Petrofac (PFC ) shares ticked up 4.08% to 107.2p despite recent bribery charges
Shares in the international service provider were up despite the group’s recent statement acknowledging an announcement by the Serious Fraud Office, that a former employee of a Petrofac subsidiary gas had admitted further charges under the UK Bribery Act 2010.
As a result of the bribery charges, the stock has shed nearly 40% in value since the beginning of the month. The charges relate to three historic contract awards in the UAE in 2013 and 2014. It stated that no charges have been brought against any other officers or employees.
A small number of former Petrofac employees are alleged to have acted together with the unnamed individual concerned, although the group stated that none have been charged. It added that the current Board member of Petrofac Limited is alleged to have been involved.
“Petrofac's management is committed to operating at the highest standards of ethical business practice. Petrofac continues to engage with the SFO and will respond to any further developments as appropriate,” the company wrote at the end of its statement.
Zephyr Energy (ZPHR ) shares jumped 47.95% to 2.675p
The Rocky Mountain oil and gas company said that following the completion of drilling and data acquisition activity, the State 16-2 well in the Paradox Basin in Utah was plugged safely at 6,437 feet TD, and Cyclone Drilling's Rig #34 was formally released shortly thereafter.
The group recently drilled the State 16-2 well to a depth of 9,745 ft in less than 19 days, a record performance versus historical drilling in the northern part of the Paradox Basin.
Zephyr has now told investors that the State 16-2 wellbore is stable and readily available for re-use as a host from which a future sidetrack lateral appraisal well may be drilled.
A decision on whether to drill the sidetrack lateral will be made after Zephyr has full results from all of the data acquired, and it currently expects to make a decision by the end of March.
Mobile Streams (MOS ) shares rise 25.49% to 0.32p as revenues remain ahead of forecasts
The mobile content and data intelligence company recently posted a positive trading update showing revenues and customer growth to remain ahead of its current internal forecast.
The group said monthly revenue from its streams data business equaled the net revenue brought in via the legacy business for the first time in December. It now expects revenues from Streams Data to overtake net revenue from the legacy business for the first time this month.
The group said that with its pipeline of product development and marketing it expects to see ‘significant growth’ in 2021, with additional higher price points to come. It also anticipates launching the Streams Data service in other key global markets during the next year.
Journeo (JNEO ) shares jump 22.81% to 70p after signing framework agreement
The information systems and transport technical services group announced that it has secured a 1-year extension to a framework agreement with First Bus UK ("First Bus").
The extension, which will continue to March 2022, is expected to generate £1.8 million in revenues, and includes the provision of systems and services for new and existing vehicles along with a further 800 connections into Journeo's Software as a Service application (SaaS).
easyJet (EZJ ) shares fell 7.66% to 720.4p but the airline sees hope in summer bookings
Despite falling during Monday afternoon trading, shares in the low-cost airline group have more than doubled since the beginning of November 2020, jumping from 493.6p to 773.8p.
EasyJet recently told investors that it had seen a glimmer of hope for increased activity post-lockdown after summer bookings with its holidays arm were up 250% on last year.
"We know there is pent up demand - we have seen that every time restrictions have been relaxed, and so we know that people want to go on holiday as soon as they can," Chief Executive of easyJet, Johan Lundgren, told the BBC in a statement reported last week.