Alaska-focused oil and gas explorer Pantheon Resources (LON: PANR) reports that the Megrez-1 well shows a large light liquids column and there appear to be three hydrocarbon bearing zones. This is in the Ahpun field. Long-term testing will start next year. The share price jumped 19.9% to 28.125p.
Digital media company Digitalbox (LON: DBOX) expects 2024 revenues to be at least £3.5m. EBITDA will be better than expected. Trading at all six digital brands has improved ahead of Christmas. Audience performance is strong, and the launch of Emmerdale Insider has gone well. The share price recovered 14.1% to 4.85p.
Insurance premium finance provider Orchard Funding (LON: ORCH) increased its loan book by 14% to £67m by the end of July 2024. Full year net total income was 23% higher at £6.89m but expected credit loss jumped from £140,000 to £1.17m. Earnings dipped 8% to 7.39p/share. There is no dividend. The share price improved 14% to 24.5p.
Victoria (LON: VCP) chief executive Philippe Hamers bought 200,000 shares at 40p each, taking his stake to 461,648 shares. Morgan Stanley increased its shareholding to 12.5%, while Vulcan Value Partners has cut its stake from 8.88% to 2.43%. Floorcoverings supplier Victoria recently reported a 7.5% decline in interim revenues to £586.8m. Underlying EBITDA was 45% lower at £50.2m. Annualised cost savings of £32m have been secured or planned. A full year pre-tax loss is forecast. The share price rebounded 12.1% to 44.6p.
FALLERS
Oracle Power (LON: ORCP) has submitted a mining lease application for the Northern Zone Intrusive Hosted Gold project in Kalgoorlie, Australia. Drilling continues on the project. The share price slipped 24.1% to 0.033p.
Shares in Trinidad-focused oil and gas producer Touchstone Exploration (LON: TXP) have fallen a further 10.8% to 20.75p. This is due to disappointing production guidance for the company. Net production guidance for 2025 is 6,700-7,300 barrels of oil equivalent/day and that should generate cash of $22m at an oil price of $71/barrel. Three-quarters of production will be gas. There are four wells planned at Cascadura, which will be most of the 2025 capital expenditure of $23m.
Alien Metals (LON: UFO) shares declined 5.56% to 0.085p after it postponed its end of year investor webinar that was due to happen on Thursday.
Media sales company Dianomi (LON: DNM) says the second half improvement was not as great as anticipated and revenues were £1m lower than expectations at £28m. That means that there will be a small loss in 2024. Net cash is £7.8m. The share price dipped 3.33% to 43.5p.