Traders Cafe with Zak Mir: Brandshield, Cambridge, Caerus, Caspian, Cobra, Europa, Iamfire, Longboat, Oracle, Sabien, Tlou, United Oil and Gas
Stakebuilding / TR1’s can mark the start of a meaningful rally in the stock, apart from the credibility represented by a major investor getting into a small cap stock. This may be the case as far as online threat hunter Brandshield Systems (BRSD) some 9 months after it reversing into Two Shields at the end of last year. The news today is that William Currie Investments is in at 3.39%..
There was also a new TR1 in Sabien Technology (SNT), in the form of Richard Edwards going up from 4% to 5.1% on the shareholder register. Last week the company focused on building a portfolio of solutions in the heating, cooling, and transportation sectors, announced an agreement with City Oil Field Incorporated of South Korea, which some in the market viewed a eventually being worth much more than the present market cap to SNT.
There was a Sabien Technology connect at IamFire (FIRE) as it announced that it has raised £369,000 before expenses through a placing of 12,300,000 new ordinary shares of 0.1 p each at 3 pence per share, conditional upon admission of the Placing Shares to trading on AQSE Growth Market. Added sizzle to this news was provided by the arrival of stock market heavyweight John Taylor, of Asimilar (ASLR) and Brandshield Systems (BRSD) fame, who used to be a director of Sabien. John Taylor will join the Board as Executive Director & Sandy Barblett – another City A lister, will join the Board as Non-Executive Chairman.
international natural resources project developer, Oracle Power (ORCP) announces its unaudited interim results for the six months ended 30 June 2021, as the company starts to balance out its flagship Thar Project in Pakistan with new Australian gold assets. The company said the acquisition of two gold projects in Western Australia in November 2020 has helped to mitigate single jurisdiction and single project risk and has also added significant near term value to the company.
Power solutions group Tlou Energy (TLOU) unveiled its final results. The company said it has made progress in many areas with operations and gas flow continuing at Lesedi, tenders awarded for the construction of assets to connect to the regional power grid and very significant progress made to finalise a 10MW Power Purchase Agreement as well as funding arrangements for the Lesedi project.
Growing, but still perhaps rather under-appreciated oil and gas company, United Oil and Gas (UOG), announce an update on the drilling of the ASX-1X exploration well in the Abu Sennan licence, onshore Egypt. The company ASX-1X exploration well encountered at least 10m net pay in a number of oil-bearing reservoirs. Completion of the well and well-testing is now planned, and if successful, will be followed by an application to the Egyptian General Petroleum Corporation for a development lease.
Digital solutions to assess brain health group Cambridge Cognition (COG), announced its unaudited interim results for the six months ended 30 June 2021. The company said it had a strong and profitable first half, delivering revenues of £4.5 million, a 50% year-on-year growth. Order intake was above the Board's expectations at £8.6 million and this included two substantial orders outside the core area of focus that totalled £3.6 million. Cambridge also revealed it is now delivering more clinical trial contracts than at any time in its history, with an order book at 30 June 2021 of £15.2 million, up 36% from 31 December 2020 and more than double the value at 30 June 2020.
Cyprus focused mining company Caerus Mineral Resources (CMRS) unveiled a proposed Placing of up to 7.2M shares at a price of 20p per ordinary share to raise ca. £1.44M. A parallel Subscription of 300K shares to raise ca. £60K has been completed with a single subscriber under the same Terms and Conditions as the Placing. The company said that acquisition of PR Ploutonic Resources and GC Gold Mines (Cyprus) Limited has created projects with considerable potential upside. This is reinforced by its impending Joint Venture with Bezant Resources to develop its Troulli property.
Emerging full-cycle North Sea E&P company, Longboat Energy (LBE) announced the start of drilling operations on the Egyptian Vulture exploration well, which is targeting gross mean prospective resources of 103 mmboe with further potential upside to bring the total to 208 mmboe on a gross basis. The chance of success associated with this prospect is 25% with the key risk being related to reservoir quality and thickness. The well is expected to take up to seven weeks to drill with an estimated pre-carry net cost to Longboat of c.$5 million (c.$1.1 million post tax).
In a strangely set out RNS presenting its interim results, Caspian Sunrise (CASP) said that its revenue has doubled, gross profit has tripled, while cash at the period end stood at $0.3 million. There was a proposed $6.2 million debt conversion @ 3.2p per share, subject to regulatory and independent shareholder approval, and a commitment to clear the path to pay first dividends. Gold exploration company Cobra (COBR) focused on the Wudinna Gold Project in South Australia, announced its results for the six months ended 30 June 2021. The company said the first half of 2021 has been a period of detailed data collection and analysis and it is now very well positioned to move into the next phase of exploration. Rupert Verco, a South Australian mining specialist was appointed as Chief Executive Officer at the company in July.
Europa Oil & Gas (EOG) provided an update on the Wressle oil field development in North Lincolnshire. Europa holds a 30% working interest in the Licences, alongside Egdon Resources U.K. Limited (30% and operator), and Union Jack Oil (40%). Europa said the Wressle-1 well has exceeded production expectations, achieving instantaneous flow rates in excess of 884 barrels of oil per day and in addition, 480,000 cubic feet of gas (c80 barrels of oil equivalent) per day from the Ashover Grit on a significantly restricted choke setting (30.5/64ths) and with high wellhead flowing pressure.
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