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Trading Update and Notice of Half Year Results Corac, a group of innovative gas, air and energy technologies businesses, announces that its Interim Results for the six months ended 30th June 2014 will be published on Tuesday, 9th September 2014. The Board is pleased with the Group's progress in the year to date. It remains focussed on delivering growth in all its businesses, and continuing to reduce losses. The Group retains a robust financial position and order book. Further commentary on trading, project progress and strategy will be provided as a report with the results. Corac Energy Technologies (CET) is concentrating its activity on selected commercial programmes and investment in improving their development and test facilities. The Company anticipates receiving the first multi-unit orders in the renewable energy sector later in the year. The Group has seen growth in both Atmosphere Control International (ACI) and Hunt Thermal Technologies (HTT) businesses; there is a strong pipeline of contract opportunities in their sectors, reflecting both companies' leading technologies and strong competitive propositions. Corac Group Chief Executive Phil Cartmell commented: "The first half has been very encouraging, not only for the improving financial performance but also the alignment of the businesses to their true technical strengths and established relationships in the market. "The Board now looks ahead, having reinforced our belief that the Group has increasingly valuable foundations, with many opportunities for success."
on this share. I have been following form a distance for a while but think this is going to be one to watch over the next few weeks.
I agree. Further positive news and reflected in the rise in SP.
That was pretty much my take. Not a negative signal but not a ringing endorsement either.
Any thoughts on the May RNS?
Any reason? I think the SP is undervalued but rise seems to be on no news?
Enegi Oil (ENEG.L, 7.75p) - Speculative Buy Yesterday, Enegi Oil released interim results for the six months ended 31st December 2013. Revenues from continuing operations were nil as against £84,000 in H1 2012, mainly due to the suspension of activities on the Garden Hill Field. Loss from operations narrowed 11.9% to £1.3m and loss per share contracted 27.3% to 0.8p. During the year, the company farmed-out its PL2002-01(A), EL1116 and EL1070 licenses in western Newfoundland to Black Spruce Exploration (BSE) for development. As per the deal, BSE would fund the development costs of the work programme for as many as 12 wells to earn a working interest therein. Enegi continued to work towards development of its 50% joint venture named ABT Oil and Gas (ABTOG) with Advanced Buoy Technology (ABT) to secure and develop interests in stranded, offshore oil reserves with the use of ABT's technology. Enegi is focused on the project acquisition, delivery capability, industry endorsement and project delivery for a proper implementation and delivery of marginal field initiatives. The future work plan of Enegi includes commencement of drilling programme in western Newfoundland, application for further assets in the 28th Seaward Licensing Round for the UK Continental Shelf (UKCS) by ABTOG, etc. During the period, Enegi raised additional funds of £825,000 and £960,000 (net of expenses) through a share placement and a loan, respectively. These funds are directed towards the marginal field initiatives and to facilitate the repurchase of 12.3 million shares from BSE. Our view: Enegi Oil is making good progress towards the use of ABTOG’s production buoy technology to commercialise some of its marginal fields. Through its participation in the 28th Seaward Licensing Round and ongoing negotiations with various third parties, ABTOG is likely to add further low risk marginal field projects to its portfolio. The recent round of funding has placed the company in a good position to proceed with multiple work programmes, including the work over the Fyne field and for participating in other lucrative marginal fields. Besides, the farm-out of Newfoundland assets to BSE is likely to facilitate a smooth progress of those assets. With these positives and the recent extension of its exploration licence EL1116 in Canada for 12 months, we are optimistic about the future growth prospects of Enegi and reiterate a Speculative Buy.
That just about sums it up.
A friend had suggested a quick punt on Paragon Diamonds which has done quite well so I've top-sliced and I'm going to take another punt and top-up here. I regard the top sliced money as a bonus and I kept a little back but put just over £2K in here. Brings me up to about £6K in toal so I would quite like this to make some progress now. Fingers crossed!
The market which never fails to disappoint.
I think we shoul stay there at least.
Well a small one at least. Nice to see decent movement at last.
Me too Yantan but not quite at the yipee stage yet.
Finally some movement in the share after unusual flatline. If 2014 isn't Corac's year, it will never be Corac's year.
this share started to get back to a proper value.
I think it is important that Kolar keep PIs as well informed as possible. I hope to see communication soon.
Should be a good play for this year.
Anyone know? I've had these in my dusty drawer for a long time.
I share your irritation at this!