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Nostra Terra and Roxi Petroleum both head higher

Last updated: 16:00 17 Jan 2017 GMT, First published: 10:10 17 Jan 2017 GMT

Oil drills

Nostra Terra PLC (LON:NTOG) rocketed 75% to 3.58p.

There was no official news but US giant Exxon Mobil today upped its stake in the onshore Permian Basin in the US.

This is an area where Aim -listed minnow Nostra has also just bought acreage (at Pine Mills in Texas), though Exxon splurged US$6bn so how comparable it is must be open to debate.

Roxi Petroleum (LON:RXP), another oiler,  added nearly 8% to 10.75p as executive chairman Clive Carver said results from its latest two wells in Kazakhstan were exactly as it had hoped for.

Well 142 at the BNG contract area had perforated an interval between 2,201 meters and 2,208 meters and is testing at a rates between of 215 and 290 bopd (barrels per day) using a 8 mm choke.

Two wells drilled previously, 143 and 141, are respectively producing at the rates of 479 bopd and 631 bopd using 6 mm and 7 mm chokes.

Aggregate gross production from the MJF is therefore up to approximately 1,400 bopd. 

Elsewhere confirmation that the acquisition of Perk Inc will take place on 19 January sent shares in RhythmOne PLC (LON:RTHM), the former Blinkx, down by 5% to 40.5p

Learning Technology Group PLC (LON:LTG) rocketed by 18% to 44.25p as the e-learning group said profits would beat market forecasts as margins have risen.

 

Noon.. FairFX soars on upbeat trading statement

FairFX Group Plc (LON:FFX) shares rose sharply on Tuesday Morning after the money exchange and services business told investors that revenues for 2016 were ahead of management expectations.

The company posted a turnover of £795mln for the 12 months to 31 December – a 27% increase on the year before.

Significantly, FairFX said that growth accelerated in the second half of 2016 with turnover for the six month period coming in some 45% above the same period of 2015.

Both the international payments (up 49%) and prepaid cards (up 25%) led this better than expected phase of growth.

FairFX’s corporate card platform – which is identified as a strategic priority for the group – saw turnover rise 98% from the prior year.

"The performance of FairFX during 2016 gives us great confidence for the prospects for 2017 and beyond,” said chief executive Ian Strafford-Taylor.

Nature Group Plc (LON:NGR) was another making a move this morning, and was up more than 15% shortly before lunch.

The group – which provides services such as waste treatment to the oil industry – finally announced it had sold off its Nature Port Reception Facilities subsidiary, a deal which has been in the offing for over a year.

Nature will get £4mln for the sale, of which £3mln has already been paid up front with another £1mln held in escrow for up to two years.

Elsewhere, shares in CloudTag Inc (LON:CTAG) fell on Tuesday after one of the personal health technology group’s main backers – L1 Capital Global Opportunities Master Fund – upped its stake in the company.

L1 converted £300,000 worth of loan notes into 4.6mln shares at a conversion price of 6.5p, and exercised warrants over 2.9mln CTAG shares at a price of 6p each.

 

10am...Bumper Christmas sales cheer Distil

It was chin-chin all round at spirits specialist Distil PLC (LON:DIS) as bumper third quarter sales sent its shares up 21%

The owner of RedLeg Spiced Rum, Blackwoods Gin and Vodka and Blavod Black Vodka said Christmas sales were up by 71% with volumes 56% ahead.

Brand marketing investment increased by 88% and bars, pubs, retail and on-line retail all saw higher sales from this additional marketing support.

A weaker pound also helped.

Premium gin was the best seller and Blackwoods did very well in all of its markets. RedLeg was also notable said Don Goulding, executive chairman.

"Quarter three is our most important trading period so I am delighted to report excellent progress over this Christmas season.

“Given the strong sales in the period to date the Board anticipates that the results for the year ending 31 March 2017 will be ahead of current market expectations."

Shares rose to 1.36p.

Strategic Minerals PLC (LON:SML) had a good morning as it reported booming sales of iron ore in New Mexico would mean a maiden profit in 2016. Shares rose 12% to 0.587p.

Spain-located copper miner Atalaya Mining (LON:ATYM) eased lower on profit taking despite some decent looking number from its Rio Tinto mine.

“Copper production during 2016 amounted to 26,179 tonnes, in line with the high end of our 2016 production guidance.

“Contained copper production during Q4 2016 was 8,938 tonnes (Q3 2016: 8,752 tonnes).

Shares dipped 8% to 148.5p, but are still 50% higher over the past twelve months.

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