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A heavy day of losses across the AIM market today, with the index tracking global sentiment lower to close down more than 23 points at 949.08.

  • Chariot Oil & Gas up 26%
  • Borders & Southern Petroleum up 15%
  • Jaywing up 15%
  • Tlou Energy down 23%
  • Metals Exploration down 23%

Chariot Oil & Gas [LON:CHARC] jumped to the top of the board today, adding 26% after reporting the receipt of two expressions of interest to support work on the Anchois Gas Discovery. This looks to be an expensive project to develop but the expressions come from heavyweights with deep pockets.

Borders and Southern Petroleum [LON:BSTH]  make it onto the list today rising 15% but on a hulking great spread which was quoted as 45%. Add this to their £3m market cap and there’s really little to say here.

Tlou Energy [LON:TLOU] is back on the board with a second day of notable losses, declining 23% on Wednesday. That funding update from yesterday is still being digested, with media reports of the move today arguably putting the issue under even greater scrutiny.

Metals Exploration [LON:MTL] which saw incredibly sharp gains at the start of the week following its return to the market retreated 23% on Wednesday. Again no news behind the move, but with such a rampant run higher in a short space of time a degree of profit taking was perhaps as good as inevitable.

Jaywing [LON:JWNG] added to yesterday’s rally, adding 15% and making it Wednesday’s notable mention. Again, there’s still no news and volumes were far from exceptional, but the stock remains one to watch.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Tony Cross

Tony Cross

Tony Cross is a market commentator with over 15 years of experience, producing compelling, insightful copy for journalists and investors alike. Focusing on macroeconomics, UK blue chip equities and inter market analysis, Cross's commentary is well regarded for its clarity and ability to cut through the waffle. He has been quoted in publications as diverse as The Financial Times, The Times, The Guardian and The Sun. He has also been a regular guest on both Share Radio and TipTV.

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