UK Oil & Gas shares sank on Friday after raising £400,431 through a heavily private placing to advance its South Dorset hydrogen storage project.
The placing, conducted with a select group of professional investors at 0.0102p per share, will provide essential funding for the project’s development and its participation in the government’s upcoming Hydrogen Storage Business Model (HSBM) Procurement Round.
The placing was completed at a 42% discount to the prior closing price. No directors participated in the round, which was reserved only for institutional investors. Private investors were shut out of the placing.
The funds will be directed towards several key initiatives to strengthen the project’s position. A significant portion will support the conceptual design of a joint venture focusing on green hydrogen generation and import facilities at Portland Port.
This venture aims to establish infrastructure for importing Middle Eastern green hydrogen carrier fluids and producing hydrogen locally, which would then be transmitted to the South Dorset storage site and distributed across the UK via SGN’s H2 Connect pipeline.
The company will also allocate funds towards the pre-Front End Engineering Design phase, including the conceptual design of surface facilities, pipeline routing, and borehole placements. This work is crucial for meeting the HSBM Procurement process eligibility criteria. Additional funding will cover operational expenses related to the procurement process and bid submission, as well as general administrative costs.
The development would establish South Dorset as one of only three hydrogen “cohorts” in the UK, combining production, substantial storage capacity, and trunk pipeline transmission capabilities. This integrated approach is expected to strengthen the project’s case for government revenue support through the HSBM scheme.
The FTSE 100 dropped again on Thursday as companies accounting for a significant proportion of the index traded ex-dividend and wiped a sizeable number of points from the index.
BAE Systems, AstraZeneca, and BP, among others, all traded ex-dividend and gave the impression of a bad day for London’s leading index. In reality, the index would only be marginally down without the impact of stocks trading ex-dividend.
“The FTSE 100 started Thursday modestly in the red as some big names on the index traded without the rights to their upcoming dividends,” says AJ Bell investment director Russ Mould.
Although ex-dividends weighed heavily on the index, geopolitical and macro considerations did give a reason for investors to be cautious.
The Federal Reserve signalled it wouldn’t move to cut rates again until they had more evidence inflation was falling. The problem here is the new president’s tariffs campaign threatens a period of higher prices.
“Uncertainty abounds about the knock-on effects of Trump’s tariffs for multinationals listed in London. Although the more cautious stance from the Federal Reserve didn’t blow Wall Street off course, with the S&P 500 breaking out to a record level, there is set to be more wariness creeping in today,” said Susannah Streeter, head of money and markets, Hargreaves Lansdown.
Despite the negative tone to trade, there were a number of positive corporate stories from FTSE 100 firms for investors to dive into on Thursday.
Lloyds shares surged to the highest level since before the pandemic after announcing underlying results – which are to be commended. When the impact of the £700m motor charge was stripped out of the earnings, Lloyds beat expectations across the board. The mortgage business is doing very well, and the company is managing costs.
Investors will be pleased with the level of cash Lloyds is returning to them, and an additional £1.7bn buyback will have gone down very well.
“The more positive response to Lloyds’ full-year numbers compared with its immediate peer group is less a reflection of the results themselves and more related to the fact it had lagged behind its rivals heading into this earnings season,” Russ Mould explained.
“A significant increase in provisions associated with motor finance mis-selling is unlikely to have caught investors on the hop. However, the fact the government’s attempt to intervene on lenders’ behalf was rejected by the Supreme Court is obviously unhelpful and the increased provision meant profit came in below forecasts.
“This issue remains a lingering uncertainty for the business ahead of the latest hearing in early April but the decision to sanction a sizeable share buyback and deliver a healthy increase in the dividend suggests management are not overly concerned.”
Centrica was jostling with Lloyds for the top spot on the FTSE 100 leaderboard – both were up around 7% at the time of writing – following the release of results that exceeded expectations.
There was a broad decline in Centrica’s earnings due to lower energy prices but this had largely been baked into the Centrica share price cake, and the positive earnings surprise sent shares back to levels not seen since the beginning of 2024.
Compliance and resource management software provider AdvancedAdvT Ltd (LON: ADVT) is winning new business and generating renewals on improved terms. Demand for cloud and digital services is growing. Singer expects EBITDA of £9.6m, having previously forecast £8.4m. The 2026 EBITDA forecast has been raised from £8.8m to £10.1m. AdvancedAdvT is still at an early stage of its buy and build strategy. Net cash is estimated to be £88m. The share price increased 10.3% to 160p, which values the company at £213m.
