The drift for London’s AIM Index continues, albeit at a very gradual pace with the all share selling off by less than half a point today, reaching the bell at 807.97
- Barryroe +32%
- Pantheon Resources +21%
- Southern Energy +13%
- Eneraqua Technologies -40%
- Lansdowne Oil & Gas -24%
Barryroe [LON:BEY] is at the top of the board, reversing at least some of yesterday’s losses off the back of the Irish license dispute which was announced on Friday night. There has only been very limited trade but bargain hunters appear to be sensing there’s a deal to be had.
Pantheon Resources LON:PANR advanced 21% on the day. There’s no fresh news out, but last week’s oversubscribed fundraise appears to be offering some confidence that positive moves may be forthcoming, with the stock having been struggling since that corporate update at the start of March.
Southern Energy [LON:SOUC] gets the notable mention today, having added 13% off the back of a purchase and sale agreement, with the company now having 100% ownership of an asset in Mississippi. The company is exploiting the current low natural gas price to expand its portfolio.
Eneraqua Technologies LON:ETP slipped 40% on the day off the back of full year results. Revenues added 52% and shareholders are being rewarded with a 20% uptick in dividends, but despite all that there has been someone – likely an insider waiting for the close period to end – wanting to find an exit. There has been some juggling of delivery in terms of where work is booked, but the long term outlook appears upbeat.
- Small Cap Stocks: Aquis, Gfinity, Team Internet
- Small Cap Stocks: Tasty, Insig AI, Jersey Oil & Gas, Eurasia Mining
Lansdowne Oil & Gas LON:LOGP was 24% lower at the bell, this being the flip side of the Barryroe story. If Lansdowne can build a strong enough case then shareholders could be in for a bumper payout but the legal case here won’t be quick or cheap to resolve.