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AIM round-up: Victoria Oil and Gas, Nostra Terra, Wishbone Gold

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The AIM Index has spent Thursday’s session trading in a relatively tight range, closing less than one fifth of a point lower at 995.3

  • Victoria Oil and Gas up 105%
  • Nostra Terra Oil & Gas up 27%
  • Tri-Star Resources down 21%
  • Enteq Upstream down 19%
  • Wishbone Gold up 11%

The best performer on the day was Victoria Oil & Gas [LON:VOG] which roared higher off the back of a statement this morning. The company has entered into a settlement agreement surrounding its ongoing dispute with Cameroon Holdings and also gave a positive update on a current drilling operation. Shares more than doubled in value as a result.

Nostra Terra Oil & Gas [LON:NTOG] is back on the radar for a second day, having comfortably reversed yesterday’s losses, adding 27%. As noted yesterday, there was a hint that a drilling project was progressing well – perhaps some opportunistic buying came off the back of this, although the small cap still closed on a 10% spread.

At the other end of the board, Tri-Star Resources [LON:TSTR] was the biggest faller, off by another 25% and as the company continues to plot a course towards delisting, there’s little to cheer here.

Enteq Upstream [LON:NTQ] also struggled on Thursday, sliding 19% in the wake of disappointing interim results. Revenues fell to $2.6m for the six months, compared to $6.5m for the same period a year ago with contraction in US shale drilling being seen as a key driver. Operations beyond the US are progressing well, but those headline numbers clearly gave cause for concern.

Today’s notable mention goes to Wishbone Gold [LON:WSBN]. Shares finished up 10%, although intra-day highs were significantly above that level. The company issued a note around midday to announce that it had completed the acquisition of mining rights in Western Australia.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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