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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.

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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