Proactive Investors - Run By Investors For Investors

Lansdowne Oil & Gas lead rising exploration stocks on quiet session

Proactive takes a look at what's moving on Thursday December 28.
offshore oil operations
Lansdowne has a 25% stake in Providence Resources Barryroe field

Lansdowne Oil & Gas Plc (LON:LOGP) shares shot up around 160% on Thursday with the news that a potential farm-in partner has entered into an exclusivity agreement and is engaging in ongoing negotiations for a stake in the Barryroe field.

Provisional agreements have been made with the unnamed potential new partner, over the key commercial terms of a deal, Providence Resources revealed in a stock market statement.

Providence holds 80% of Barryroe and it is presently the operator of the project. Changing hands at 1.99p, Lansdowne shares were up 1.16p or 140.9%. Providence, meanwhile, rose 23% to trade at 7.25p.

Without discernible news a number of other small cap oilers were moving.

Petro Matad Plc (LON:MATD) shares gained 10.87% to 12.75p, Nighthawk Energy Plc (LON:HAWK) rose 9% and 88 Energy Plc (LON:88E) climbed 7%.

Eco Atlantic Oil & Gas Plc (LON:ECO) shares were up 6.5%.

Inspirit Energy Plc (LON:INSP) advanced almost 14%.

Trinity Exploration (LON:TRIN) shares backed off 6.6%, UK Oil & Gas Investments PLC (LON:IOG) was down 5.75%.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use