Oilex raises funds to take full control of Indian gas project
A look at the major movers on the London market on Wednesday
Oilex Limited (LON:OEX) has seen its shares gush up after it finalised the funding to take full control of an Indian gas project, something it has been trying to do for more than four years.
It has wanted to buy the 55% of the Cambay field it does not own since 2016 but it got into a spat with its partner - the state-backed Gujarat State Petroleum Corporation Limited (GSPC) - over expense payments which at one point went to an Indian court.
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A glance at some of the day s highlights from the Proactive Investors newswire
Argo Blockchain PLC (LON:ARB) revealed that it has signed a contract with Navier Inc, a specialist designer and builder of cryptocurrency mining facilities, to co-develop the company’s new facility in Helios, Texas.
Parity Group PLC (LON:PTY) said it has seen an encouraging start to 2021 and anticipates more growth in the second half as business confidence returns.
Savannah Resources PLC (LON:SAV) said it raised £10.3mln, before expenses, through an oversubscribed placing and direct subscription and that the net proceeds will mainly go towards progressing its flagship Mina do Barroso project in Portugal.
Catena Group jumps after buying machine learning group for £27.9mln
A look at the major movers on the London market on Wednesday
1.19pm: Deal lifts acquisition specialist
Catena Group PLC (LON:CTNA) has seen its shares surge after the AIM-listed holding company unveiled a £27.9mln deal and returned from September s suspension.
Its is paying a mixture of cash and shares for Insight, a data science and machine learning solutions company. It already owns 9.1% of Insight, and the acquisition counts as a reverse takeover and needs shareholder approval.
In the market shares in Catena - which will change its name to Insig AI PLC after completion - have jumped 14.9p or 25.25% to 73.9p.
TRADING UPDATES: Wentworth payout up; Distribution Finance loss steady
Wed, 21st Apr 2021 19:18
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
Wentworth Resources PLC - Tanzania-focused natural gas producer - Revenue for 2020 rises 1.9% to USD19.0 million from USD18.6 million in 2019, while pretax profit surges to USD2.2 million from USD987,000. Profit growth outstrips revenue increase as cost of sales falls 7.1% to GBP9.4 million. Says performance was strong and resilient against challenging backdrop. Declares dividend of 1.0 pence per share, bringing total dividend for year to 1.5p, up 27% on 2019. Adds that it has seen a record first quarter performance to date, with average production volumes for the first quarter of 2021 84.7 million standard cubic feet per day per day versus 63.6 million a year ago.
Oilex raises funds to take full control of Indian gas project
A look at the major movers on the London market on Wednesday
Oilex Limited (LON:OEX) has seen its shares gush up after it finalised the funding to take full control of an Indian gas project, something it has been trying to do for more than four years.
It has wanted to buy the 55% of the Cambay field it does not own since 2016 but it got into a spat with its partner - the state-backed Gujarat State Petroleum Corporation Limited (GSPC) - over expense payments which at one point went to an Indian court.