Shares of i3 Energy (I3E), the independent oil and gas company with assets and operations in the UK and Canada were boosted by yet again by another 10% in the wake of recent final results to the year ending December 2020. Given the way that Crude Oil remains on the front foot price wise, on post COVID-19 recovery hopes, it would appear that the sprawling group is a situation of interest given that we are still in the run up to the company’s maiden dividend pay out – the pathway to which is now well on track. The latest announcement that the group is to double its stake in the South Simonette Project has also boosted sentiment this week.
Sticking with the oil space and JKX Oil & Gas (JKX) said that its IG149, a new well drilled in the Ignativske field in Ukraine, started production on the 21st May reached a maximum oil rate of 1,280 bpd with 19 Mcmd of gas (1,391 boepd) on a 30/64th" choke. The well has averaged 777 bpd of oil and 80 Mcmd of gas (1,248 boepd) with a wellhead pressure of 1,139 psi over the first ten days of testing. Further testing will be carried out to determine the optimum choke setting to maximise oil recovery and in the meantime the shares jumped 21%.
Powerhouse Energy (PHE) finessed its recent announcement earlier this week, that Peel NRE, part of Peel L&P, is planning to develop its second waste plastic to hydrogen facility on the Clyde, using Powerhouse technology. The UK technology company commercialising hydrogen production from non-recyclable waste plastic, said that it has ordered the critical key alloy material to be used in the manufacture for the DMG Advanced Thermal Conversion Technology process. This is to be installed at the first plastic to hydrogen facility located at Peel NRE’s strategic energy and resource hub Protos in Ellesmere Port.
Shares of Morocco focus Potash play Emmerson (EML) soared 13% off the back of no official news from the company and bouncing off recent 5p multi month support. This suggests that some traders are betting on imminent news, and triangulating off the back of expectations surrounding the company, this is most likely to be related to potential funding partners. This is especially the case given the way that the company suggested in its Audited Results for the year ended 31 December 2020 as reported last month that “Over the last couple of years, we have engaged with numerous potential funding partners and have identified several which we believe would make excellent partners for the Company in the development of Khemisset.” Presumably, such engagements are getting that much closer to a denouement, at least from the perspective of some traders in the market.
While fans of Quantum Blockchain (QBT) may be waiting for the starting gun on quantum computers upping the ante, in the meantime we were treated to the latest old school update from Argo Blockchain (ARB), the present leader of the pack. Here we found out that last month it mined 166 Bitcoin compared to 163 BTC in April, or 716 BTC year to date. Argo said it had generated this income at an average monthly mining margin of approximately 82% for the month of May despite fluctuations in mining difficulty. Despite the green considerations, which may or may not be relevant, the fact Argo is a business with 80% plus margins may be a decisive positive factor for investors looking for an edge in terms of their portfolio returns.
Investors of a certain age may remember the campaign, “Domestos kills 99% of all known germs.” Not far behind in its space according to cyber sentry Brandshield Systems (BRSD) is its offering, with electronics giant Bang & Olufsen taking down 98% of IP infringing online threats using Brandshield’s services. B&O said it was impressed by the London listed group’s legal competence, combined with a deep commercial understanding of how the Danish firm’s business works. In turn, Brandshield highlighted how B&O’s customers gain protection under its auspices.
Shares of Boston International Holdings (BIH) have previously been most famous for being off the radar. However, it would appear that the merit of the announcement late in April are finally kicking in and now BIH is very much in the spotlight. The stock rose some 26% as the implications of the arrival of two heavy hitters at the RTO vehicle started to kick in. Christopher Pitman as Chairman has held chief executive and president roles within both privately and publicly owned entrepreneurial oil companies and international service companies. Martin Lampshire, the Non Executive Director of the company has over thirty years' experience in Corporate Broking, assisting in a variety of equity raises including IPOs, secondary fundraisings, vendor and private placings across a variety of sectors.
Shares of natural resource development company Contango Holdings (CGO) were up nearly 6% in the wake of a summary of recent work undertaken at the Garalo-Ntiela Gold Project Area in Southern Mali. The work programme was designed to assist in the Company's previously reported focus of fast tracking the Project into production by the end of 2021, as well as further increasing the understanding of the wider prospectivity of the licences. Contango said most of the exploration activities have centred on the Garalo permit, which has demonstrated potential for a 2Moz Resource.