Clontarf Energy (CLON) shares see light relief, jumping 24.24% to 0.102p
The oil exploration firm confirmed this week that it failed to intersect commercial hydrocarbons at its Sasanof-1 exploration well located 207 km northwest of Onslow in Western Australia.
The well, which was drilled to a total depth of 2,390 metres by the company’s Valaris MS-1 rig, with zero reported incident, is expected to be plugged and abandoned permanently, according to the outlined plans in today’s statement, followed by the start of de-mobilisation activities.
The company says it is currently exploring other opportunities and that it is in discussions for a 49% joint-venture to explore and develop new salt lakes for lithium resources in Bolivia. Shares in the company have fallen as low as 0.06p since its announcement on Monday.
Osirium Technologies (OSI) shares rise 13.33% to 8.5p as firm secures first PEM client
On Tuesday afternoon, Osirium Technologies confirmed to investors that all resolutions had been duly passed on a poll vote at the Company’s Annual General Meeting held that morning.
Shares in Osirium have risen in recent days after the company announced its first standalone Privileged Endpoint
Management (PEM) contract with an international imaging brand. The three-year contract will see the PEM rolled out to 500 users across the client’s UK operations.
Last week’s news follows the company’s announcement back on 24 March 2022 about the group’s first PPA-led deal with the Midlands and Lancashire Commissioning Support Unit.
“With a view to capitalising on this need for greater cybersecurity protection, we are having many more conversations with existing PAM customers and new opportunities around endpoint management, as well as process automation,” Osirium told investors last week.
Intercede Group (IGP) shares rise 11.83% to 51.5p despite reporting revenue fall in FY22Shares in the UK identity and access security provider were up this afternoon despite it reporting a revenue fall for FY22 of 9% due to delays in closing large new opportunities.
On a positive note, Intercede announced in 4Q that it had received two initial orders from US Federal Agencies, both utilising its MyID CMS to deploy digital identities to mobile devices.
Sound Energy (SOU) shares fall 18.37% to 2p as it raises £4 million in share issue
The transition energy firm raised £4 at a price of 2p per share to progress a number of key value creating projects, principally pre-development work on the Tendrara Phase 2 pipeline.
The Board believes that today’s proceeds, existing cash resources and existing Phase 1 Tendrara Production Concession funding arrangements, should be sufficient to continue to advance its projects and meet its present working capital obligations through to April 2023.