Greatland Gold (LON: GGP) released maiden drilling results for the West Dome Underground target at the Telfer prospect. This deposit is 800 metres below the West Dome open pit. There were 16 out of 19 holes that intercepted significant mineralisation. The weighted average intercept is calculated as 23 metres at 2.95g/t gold and 1.07% copper. This could extend the mine life. There will be a second phase of drilling. The share price improved 8.54% to 8.9p. Last autumn’s fundraising was at 4.8p.
Petards Group (LON: PEG) subsidiary QRO Solutions received an order worth more than £400,000 for in-vehicle ANPR systems from a UK police force. This will be delivered in 2025. The share price rose 6.67% to 8p.
Jarvis Securities (LON: JIM) has declared a first quarter dividend of 1.5p/share, down from 1.75p/share in the first quarter of 2024, but above the 1p/share paid for the fourth quarter of 2024. The shares go ex-dividend on 27 February. Subsidiary Jarvis Investment Management should complete most of the remediation work required by the authorities by the end of the third quarter of 2025. The share price recovered 6.02% to 44p.
FALLERS
Film and media localisation services provider Zoo Digital (LON: ZOO) expects full year revenues to be at least $50.5m and a return to positive EBITDA of at least $1m. These are below expectations, though. Trading recovered following the writers’ strike in Hollywood, but there have been delays and cancellations. Zoo Digital is a preferred fulfilment vendor for Amazon Prime Video and there is an increase in potential work, predominantly for existing content. Original content production remains subdued and may not recover until nearer the end of the year. This year dubbing revenues will be lower than last year. Fixed costs have been cut by one-fifth over the past year and margins are improving. The share price dived 35.5% to 17.75p, which is the lowest it has been for more than seven years.
Karelian Diamond Resources (LON: KDR) raised £323,000 at 0.75p/share. This will fund metals exploration in Northern Ireland and diamond exploration in Finland, where there are plans to advance the proposed development of the Lahtojoki deposit. The share price slumped 39.6% to 0.725p.
TheraCryf (LON: TCF) shares continue to fall following yesterday’s announcement that it is raising £4.25m at 0.25p/share. The price is 8.33% lower at 0.275p. The Tuesday closing share price was 1p. The cash will finance the pre-clinical development of Orexin-1, which came with the acquisition of Chronos Therapeutics. Orexin-1 is a potential drug for a range of neuropsychiatric disorders, including addiction and anxiety. The preclinical data generated will help to attract potential partners. Former Avacta boss Dr Alastair Smith has been appointed as TheraCryf chair. He will take his fee for at least 12 months in the form of shares.
Tertiary Minerals (LON: TYM) says potential earn-in partner KoBold Metals has drilled a hole past 2,600 metres at the Konkola West copper project in Zambia. It is expected to reach 3,000 metres. This is deeper than originally planned. Drilling of the second hole in the earn-in agreement is expected shortly. The time for drilling the holes has been extended to 18 months. The share price dipped 4.76% to 0.05p.
Ex-dividends
Alumasc (LON: ALU) is paying an interim dividend of 3.5p/share and the share price rose 2.5p to 350p.
FRP Advisory (LON: FRP) is paying a dividend of 0.95p/share and the share price dipped 0.25p to 142.25p.
Gateley (LON: GTLY) is paying an interim dividend of 3.3p/share and the share price slipped 0.5p to 137p.
Hercules Site Services (LON: HERC) is paying a final dividend of 1.12p/share and the share price declined 1p to 54p.
Samuel Heath & Sons (LON: HSM) is paying an interim dividend of 4.5p/share and the share price slumped 20p to 300p.
Impax Asset Management (LON: IPX) is paying a final dividend of 22.9p/share and the share price fell 19.5p to 189p.
Van Elle (LON: VANL) is paying an interim dividend of 0.4p/share and the share price is unchanged at 38p.
The space industry is undergoing a transformation like never before. Growing at an annual rate of 9%, the space economy is projected to nearly triple in value to £1.44 trillion by 2035; investors are recognising the sector as a high-growth frontier offering unparalleled opportunities. Once dominated by government initiatives, the industry is now driven by private sector innovation, making it a prime landscape for investment.
