Synergia Energy (LON: SYN) says farm-out partner Selan Exploration has contracted a drilling rig and the first well should be drilled in September. There will also be workovers of existing wells. Synergia Energy is fully carried for a $20m programme that includes three new wells. Selan Exploration will earn 50% of the Cambay PSC. The share price increased 28.6% to 0.0225p.
Security services provider Westminster Group (LON: WSG) says formal operations have commenced for the 15-year contract covering four airports in Gabon. Westminster is upgrading the security infrastructure. Revenues are based on passenger numbers. The contract could generate $5.5m in the first 12 months. The share price rose 17.1% to 2.4p.
Following last week’s surprise trading statement from contract research business hVIVO (LON: HVO) chief executive Mo Kahn bought 1.1 million shares at 8.9p each and finance director Stephen Pinkerton acquired 683,232 shares at 8.76p each. Two contracts have been cancelled, including one large human challenge trial, and one has been postponed, triggered by fears about drug pricing in the US. Contracted revenues are still £47m, but Cavendish expects a loss this year. The share price rebounded 23.6% to 10.75p.
Rail transport analytics provider Cordel (LON: CRDL) has won a second major US Class 1 freight rail contract worth up to $7.5m. The five-year contract is for multiple LiDAR capture units and a Cordel Connect data platform. It also covers the new Positive Train Control asset management platform, which is about to be launched. This should help Cordel move into profit in 2025-26. The share price is 13% ahead at 7.625p.
FALLERS
In 2024, Trellus Health (LON: TRLS) reported an increased loss of $7.8m on minimal revenues. Net cash was $4.3m at the end of 2024 and this fell to $2.5m at the end of April 2025. More finance is required by October. The pilot with Johnson & Johnson covering Trellus Elevate supporting individuals with IBD is ramping up. The share price slumped 44.4% to 1p.
US-based Neptune Retail Solutions has informed digital loyalty and promotions platform operator Eagle Eye (LON: EYE) that a US grocer is terminating its contract at the beginning of August. This is a high margin contract and is the only one obtained via Neptune Retail Solutions. This will not hit the figures for the year to June 2025, but there will be sharp falls in forecast revenues and profit over the next two years. The 2025-26 revenues estimate has been reduced from £52.5m to £43.1m and Eagle Eye will make a loss. Net cash is still expected to be more than £10m at the end of June 2026. There are potential new contracts that could improve the outlook. The share price dived 38.1% to 218p.
Tekcapital (LON: TEK) raised £1.25m at 7p/share and £500,000 will be invested in growing business at the Guident control centre and for the company’s flotation later this year. Tekcapital reported an NAV of 33 cents/share. The fundraising will dilute that figure. The share price fell 17.8% to 7.4p.
Tower Resources (LON: TRP) says day rates for jack-up rigs are falling and the oil and gas company is completing its rig selection, and it intends to finalise the Thali licence extension in Cameroon before drilling NJOM-3 in the fourth quarter. This could confirm that the oil discovery is commercial. The share price declined 13% to 0.0235p.