AIM WINNERS & LOSERS: Petroneft says well results "very encouraging"

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

Alliance News 2 March, 2021 | 10:11AM
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(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

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AIM - WINNERS

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Petroneft Resources PLC, up 11% at 2.445 pence, 12-month range 0.45p-2.5p. The Russia-focused oil & gas exploration and production company says the hydraulic fracture stimulation program of wells on both the Sibkrayevskoye and the Lineynoye fields successfully completed. Initial results from the wells are "very encouraging".

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Chariot Oil & Gas Ltd, up 8.8% at 9.21p, 12-month range 1.26p-14.4p. The Africa-focused transition energy company signs memorandum of understanding along with partner the Office National des Hydrocarbures et des Mines with Morocco's Ministry of Industry, Trade & Green & Digital Economy. The memorandum states that the ministry will support the Anchois Gas Development to "enhance job creation, regional integration through the development of strategic infrastructure and the promotion of clean and competitive energy for consumption by the Moroccan industrial sector."

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AIM - LOSERS

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Hurricane Energy PLC, down 16% at 3.12p, 12-month range 2.15p-17.61p. The UK based oil and gas company says proposed side track on the Lancaster field "more complex in nature" than previous wells due to the incorporation of an "intelligent completion" and the challenges of delivering the well trajectory from the side-track location. "As a result, the company has concluded that it will not be possible to drill this well during the 2021 summer weather window without unacceptable operational and cost risk," says Hurricane.

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CloudCoCo Group PLC, down 11% at 1.6p, 12-month range 0.5p-2.17p. Reports growth in revenue for financial year ended September 30 to GBP8.0 million from GBP7.3 million the year before, while pretax loss slims to GBP3.0 million from GBP5.6 million. Even with Tuesday's fall, the IT services provider's stock has still gained 55% since the start of 2021 alone, and is up 72% over past 12 months.

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Synectics PLC, down 10% at 135.06p, 12-month range 85p-157p. The provider of security systems reports results for financial year ended November 30 "significantly affected by the pandemic". Revenue falls to GBP44.6 million from GBP68.5 million the year before, and swings to pretax loss of GBP6.3 million from profit of GBP1.6 million.

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By Lucy Heming; lucyheming@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
CloudCoCo Group PLC 1.33 GBX -3.64 -
Chariot Oil & Gas Ltd 8.55 GBX 0.00 -
Hurricane Energy PLC 2.70 GBX 3.05 -
Synectics PLC 150.00 GBX 0.00 -
Petroneft Resources PLC 2.35 GBX 9.30 -

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