LITTLE CAP MOVERS: Baron Oil Rises 70% in One Week; The cosmetics company Warpaint London is experiencing a sales boom
Baron Oil increased its stake in SundaGas from 33.33 percent to 85 percent, increasing its indirect interest in the Chuditch discovery off the Timor Leste coast from 25 percent to 63.75 percent.
The news made the stock of the company, which appropriately has a ticker symbol for BOIL, the hottest items of the week, up 70 percent.
Everything is in place for SundaGas to take on the engineering work programs of the production participation agreement, particularly critical 3D seismic reprocessing, Baron Oil said.
Warpaint London stocks rose this week after posting strong sales in the first quarter
Industry colleague Pantheon Resources had a tougher week, losing around a third of its value after starting river testing at Talitha # A well on Alaska’s north slope after delays caused by snowstorms.
“Weather conditions have since improved which means operations have resumed and testing on the Kupurak horizon has begun. The Talitha # A well is currently flaring natural gas while it is cleaning up,” said a statement.
‘While this is an encouraging sign, the company warns that it is too early to make a definitive assessment of the ultimate commercialism of the Kupurak horizon. The results will be announced after the test work is completed, ”he added.
Investors chose Pelatro after signing $ 500,000 worth of contracts for 2021, bringing total new business for the year to $ 6.5 million in revenue.
The company, which develops and supplies customer loyalty software, said it was “confident” of meeting financial expectations for the current year.
Shares were up 43 percent from the week.
Elsewhere in the tech sector, MobilityOne slumped 15 percent after pulling out of its proposed acquisition of Tanjung Pinang Resources.
The payment provider and platform provider for e-commerce infrastructures announced that the acquisition has been amicably closed following MobilityOne’s recent acquisition of OneTransfer Remittance, another Malaysian company.
Another acquisition is the acquisition of Insight, a data science and machine learning solutions company, by the Catena Group.
The investment company already had a 9 percent stake in Insight, but is now going all-in, as it is called in poker circles. The takeover will be accompanied by a name change to Insig AI.
Catena is issuing 45.3 million shares worth 59p each to the owners of Insight and up to £ 1.5 million in cash.
Although the company proposed raising around £ 6.1 million by placing shares at 67p per inhabitant, shares rose 38 percent to 81.5p after trading in the shares on AIM resumed.
The System1 Group, the self-proclaimed agency for advertising effectiveness, cheered the market with a trade update at the end of the year.
With sales growth resuming and a strong net cash position, the board will seek to resume the share buyback program suspended in 2020 due to uncertainty about the potential impact of the pandemic on its business. A return to dividend payments is currently not planned, the company added.
Warpaint London stocks rose Tuesday after it was found that strong trading had continued through the second half of 2020 into the first quarter of 2021.
Revenue for the reporting period was higher than a year earlier when the coronavirus lockdowns occurred in the final days of the reporting period.
The cosmetics company announced that it has also increased online sales in the UK and US through Amazon and is now looking to expand into the EU “in the near future”.
The stock ended the week 16 percent higher at 125.5p.