But space investment is not just about rockets and satellites. Space technology is actively transforming industries such as healthcare, agriculture, cybersecurity, and climate monitoring. The capabilities developed for space applications are now driving precision medicine, improving environmental sustainability through satellite-driven analytics, enhancing global cybersecurity networks, and enabling real-time disaster response. This convergence of space tech with traditional industries means that investors are not just backing space ventures—they’re supporting innovations that impact daily life on Earth.
For investors looking to capitalise on this momentum, Fusion Connect with Capital provides direct access to some of the most promising early-stage ventures in the space industry. This article explores some of the ventures of key entrepreneurs who will be pitching at the upcoming Fusion Connect with Capital Demo Day.
Space Technology Driving Sustainability
The sustainability sector is increasingly benefiting from advances in space technology, with satellite data and AI-powered insights enabling more efficient resource management and environmental conservation. Dilify HQ is addressing the challenges of deforestation regulation by helping businesses comply with the European Union Deforestation Regulation (EUDR). By using AI-enhanced satellite imagery and analytics, they can identify rubber and wood plantations, ensuring that exporters into the UK remain compliant when trading commodities like furniture and car tyres. Their work plays a crucial role in supporting sustainable supply chains without contributing to deforestation.
Agtelligence takes a different approach by integrating space-based data with AI models to provide actionable insights for sustainable farming practices and climate resilience. “There needs to be a well-defined system to support sustainable farming and recognise the efforts of steward farmers. Real sustainability means enabling today’s farmers to make a living while ensuring they leave behind healthier, more fertile land for future generations.” –Nima Eskandari, CEO of Agtelligence.
UAP Engineering is advancing sustainability through an innovative approach to capturing greenhouse gases (GHGs) and neon, providing a potential resource for industries—including the space sector—that rely heavily on these gases. Their hardware-focused solutions align with growing investor interest in carbon capture technologies, a critical area for addressing global climate challenges. By transforming emissions into valuable resources, UAP is opening up new opportunities at the intersection of climate tech and space innovation.
Moving on to marine sustainability, Sensfish deploys space-enabled water quality monitoring solutions to support aquaculture and fisheries. By leveraging satellite technology, they provide real-time insights that help ensure sustainable and efficient seafood production, addressing food security challenges while maintaining environmental balance.
With these innovations, space is playing a crucial role in making industries more efficient, sustainable, and resilient—presenting significant investment opportunities in both the environmental and space sectors.
AI & Advanced Manufacturing Revolution
As space missions become more ambitious, the demand for precision, efficiency, and sustainability is reshaping the industry. AI and advanced manufacturing are at the heart of this transformation, unlocking new capabilities in satellite operations, production processes, and in-space infrastructure. For investors, these innovations present a unique opportunity to back high-growth ventures driving the next era of space exploration.
One company pushing the boundaries of AI-driven analytics is Stars Edge. Their technology enhances satellite mission efficiency, improves fault detection, and enables real-time space traffic management. With growing congestion in Earth’s orbit, solutions that optimise satellite performance and minimise operational risks are becoming indispensable—creating a market primed for expansion.
Revolutionising industrial 3D printing, DONAA is leveraging AI-powered defect detection to enhance production reliability and reduce material waste. Their SaaS platform ensures consistency and seamless integration, making it a game-changer for aerospace, medical, and high-precision manufacturing. Backed by the Regional Talent Engines programme, the company is setting new benchmarks in sustainable industrial production.
Meanwhile, the future of deep-space exploration depends on reducing reliance on Earth-based supply chains. Pan Galactic is pioneering in-space manufacturing, developing autonomous production systems that will lower mission costs and accelerate the commercialisation of off-world industries. Their work is a critical step toward making long-term space habitation and exploration commercially viable.
These breakthroughs are not just improving the efficiency of space operations—they are transforming entire industries. From aerospace and defence to high-value manufacturing, AI and advanced production technologies are creating lucrative investment opportunities. As the space economy accelerates, those who invest in these frontier innovations will be well-positioned to shape the next wave of industrial and commercial expansion beyond Earth.
Why Invest in the UK Space Sector?
The UK has firmly established itself as a global leader in space technology, attracting 17% of global private capital investment in the sector since 2015—second only to the United States. With the global space economy projected to nearly triple in value to £1.44 trillion by 2035, the UK’s growing influence presents a compelling opportunity for investors seeking high-growth ventures.
