Recent bear target Pantheon Resources (PANR), the AIM-quoted oil company, provided an operational update on the Alkaid #2 well.
The company said the Alkaid #2 well is delivering a total hydrocarbon liquid mixture exceeding 500 bpd from what we believe is from only c.4,000 feet of lateral. The liquid mixture includes high quality oil with associated condensates and NGL that are saleable through TAPS. The total hydrocarbon production rates confirm we have tapped into a significant hydrocarbon system.
OKYO Pharma (OKYO), an ophthalmology-focused bio-pharmaceutical company, announced its interim results for the six months ended 30 September 2022. The company said During the past six months the Group has halted any further work on OK-201 as it focuses its full energies on obtaining IND clearance for OK-101 during the fourth quarter of 2022. This IND filing was successfully cleared and announced on 22 December 2022.
It looked like it was time for the company to deliver new board members who have “been there, done that.” Powerhouse Energy Group (PHE), the UK technology company commercialising hydrogen production from plastic, announced that that it has appointed Antony Royston Gardner-Hillman as Non-Executive Chairman in addition to Anthony Clive Gale and David John Hitchcock, as Non-Executive Directors of the Company with effect from 1 January 2023. The company also said the work has continued towards finalisation of the agreements regarding the joint venture with Peel NRE Ltd to form a special purpose vehicle, Protos Plastics-to Hydrogen No 1 Ltd.
Oberon Investments Group (OBE), the boutique corporate broking group, announced its unaudited results for the six months ended 30 September 2022. The company said net inflows of clients and assets have offset market declines in the wealth management division, with the underlying performance of the Investment Management division being relatively strong. It expects FUMA growth to continue in the new year.
Bens Creek Group (BEN), the owner of a metallurgical coal mine in North America, announced that Robin Fryer, Non-Executive Chairman of the Company, on 29 December 2022, acquired 150,000 options over ordinary shares in the company from a former US-based employee at a price of 16.5p per option. In the event that Robin Fryer exercises the share options, he will also be required to pay the company 5p per share option exercised.
Harland & Wolff Group (HARL), the UK quoted company focused on strategic infrastructure projects, announced a trading update in respect of its year end to 31st December 2022, as well as an update on its debt refinancing programme announced on 9th November 2022. The company said whilst it is disappointing that it has not met its aspirations for FY 2022 due to timing issues, it has made significant progress over the last twelve months, and is confident that it will see a robust 2023 with deferred revenue from 2022 which will start getting booked during the course of H1 2023.
TomCo Energy (TOM), the US operating oil development group, provided an update with respect to the Company’s 100% owned subsidiary, Greenfield Energy LLC’s, potential acquisition of the remaining ownership and membership rights and interests in Tar Sands Holdings II LLC. The company said the agreement has now been varied in order to extend the exercise period of the option. Accordingly, Greenfield may now exercise the Option, at its sole discretion, by delivering a notice of exercise on or before 28 February 2023 and making payment of the $16.25 million cash consideration by no later than 3 March 2023.
Invinity Energy Systems (IES), a manufacturer of utility-grade energy storage, provided an update on contracted projects currently being delivered. The company said it was pleased to be able to meet production goals for important projects in Canada and Australia. External factors now mean that it will not recognise revenue on these projects for a short time, unfortunately crossing a year’s end. Still, it has continued to enjoy positive relationships with its customers. It is now able to project a very exciting 2023 with revenue greater than originally expected.
Nostra Terra (NTOG), the international oil & gas exploration and production company, provided a production and operations update for the Company for Q3 2022. The company said production remains robust, with quarterly sales surpassing $1 million for the second consecutive quarter. Despite having several wells down for the period, during the planned facility improvements at Pine Mills, it still managed a slight increase in production.
Predator Oil & Gas (PRD), the Jersey based Oil and Gas Company, announced that the Star Valley Rig 101 is now on the MOU-2 well location. Final preparations are being made to commence drilling. A further update will be given, which is subject to partner approval, when MOU-2 reaches its intended pre-drill total depth of 1,500 metres TVD KB and prior to the commencement of wireline logging operations.
Mobile Streams (MOS) announced its audited results for the year to 30 June 2022. The mobile contents and data group said group revenue for the year ended 30 June 2022 was £1.0m (2021: £0.4m). Whilst the legacy revenues continued to decline to £223k (2021: £258k), revenues from new sources increased to £799k (2021: £137k). The new revenue sources from Streams Data are comprised of £564k from International Gaming Systems, a major contract win during the year, and £235k from other new revenue sources.
Critical Metals (CRTM), a mining company established to acquire mining opportunities in the critical and strategic metals sector, provided a market update on the Project and the company’s milestones since its readmission trading on the London Stock Exchange on 12 September 2022. The company said 2022 has been a most positive and uniquely transformational year and it looks forward to updating shareholders and the market again next month.
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