Latest Updates On Two AIM Listed Stocks – JOG and QFI

Jersey Oil and Gas Plc

Jersey Oil and Gas Plc (JOG) is a company based in the United Kingdom and having operations in Jersey, which are mainly into upstream Exploration and Production projects with a focus on building production in the North Sea. The company has a combined experience of more than 100 years in the management operating in the UK North Sea. The company has various assets which include Buchan and J2, in which the company has a 100 per cent interest, drilled by Transworld Petroleum and Texaco in 1974. The Buchan discovery was drilled as a deviated well to test the westerly finishing of a triple sided dip and fault shut system integrated at Late Jurassic, Sgiath Formation phase and geolocated on a systematic rooftop routing out to the upside of the Buchan Horst and the Buchan field. Verbier – P2170 Blocks 20/5B & 21/1D, in which the company has an 18 per cent interest, has a hydrocarbon accumulation of good quality sands. Initial tests indicated that recoverable resources were estimated to be between 25 million to 130 million barrels of oil equivalent. Glenn Field, in which the company has 100 per cent working interest, was discovered in 1976, in which the company anticipates containing 14 million barrels of oil equivalent (MMBOE) of recoverable oil volumes. Another project is Zermatt, in which the company has a 100 per cent working interest and an acquisition of a 15 per cent interest in Athena.

JOG Financial Performance and Latest News

On 7th October 2019, the company announced the award of contracts to Rockflow Resources Limited and Petrofac Facilities Management Limited for the provision of subsurface test and evaluation report and facilities and well supported for the concept selection phase respectively of the GBA (Greater Buchan Area) development project. The company announced that both Rockflow and Petrofac have been instrumental in supporting the company’s successful application in the UKCS Supplementary Offshore Licensing Round that resulted in the award of the GBA development authority.

On 26th September 2019, the company announced interim results for the six months ended 30 June 2019. The company highlighted a strong cash position at £15.5 million as on 30 June 2019. The company hasn’t reported Revenue so far but reported a cost of sales or Gross loss of £451,997 in H1 2019. The company also reported other income in terms of a settlement agreement with Total E&P UK Limited of £750,000 in H1 2019. This was in reference to the commutation of its 2013 farm-in to licence P2032 This was a massive increase as compared to the previous year’s other income of carried cost reimbursement at £12,038 in H1 2018. The company also reported a finance income of £57,451 in H1 2019. The company made significant progress in terms of operations, as reported in the results as they drilled the 20/05b-14 Verbier appraisal well, that, albeit unsuccessful in the encounter of Upper Jurassic sands, gave the information to P2170 JV partners about significantly important well data. The company reported the Loss for the period at £412,511 in H1 2019, which is a 51.89 per cent year on year reduction from the previous year’s Loss at £857,455 in the first half of 2018. This resulted in the reduction of both Basic and Diluted loss per share (LPS) from GBX 3.93 per share in H1 2018 to GBX 1.89 per share in H1 2019. The company also reported a net cash outflow of £4.25 million during the first half of 2019.

JOG Share Price Performance

On 7th October 2019, at 11:55 AM GMT, while writing, JOG stock traded at GBX 218.1 per share; a decrease of 0.86 per cent or GBX 1.90 per share in comparison with the previous day’s closing price which was at GBX 220.00 per share. The market capitalisation (M-Cap) of the group is at GBP 48.02 million.

The volume of the stocks that have been traded by the time of writing was 12,070. The average volume of stocks being traded every day during the previous one year has been 63,170. The share has displayed a surge of 16.63 per cent compared to the previous year’s trading price at GBX 184.5. The beta of the stock has been reported at 2.6332, which means that the stock is much more volatile in its movement as compared to the comparative benchmark index.

 

Quadrise Fuels International Plc

Quadrise Fuels International Plc (QFI) is a London, United Kingdom based company which is mainly involved in the production, selling and marketing of emulsion fuel which is used for the purposes of power generation, industrial and marine diesel engines applications for steam generation. The company leverages its disruptive technological capabilities like the Multiphase Superfine Atomised Residue (MSAR®) which has created an enhanced synthetic heavy fuel oil (HFO) for the purpose of industrial applications. The MSAR Technology is applied in various sectors such as gas cleaning systems and as lower-cost fuel alternatives. Apart from the technology, the company also produces MSAR equipment for integration into the refinery or to operate as an individual, separate facility. The company undertakes and supervises the design and chemical formulation to create a structure that can be integrated into the refining plants. The company also has a Polymer bending and support unit, which is proprietary in nature, which the company licenses to others for various other applications. This technology is dynamic in nature, and the company can fluctuate the design as per the size and the scope of the project. Other than these functions, the company also engages in Engineering, Procurement and Construction (EPC) of various projects and also acts as a project manager for projects, as an EPC contractor or a Project Manager. The company also performs the functions of operations and quality control and other business to business project management in the emulsion fuel space.

QFI Financial Performance (Final results for the year ended 30 June 2019)

On 7th October 2019, the company reported its final results for the year ended 30 June 2019. The company reported the overall revenue at £22,000 in FY 2019 as compared to £9,000 in FY 2018. The company also reported a reduction in the production and development costs from £2.002 million in FY 2018 to £1.475 million in FY 2019. This was effectively a reduction of 35.72 per cent year on year. As a result of this, the company also reported a reduced Operating loss from £3.56 million in FY 2018 to £3.16 million in FY 2019, year on year decrease of 11.29 per cent. This led to a reduction in Loss for the period from £3.26 million in FY 2018 to £2.98 million in FY 2019. This loss translated into a basic and diluted loss per share (B/DLPS) reduction from GBX 0.38 per share in FY 2018 to GBX 0.34 per share in FY 2019, a decline in Basic or Diluted Loss per share at 10.52 per cent year on year. As on 30th June 2019, the company displayed a cash and cash equivalents balance of £1.06 million. During the period the company reported a net cash outflow from operations at £2.54 million. The company also reported Total tax losses at £51.0 million in FY 2019 and total assets at £5.1 million as on 30 June 2019.

QFI Share Price Performance

On 7th October 2019, at 12:53 PM GMT, while writing, QFI stock traded at GBX 4.15 per share; an increase of 4.14 per cent or GBX 0.165 per share in comparison with the previous day’s closing price which was at GBX 3.985 per share. The market capitalisation (M-Cap) of the group is at around GBP 39.68 million.

The volume of the stocks that have been traded by the time of writing was 310,610. The average volume of stocks being traded every day for the previous one year has been 2.29 million. The share has displayed a surge of 47.02 per cent compared to the previous year’s trading price at GBX 2.80. The beta of the stock has been reported at 0.7176, which means that the stock is less volatile in its movement as compared to the comparative benchmark index.