Government support plays a crucial role in driving this momentum. Initiatives like the £1.4 billion National Space Fund and the UK Space Agency’s strategic investment in satellite technology, AI-driven space analytics, and launch capabilities are positioning the UK at the forefront of commercial space innovation. The country is home to a thriving startup ecosystem, with major hubs like the Harwell Space Cluster, which hosts over 100 space-focused companies, and Scotland’s fast-growing space industry, which is expanding its role in satellite manufacturing and commercial space activities.
Beyond traditional satellite communications, the UK is investing in space-based cybersecurity, in-orbit manufacturing, and Earth observation technologies, all of which have applications in industries ranging from agriculture and logistics to climate monitoring and autonomous navigation. Companies like OneWeb, Space Forge, and Surrey Satellite Technology Ltd (SSTL) are leading these developments, backed by both public and private investment.
For investors, this means access to high-growth companies, all within a market experiencing accelerated investor interest and confidence.
Discover the Next Big Opportunity at Fusion Virtual Demo Day
While this article highlights a selection of ventures transforming sustainability, AI, and advanced manufacturing, several other companies will also be pitching at Demo Day, showcasing innovations in additional high-growth sectors. This further underscores the vast potential of space technology beyond traditional applications.
The Fusion Connect with Capital Demo Day offers investors exclusive access to the next generation of high-growth space ventures. Over the past six months, 11 cutting-edge UK startups have refined their business models and investment propositions under the guidance of experienced fund managers, angel investors, and industry experts. Now, they are ready to present their innovations and secure the funding needed to scale.
Delivered by Entrepreneurial Spark, a leading accelerator with a proven track record of supporting high-growth ventures across multiple industries, Fusion Connect with Capital is designed to help space entrepreneurs progress towards investment completion. Taking place on 4th March 2025 (10am – 12:30pm GMT), this curated showcase provides a unique opportunity to explore commercially viable ventures backed by expert coaching.
What to Expect:
Exclusive access to pre-vetted, high-potential ventures
Live pitches from founders disrupting the space industry
Insights from early-stage fund managers, angel investors, and sector experts
Opportunities to connect with others investing in advanced space technologies
With the UK space economy expanding rapidly, Fusion Connect with Capital provides a direct gateway to ventures strategically positioned for scale.
Register to attend Fusion Virtual Demo Day here. More information about the programme and participating ventures is available at Fusion Connect with Capital’s website.
The UK Investor Magazine was thrilled to welcome Michael Field, Chief Equity Market Strategist EMEA at Morningstar, back to the podcast to explore the German election and the potential impact on equities.
We start by looking at the major influences on the German elections, including immigration and cost of living, and the consensus regarding possible results. Michael outlines investor positioning going into the election and what the main policies investors should be aware of.
We explore the sectors that could benefit most, and Michael highlights individual stocks his team have picked out as possible beneficiaries of the election.
Elections can dramatically impact equities, and we look at possible market reactions and how the base case result impacts German elections in the immediate and longer-term reaction.
To finish off, we explore the alternative scenario in the case Merz’s CDU is not the biggest party and what the fallout could be.
Lloyds shares shrugged off a significant motor finance charge to produce the best initial reaction so far to this round of FY2024 results from FTSE 100 banks.
Shares rose 2% after releasing the full-year and fourth-quarter results to hit the highest intraday levels since early 2020.
Motor finance was always going to be the big talking point around Lloyd’s result, and the £700m wouldn’t have come as a surprise to investors. It was higher than some had expected, but it avoided the worst-case scenario.
However, as much of a disappointment as the motor financing charge is, Lloyds is actually doing quite well.
Stripping out the impact of the motoring charges, Lloyds underlying fourth quarter performance was ahead of expectations. Net income for the quarter came in at £4.37bn, marginally higher than the quarter before, and underlying net interest income was also higher.
Lloyds’ strong financial performance was underpinned by robust demand for mortgages, despite ongoing concerns about affordability. Lloyds UK mortgage book grew by £6.1 billion in 2024 and was central to increasing overall loans to £459.1bn.
“Lloyds has capped off a strong year with a clouded fourth-quarter result, setting aside a hefty £700m provision for potential charges related to the ongoing motor finance saga. While you could argue the provision is overly cautious, Lloyds holds the largest exposure of any major UK bank, and the outcome remains uncertain. Despite this, the stock is up over 40% in the past year, reflecting a solid banking outlook and robust performance,” said Matt Britzman, senior equity analyst, Hargreaves Lansdown.
