UK Oil and Gas (LON: UKOG) shares continue to rebound following last week’s repayment of the convertible loan facility provided by RiverFort Global Opportunities and YA II PN. This means that there is no debt. The share price jumped a further 226.8% to 0.0915p. It is 542% higher than five days ago.
Mkango Resources (LON: MKA) has signed a writing agreement with the Malawi government for the Songwe Hill recycling project. There will be a royalty of 5% of gross revenues and a 30% corporate tax rate. The government will take a 10% non-diluting stake. The share price increased 47.8% to 6.8p.
Telematics services provider Quartix Technologies (LON: QTX) improved interim revenues by 10% to £16.1m and this has led to upgrades. Annualised recurring revenues are £30.9m. The interim dividend is 1.5p/share. Cavendish expects full year revenues to increase from £29.9m to £32.9m and pre-tax profit should improve from £5.1m to £5.5m. The share price is 13.1% higher at 181p.
Schurter AG has a 4.69% stake in supercapacitors developer Cap-XX (LON: CPX). The share price improved 11.5% to 0.3625p.
E-commerce company Huddled Group (LON: HUD) expects interim revenues will be at least £5.2m. There was £3.3m in cash at the end of June 2024 and cash is still flowing out of the business as marketing is scaled up. Discount Dragon, which sells surplus consumer goods, is generating £1m in revenues each month and it is trialling TV and radio investments. Warehouse capacity will be doubled next year. Operating divisions could be profitable on a monthly basis by the end of this year. The share price rose 7.02% to 3.05p.
FALLERS
Following recent management changes, Nostra Terra Oil and Gas (LON: NTOG) has raised £450,000 at 0.03p/share. The share price slid 59.4% to 0.0335p. Directors and management bought shares. This will be investing in a workover and development programme at the Pine Mills producing asset.
Telematics supplier Trakm8 (LON: TRAK) has been hampered by weak insurance market revenues and the recovery is slower than anticipated. Full year revenues fell from £20.2m to £16.1m, while recurring revenues edged down from £10.5m to £10.1m. The company moved into loss. Net debt was £4.9m at the end of March 2024. The share price dipped 11.8% to 7.5p.
The Nigel Williamson Family Trust has cut its stake in Clean Power Hydrogen (LON: CPH2) from 5.01% to 4.07%. The share price fell 7.32% to 9.5p.
Oil and gas producer Jadestone Energy (LON: JSE) increased production by 37% to 16,867 barrels of oil equivalent/day. Costs were kept flat. The annual production guidance has been increased from 20,000-22,000boe/day to 18,500-21,000boe/day because of delays in the start of production at Akatara. Net debt increased to $72.7m after the purchase of a 33.3% stake in CWLH2. The share price slipped 4.62% to 31p.