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Risers & Fallers: AFC Energy, Azonto, JKX Oil & Gas, New World Oil & Gas, Red Rock, Trap Oil

Last updated: 10:26 20 Mar 2015 GMT, First published: 11:26 20 Mar 2015 GMT

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The following are some of the major news-drive share price changes as at 11.00am.

RISERS

AFC Energy (LON:AFC) was back on the march, after three days of profit taking. The shares moved up 13% at 19.25p, some way short of Monday's closing level of 27p, but well up on the 8.60p at which the shares were trading before the recent excitement started. That excitement was sparked by the 9 March announcement of a project development agreement in Korea and really gathered pace after an investor presentation on 13 March.

North Sea oil junior Trap Oil (LON:TRAP) is enjoying a prolonged spell in the sun after the tax breaks given to the UK oil industry in this week's Budget. The shares climbed 16.1% to 0.90p this morning.

Another oiler going well was New World Oil & Gas (LON:NEW), which has agreed a six month extension to it licences in Denmark to enable it to carry out additional technical work, pushing the shares up 3.7% to 0.14p.

FALLERS

Profit takers have moved in at Red Rock Resources (LON:RRR), after the shares advanced briskly yesterday following a £1mln fund raising. The shares tumbled 15% at 0.09p.

In similar vein, Azonto Petroleum (LON:AZO) retreated 13.3% to 0.33p after it shot up yesterday on the back of a large block of shares changing hands on the Australian Stock Exchange, where the company's shares are also listed.

JKX Oil & Gas (LON:JKX) lets the side down a bit so far as oil & gas explorers are concerned, with an 8.5% slide to 32.5% following its full-year results. The company made a loss after tax and one-off items of US$79.5mln, versus a profit the year before of US$6.5mln. Ukraine, Russia and, to a lesser extent, Hungary, are not the best places to be operating at the moment, which has been recognised by a US$69.1mln write-down of the value of the company's assets in those countries.

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