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TRADING UPDATES: Oilex plans Cambay wells; eEnergy buys UtilityTeam
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Drill Collar Market Report 2021, Share, Size, Trends, Forecast and Analysis of Key Players 2026
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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.
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ADM Energy, a natural resources investing company, has entered into a non-binding collaboration agreement with OES Energy Services Ltd, Nigeria’s largest swamp rig services provider, and 4Mation Drilling Services Ltd, a solution provider in the energy sector.
ADM, OES and 4Mation plan to explore opportunities to develop the Barracuda field in OML 141 and associated work-related activity in Nigeria. It is the intention of the parties, together with the risk sharing consortium in respect of the Barracuda field, that a formal agreement will be entered into in advance of any work commencing. The CA may be terminated by mutual consent.