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.
