AIM movers: Mosman Oil & Gas set for Cinnabar production and Fulcrum Utility difficulties

Mosman Oil & Gas (LON: MSMN) says the Cinnabar well in Texas is moving towards production. Mosman has a 75% working interest. This will be a significant boost to cash flow. A permit area in Australia has potential for helium and hydrogen. The share price jumped 30.8% to 0.085p.

Union Jack Oil (LON: UJO) is paying a special dividend of 0.8p a share. High oil prices have made the company highly cash generative. This is the first ever dividend paid by the company. Union Jack is also planning share buy backs. The share price is 15.5% ahead at 29p.

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Energy and water efficiency services provider Eneraqua Technologies (LON: ETP) has won a three-year contract to supply ground source heat pump systems to a UK social housing organisation. The total value is up to £35m and it means that 85% of the 2023-24 forecast revenues are covered by the order book. The shares are 16.4% higher at 305p.

Billing and charging software provider Cerillion (LON: CER) says higher utilisation rates and beneficial exchange rate movements mean that pre-tax profit for the year to September 2022 will be much higher than the forecast £10.1m. Net cash is anticipated to be £20m. The pipeline of opportunities remains strong. The share price rose 8.17% to 1125p. That is a new high.

Consumer products supplier Supreme (LON: SUP) says that trading is in line with expectations following the disappointments of earlier in the year. The lighting division appears to be recovering, while vaping is still growing strongly. Pre-tax profit is still expected to decline in 2022-23, but, at 83.5p, up 7.74% on the day, the shares are trading on nine times prospective earnings.

It is not proving easy to turn round the fortunes of utility connections company Fulcrum Utility Services (LON: FCRM) and a cyber security breach that delayed invoicing has not helped. Add cost increases and Fulcrum Utility Services will make a loss in the six months to September 2022. More funding may be required for the business. The shares dived 39% to 3.6p, which is a new low.

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Customer destocking has hit the latest figures for set top box technology company Aferian (LON: AFRN) and forecast 2021-22 pre-tax profit has been cut from $11.3m to $7.7m. Next year’s pre-tax profit forecast has been cut by a similar amount to $9.2m. Higher stocks will reduce the cash pile. Software revenues are increasing, though. The shares slumped 37.3% to 81.5p.

Baron Oil (LON: BOIL) says analysis of 3D seismic data of the Chuditch PSC, offshore Timor-Leste, has raised recoverable gas resource estimates to 1,350bcf. There are talks about a potential farm out. Even so, the share price has fallen by one-third to 0.16p.

Oil and gas company Petrel Resources (LON: PET) has raised £250,000 at 1.2p a share and the shares come with a warrant exercisable at 1.8p. The cash will fund progress with potential projects in Iraq and Ghana. The share price declined by 12.9% to 1.35p.

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