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SmallCap Round Up: Deltic Energy, Petro Matad, Mirriad Advertising


The AIM Index continued to extend Tuesday’s gains with sluggish US wholesale inflation data adding to positive sentiment despite lacklustre economic news from closer to home. At the bell the all share was up almost four points at 750.19.

  • Deltic Energy +22%
  • Petro Matad +21%
  • Mirriad Advertising +17%
  • Myanmar Investments -36%
  • Mosman Oil -30%

Deltic Energy [LON:DELT] found favour once again, extending yesterday’s gains off the back of the upgrade to reserve calculations in its Pensacola discovery license. At the bell the stock was topping the board, some 22% ahead.

Petro Matad [LON:MATD] was in second place, up 21%. The last couple of weeks have been somewhat turbulent for the stock but support was in evidence today despite the lack of any fresh news. Volumes were however down from recent levels.

Mirriad Advertising [LON:MIRI] gets the notable mention, up 17%. The company found itself sold off heavily at the start of the week in what by all accounts looked like a panic exit. There’s no news out but perhaps some real value is perceived down here.

Myanmar Investments [LON:MIL] sat 36% lower at the bell, pushing it into last place. This is however a minnow of a company, with very few trades going through. The downside barely exceeds the spread.

Mosman Oil [LON:MSMN] was in second to last place, off 30%. However the company completed a share placement this morning, with the discount reflecting the value of the new equity. The £300,000 raised will be deployed across a number of initiatives including extending well developments in addition to funding working capital.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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