacy commodity-linked portfolio and work to identify strong growth equity opportunities in the decarbonisation space, has positioned its portfolio "well" to capitalise on the "upside of energy market volatility and the steady march toward a decarbonised economy."
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SuperSeed Capital Ltd - Guernsey-based venture capital fund focused on early-stage technology investments - Notes that 2022 saw "significant market volatility and economic uncertainty", which it says resulted in significant falls in software-as-a-services companies' valuations during the year. However, it explains that robust revenue for the fund's portfolio companies "more than made up for the multiple contraction". Adds that the outlook for the fund's portfolio in 2022 is "very encouraging," saying that revenue for the existing portfoilo is expected to "more than double" over the course of the year before any new companies are added to the portfolio. Reports NAV per share of GBP1.0192 at the end of 2022 and income totalling GBP163,538 in the year as a whole.
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SDX Energy PLC - Middle East and North Africa-focused oil and gas exploration and production company - Reports an average gross production of 38.5 million standard cubic feet equivalent per day in the South Disouq area in Egypt in 2022. Adds that the SD-5X well in the area is on production and is exceeding immediate post-drill volume expectations. In the West Gharib area in Egypt, reports an average gross production of 2,033 barrels of oil equivalent per day in 2022. Says results of the Rabul SE-1 exploration well in this area will be communicated to the market in "due course." SDX Energy reports average gross production of 4.9 million standard cubic feet per day for 2022 in Morocco. Adds that the KRS-20 discovery well in Morocco is now currently on production. Expects to publish full-year results near the end of April. In other company news, notes that interim Chief Financial Officer Daan Hanssen has resigned. He will leave at the end of May.
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LendInvest PLC - London-based non-bank mortgage lender - Completes the sale of its non-risk retention residual economic interest in Mortimer BTL 2020-1 PLC for GBP7.0 million in cash. Says the transaction will reduce the company's gross loans and advances of GBP212 million. It will generate a net pretax gain of GBP1.3 million for financial 2023, in-line with management expectations.
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San Leon Energy PLC - Nigeria-focused oil and gas production, development and exploration company - Notes an announcement made by Decklar Resources Inc. San Leon has an 11% shareholding in Decklar Petroleum Lltd, the local subsidiary of Decklar operating in Nigeria. Decklar Resources signs a crude oil sale and purchase agreement with its co-venturer Millenium Oil & Gas Co Ltd to deliver an additional 150,000 barrels of crude oil to Edo Refinery & Petrochemicals Co Ltd in Nigeria. Decklar and Millenium also enter a sale and purchase agreement with Duport Midsteam Co Ltd to deliver 5,000 barrels of oil to the Duport refinery, also in Nigeria.
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By Heather Rydings, Alliance News senior economics reporter
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Riverstone Energy (RSE)
SDX Energy (SDX)
Lendinvest (LINV)
San Leon (SLE)