Beacon Energy (LON: BCE) says that the Schwarzbach-2 well in Germany has encountered good quality oil-bearing reservoirs. They were found 25 metres higher than prognosis. The well could potentially materially increase the company’s production. The share price jumped 37.3% to 0.14p.
Further director buying continues to push up the share price of Serinus Energy (LON: SENX). Chief executive Jeffrey Auld has bought 250,000 shares at an average price of 2.1p and James Causgrove acquired 250,000 shares at an average price of 2.2p. The share price recovered 21.4% to 2.55p.
Audioboom (LON: BOOM) chief executive Stuart Last bought 1,083 shares at 183.5p each. This helped the share price recover 6.76% from its 2023 low to 197.5p.
AI-enhanced cybersecurity company Smarttech247 (LON: S247) is going to sell its VisionX security, monitoring and rapid response platform via Amazon Web Services Marketplace. This will broaden the potential customer base. The share price is 3.17% ahead at 32.5p.
Alien Metals (LON: UFO) has advised its lender Bennelong that it wants to cancel the second tranche of funding, which was £500,000 of convertible securities. Bennelong has $500,000 of convertible securities and 10 million warrants. This follows the recent placing raising £2m at 0.2p/share. The share price moved up 2.7% to 0.19p.
FALLERS
Tremor International (LON: TRMR) fell a further 8.83% to 160.55p following the forecast downgrades yesterday. Second quarter revenues were 10% lower than forecast. The operational gearing of the business means that finnCap has slashed its 2023 earnings forecast from 45.4 cents/share to 18.9 cents/share.
Spectral MD (LON: SMD) has sent shareholders a circular for the merger with Nasdaq listed Rosecliff Acquisition Corporation 1 and cancellation of the AIM quotation. The share price slipped 4.85% to 49p.
Trafalgar Property Group (LON: TRAF) raised £125,000 in a placing at 0.1p/share. This will provide additional working capital. The share price declined 4.35% to 0.11p.