Wellhead equipment supplier Plexus Holdings (LON: POS) reveals that a £5m rental contract for POS-GROP HG wellhead equipment and sealing technology announced in March has been increased in value to £8m. These revenues will be recognised in the year to June 2024, which should enable Plexus to move into profit. The 2021-22 revenues were £2.31m and they are expected to decline in 2022-23. The share price is 62.3% higher at 6.25p.
Video sharing platform operator SEEEN (LON: SEEN) chief executive Adrian Hargrave bought 354,081 shares at an average share price of 2.26p. He intends to sell 150,000 shares to employees at 2p each. This pushed up the share price 50% to 4.5p.
Jadestone Energy (LON: JSE) shares jumped 30.9% to 28.8p, having been trading slightly higher than their low for the year. After minor repairs to the water tank, the Montara floating storage platform should recommence production during September.
Orcadian Energy (LON: ORCA) says repayment of a S1m loan from Shell has been moved from 23 August to 13 September. There could be further extensions of this loan. Orcadian Energy has cash of £95,000. The share price recovered 30.8% to 4.25p.
FALLERS
Fulcrum Utility Services (LON: FCRM) intends to leave AIM and the share price dived by 70.9% to 0.24p. This announcement followed the release of full year figures showing an increased loss. The utility infrastructure business reported a £25.7m loss on a 18% decrease in revenues to £50.6m. Even excluding write-downs and restructuring charges there was a loss.
Thor Energy (LON: THR) shares fell 31.2% to 0.17p ahead of a ten-for-one consolidation on 31 August.
Proteome Sciences (LON: PRM) slumped 25.5% to 5.4p because interim revenues were flat, and costs increased. This meant that the drug development services company fell into loss. New initiatives should help to grow revenues in the medium-term.
Bluejay Mining (LON: JAY) is raising £600,000 at 1p/ share. The share price fell 25.1% to 0.927p. The cash will be used to develop the Hammaslahti copper zinc silver gold project in eastern Finland. Final assay results from the second phase of drilling are due in early September. Management is trying to secure further funding for projects from strategic investors.