“Beneath the surface, Lloyds is delivering strong results. Excluding the motor finance charge, fourth-quarter figures exceeded expectations, thanks to borrowers performing better than anticipated. Remarkably, Lloyds has managed to improve its loan quality over the course of the year, defying fears that borrowers would buckle under the pressure of persistent inflation.”
This strength was a key driving force in the Lloyds share price popping 2% higher on Thursday.
Lloyds shares were at a fascinating juncture going into results, with the stocks trading near the top of a range that has held over the past year. Today’s results have pushed Lloyds to the highest levels since 2020, but only marginally.
Whether Lloyds’s share price can continue to be higher will affect the health of the UK economy during 2025, as the bank seems to be doing everything right from an operational perspective.
Investors will also be delighted at the sheer level of distributions, which were bolstered by a fresh £1.7bn share buyback.
“There’s more than meets the eye in this year-end story and having returned around 10% of its current market cap to investors over 2024, there’s been plenty to cheer,” Britzman concluded.
Yesterday the shares of SRT Marine Systems (LON:SRT), the marine domain awareness specialist, fell by 15.5% to 46.50p, following comments about the company’s founder Simon Tucker published in the Philippines press.
Company Response to Philippine press reports
“SRT notes the recent share price movement and reporting in the Philippine press with regard to the IMEMS fisheries project.
As noted via an announcement on 24 April 2024, SRT clarifies that the IMEMS contract was won following an open and competitive international tender, which has been successfully implemented and is o...
Genflow Biosciences Plc, the London-listed biotechnology company, has achieved a significant milestone in its pursuit of longevity research patents.
Genflow Biosciences offers investors exposure to the existing world of longevity and anti-ageing and is one of very few listed longevity pureplays globally.
The firm announced that its licensed patent application for SIRT6 variants has successfully cleared the European Patent Office’s (EPO) supplementary search phase without additional queries.
SIRT6 is a gene recognised for its fundamental role in DNA repair, metabolism, and longevity. The patent’s progression to the national phase represents a crucial advancement in securing European-wide protection for this innovative therapeutic approach.
The patent application, which focuses on preventing and treating age-related diseases through SIRT6 variants, was initially submitted in May 2022 through a collaboration between prestigious American institutions: the University of Rochester, Columbia University, and the Albert Einstein College of Medicine.
The application, filed under number EP 22 808 414.1, has met all requirements set forth by the European Patent Convention. The company now preparing to advance the application ahead of the July 2025 deadline.
“This positive outcome represents a significant step forward in securing broad intellectual property protection for our innovative work on SIRT6 variants,” said Dr. Eric Leire, CEO of Genflow.
“This milestone strengthens our position in SIRT6-based therapeutics and accelerates our mission to develop effective treatments for age-related diseases.”
The FTSE 100 slipped on Wednesday as UK CPI inflation soared to 3%, and soft results from Glencore weighed on the index.
A weaker pound helped contain losses for London’s flagship index. Still, the inevitable losses in house builders after the stronger-than-expected inflation reading meant the FTSE 100 struggled to turn positive after starting the session in the red.
UK CPI for January hit 3%, hotter than the 2.8% expected by economists, and poured cold water on hopes of a rate cut at the next Bank of England meeting.
“The FTSE 100 dipped at the open on Wednesday, dragged lower by weakness among housebuilders and as commodities giant Glencore fell on poorly received results,” said AJ Bell head of investment analysis Laith Khalaf.
“Higher-than-expected UK inflation was seen as reducing the chances of interest rate cuts from the Bank of England, which is bad news for a housebuilding sector reliant for demand on mortgage availability and affordability.”
Barratt Redrow was one of the most heavily hit housebuilders, with shares declining more than 2%. Taylor Wimpey fell by a similar amount.
Glencore was the FTSE 100’s biggest loser, falling 7%, after the diversified miner said EBITDA declined 16% due to lower coal prices. Copper was a bright spot for Glencore, with volumes growing 4% over the year.
Suggestions Glencore was considering ditching its London listing wouldn’t have helped sentiment around the stock.
