Oil and gas company Empyrean Energy (LON: EME) has concluded documentation for the dispute with Conrad Asia Energy, the operator of the Duyung PSC and the Mako gas field in Indonesia. Conrad will make an immediate $5m farm-out cash payment to West Natuna Exploration as the first instalment of the total payment of $16m. Empyrean Energy is entitled to 8.5% of these cash payments. The share price rebounded 20.7% to 0.0875p.
Eqtec (LON: EQT) has received a conversion notice for the facility agreement with Global Investment Strategy for the remaining principal of £160,000 to be converted into 470.6 million shares at 0.034p each. The share price improved 15.9% to 0.0475p.
Celsius Resources (LON: CLA) has received firm commitments of A$9.3m for a fundraising at A$0.02 from new and existing shareholders. Demand was greater than expected. The new shares come with options exercisable at A$0.035 each, while existing shareholders will receive one bonus loyalty option for every ten shares held exercisable at the same price. The cash will finance the Maalinao-Caigutan-Biyog (MCB) copper gold project in The Philippines. The share price increased 7.69% to 1.05p.
Atlantic Lithium (LON: ALL) says it has ended discussions with a potential bidder. The mining lease for the Ewoyaa project in Ghana has still not been ratified, but management believes it is in progress. Spending on exploration on other projects is being reduced to conserve cash. The share price rose 6.67% to 19.2p.
FALLERS
Oil projects developer TomCo Energy (LON: TOM) has raised £550,000 at 0.03p/share. CMC Markets has been appointed joint broker. Oil sands project developer Greenfield Energy is now jointly owned with Valkor, whose founder will join the TomCo Energy. Greenfield Energy’s loan facility provided by Valkor, currently $799,500 has been amended to extend the repayment date of the remaining loan to February 2027 after 50% is repaid in TomCo Energy shares at 0.1p each. The annual interest charge is 2.7%. The share price slumped 31.85 to 0.0375p.
Wound healing technology developer AOTI Inc (LON: AOTI) says 2025 revenues will be in line with consensus of $66.1m, up 14% on 2024, but it is stopping trading in Arizona because of problems with payments. Pre-tax profit could be $2.8m. Net debt of $6.5m is better than expected. Arizonia Medicaid contributed $9.2m to 2025 revenues. There is $15.6m owed by Arizona and there could be write downs in the 2025 accounts when they are published. The results will be announced on 30 March. A CMS local coverage determination is expected in the near-term and that will help to accelerate growth. Revenues could still rise this year without a contribution from Arizona, but profit and margins will decline in the short-term. The share price declined 12.2% to 32.5p.
Floorcoverings manufacturer Victoria (LON: VCP) says third quarter revenues fell 3%, which means that the rate of decline was slowing. However, January was weak and the current fourth quarter decline is running at 5%. Full year EBITDA is expected to be £95m, a downgrade from £110.7m. The outlook for 2026-27 is reduced, but production changes could help to improve margins. Property sales will help to cut debt. The share price fell 9.58% to 23.6p.
United Oil and Gas (LON: UOG) has completed stage 2 of surface geochemical exploration on the Walton-Morant licence area in Jamaica. Stage 3 piston coring has started. There are up to 42 cores planned. The share price slid 7.69% to 0.18p.