United Oil & Gas (UOG), which continues to be rather undervalued as compared to some of its peers, announced a trading and operational update for the half-year to 30 June 2022.
1H 2022 Group working interest production averaged 1,552 boepd in line with full-year guidance of 1,500-1,650 boepd with oil constituting circa 85% of average production. The company said United has delivered a solid financial and operational performance in the first half of 2022 supported by the high realised oil price and good cash collections including the receipt of portfolio management proceeds following strategic divestments.
There has been a bounce in shares of Hydrogen Utopia International (HUI) on speculation of a US OTC listing. The company which is pioneering non-recyclable waste plastics to hydrogen technology, announced that on 26 July 2022, Howard White, Executive Director, purchased a total of 55,500 shares at 9p. White now has approximately 3.89% of HUI and 13,333,333 warrants.
Mosman Oil and Gas (MSMN) the oil exploration, development, and production company, updated on the planned drilling at Cinnabar in East Texas, as well as a joint venture for 10% of the lease. The company said that since May when it announced the planned drilling and fundraising to pay for the well, planning has moved forward on all required fronts. At this stage the timeline remains on track for drilling to commence in early September, subject to the final rig schedule. Mosman has farmed-out an additional 10% of the lease, reducing the amount to be spent and its ownership of the lease to 75%.
XLMedia (XLM), a global digital performance publisher, announced a trading update for the six months ended 30 June 2022. The Group expects H1 2022 revenue of approximately $44.5 million (H1 2021: $32.2 million) and Adjusted EBITDA of approximately $10.5 million (H1 2021: $6.6 million). The company said it has traded well across the first six months of the current financial year, buoyed by its newest vertical, US Sports, which produced a strong performance in the period and accounted for 68% of the Group’s revenue, $30.2 million. Trading for the current financial year is performing in line with expectations.
Yourgene (YGEN), the international molecular diagnostics group, announced its final results for the financial year ended 31 March 2022, and provided an unaudited update on trading for the first quarter of the current financial year. The company said it delivered record revenues as a result of high demand for its COVID-related products and services. Yourgene said it has progressed significantly over the last few years, and remains focused on its long-term growth strategy despite some of the challenges faced over the last two years.
Quadrise (QFI), the supplier of MSAR® and bioMSAR™ emulsion technology and fuels, announced it has signed a Framework Agreement with MSC Shipmanagement Limited of Cyprus, a 100% subsidiary of MSC Mediterranean Shipping Company SA. The company said this is an important milestone as it progresses its projects and deepen its relationships with leading energy suppliers and users to reduce energy consumption, costs and emissions.
Coro Energy (CORO), the South East Asian energy company with a natural gas and clean energy portfolio, announced that its Italian portfolio has produced and sold gas during the first and second quarter of 2022. The company said the increase in production in the second quarter of 2022 largely reflects Sillaro recommencing production mid-March. It noted the continued momentum in domestic Italian natural gas prices into July 2022, which would, at current levels, result in further increases in monthly revenues over Q2 2022 exit monthly revenues.
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