“Despite returning $2.2 billion to shareholders, Glencore is propping up the FTSE this morning after posting a second consecutive year of falling profit. It should be noted this was against a very high bar when we saw soaring metals prices which have since cooled, and as such so have miners such as Glencore’s bumper profits,” said Adam Vettese, market analyst at eToro.
“Trump’s potential tariffs on cars and semiconductors also threaten to weigh on demand for metals such as copper which Glencore and many of its sector peers will be watching closely.”
Despite concerns about the impact of Trump’s tariffs, Antofagasta was again the top riser following a well-received set of results yesterday. Anto gained another 3% and is now 19% higher on the year.
HSBC shares were flat following the release of Q4 and full-year 2024 results. The stock has embarked on a sharp rally through 2024, and investors will be pleased the stock held its own today and didn’t follow peers on the recent trend after pulling back after announcing results.
Rail software and technology company Tracsis (LON: TRCS) has won the contract to provide the ‘tap converter’ ticketing technology that will enable pay-as-you-go travel across the UK rail network. Tracsis previously supplied a similar service to some train operators. This will generate a small, fixed payment to Tracsis with every journey and could generate highly significant revenues. If 10% of journeys are via PAYG then this could generate £3m of annual revenues. The technology will not be deployed until 2026 and will take time to roll out, so it does not affect the 2024-25 forecasts and is not included in the 2025-26 pre-tax profit forecast of £15.3m. The Department of Transport has published a document outlining plans for Great British Rail and this should lead to the ending of uncertainty of the future of rail. The share price jumped 15.3% to 415p.
LPA Group (LON: LPA) finance director Stuart Stanyard doubled his shareholding in the electromechanical and electronic components supplier by acquiring 20,000 shares at 56.1p/share. The share price improved 5.5% to 57.5p.
Keystone Law (LON: KEYS) says trading is ahead of expectations and there has been an acceleration in net recruitment of lawyers in the second half of the year to January 2025. Average revenues per principal rose 4% to £220,000. Panmure Liberum increased its pre-tax profit forecast from £11.9m to £12.5m. Net cash has been upgraded to £9.5m and the total dividend forecast has been raised from 18.6p/share to 19.6p/share. Profit growth will be held back by higher National Insurance costs in 2025-26. The share price recovered 4.85% to 540p.
Ondine Biomedical Inc (LON: OBI) believes that its light-activated antimicrobial treatment for nasal decolonisation could become the first FDA-approved treatment for the prevention of surgical site infections. These infections represent 6% of costs of public sector health budgets in the EU. In the US it could increase admission costs by $20,000/patient. A phase 3 trial is ongoing in the US. The share price 4.35% to 12p.
FALLERS
Zytronic (LON: ZYT) has completed the sale process for it touch screen displays business and there were no attractive offers. The business will be wound down. There is cash of £3.3m, but there will be costs for closing the business. The share price slipped 19.1% to 42.5p, which values the Zytronic at £4.3m.
Airline and tour operator Jet2 (LON: JET2) says that the winter 2024-25 load fact dipped 2.2 percentage points in the year to March 2025, although the majority of that declined is down to the later Easter this year. There was also a 14% increase in capacity. Canaccord Genuity still expects pre-tax profit to improve from £520m to more than £563m even though margins are lower. There could be an additional gain on the sale of aircraft. Bookings are being made later. Although bookings for the summer are 7% ahead that is similar to the rise in capacity. Higher labour-related costs and other inflationary pressures, combined with investment in new bases at Luton and Bournemouth will hold back profit growth this year. The 2025-26 pre-tax profit forecast has been trimmed from £574.4m to £573.2m. The share price is 10.9% lower at 1395p.
Infrastructure-as-a-Service provider Beeks Financial Cloud (LON: BKS) says interim revenues will be 22% ahead at £15.8m and pre-tax profit is 31% higher at £1.8m. Net cash was £6.6m at the end of 2024 and a £1.2m payment was received in £1.2m. A new contract has been awarded by the Mexican Stock Exchange and Canaccord Genuity believes that the deal could be bigger than the one with the Johannesburg Stock Exchange. Canaccord Genuity is maintaining its 2024-25 pre-tax profit forecast of £6.1m. The share price fell 9.6% to 292p.
Global Petroleum (LON: GBP) has applied for a new exploration licence north of the current exploration licence 08/3497 in Western Australia. The new area has similar gold exploration targets. The share price declined 8.47% to 0.135p.
