Upstream Share Discussion Threads

[master rsi] 02/4/2024 16:45

How the UPS are performing during last month

[master rsi] 02/4/2024 16:32

How the UPS are performing today

[master rsi] 02/4/2024 15:53

Gold is going places again

$2,262p +13
It went much higher not long ago

[master rsi] 02/4/2024 15:23

Cordel set to meet full-year revenue expectations

Cordel Group PLC - London-based company, whose flagship platform uses artificial intelligence to supply transport corridor analytics - Says it is confident in achieving its full-year revenue expectations for the financial year ending June 30. Its financial 2023 revenue was GBP3.0 million. Notes that the delivery of its USD6.7 million contract with Amtrak, the national rail operator for the US, which was signed in March of last year, continues to make good progress.

Chief Executive Officer John Davis says: "Our sales team around the world is working hard towards our 30 June objectives, while our technology team continues to deliver high quality, on-time results to customers. New product development continues at pace, with a particular focus on automation and refinement."

Current stock price: 3.30 pence, down 5.7% in London on Tuesday

[master rsi] 02/4/2024 15:01

Centrica buys two solar farms as part of £4bn spending spree

Proactive Investors - British Gas parent Centrica PLC (LON:CNA) has acquired two solar projects in England’s West Country as part of plans to invest £4 billion in renewables over the coming years.

Combined, the sites in Dorset and Wiltshire will have a capacity of 29 megawatts (MW) and be able to power around 7,800 homes.

“Solar will play an increasingly important role in the UK as we strive for a net zero energy system,” Centrica director Greg McKenna commented.

Dorset’s Winterborne Whitechurch project is set to start construction this year with the first energy scheduled in 2025 and will include a 16MW solar farm, alongside battery storage.

The Roundponds site in Wiltshire is already operational meanwhile, boasting 13MW output having opened in 2015.

Such additions, made for an undisclosed sum, to Centrica’s portfolio come as the energy firm plans to invest as much as £4 billion in renewable generation by 2028.

[master rsi] 02/4/2024 14:49

DOW

Opening lower with 442 points down

[master rsi] 02/4/2024 13:25

IMM 2.50p (0.375 / 17.65%%) -Immupharma jumps amid new IP strategy for P140 technology platform

(Alliance News) - Immupharma PLC on Tuesday announced a new intellectual property strategy to significantly enhance the patent life and commercial value for its P140 technology platform.

Shares in Immupharma, the London-based drug discovery and development company, jumped 20% to 2.55 pence early on Tuesday afternoon.

P140 is ImmuPharma's technology platform for its portfolio in autoimmune diseases. This comprises the lead indication commencing a phase 3 clinical study in systemic lupus erythematosus and the second indication, in preparation for a phase 2/3 adaptive clinical study in chronic idiopathic demyelinating polyneuropathy.

ImmuPharma said the new patent initiative will strengthen the commercial value of P140 and add to the "positive engagement we are already experiencing in discussions with a broad range of potential commercial partners on SLE and CIDP."

It said new patents will not only "significantly enhance the patent protection for P140 in SLE and CIDP but will also support patient studies in other auto-immune/inflammatory diseases and release further value from the P140 technology platform."

Chief Executive Tim McCarthy called it an "important" new initiative which will "greatly improve the intellectual property protection for our P140 technology platform and extend its patent life significantly."

[master rsi] 02/4/2024 12:20

How the UPS are performing during last month

[master rsi] 02/4/2024 12:02

How the UPS are performing today

[master rsi] 02/4/2024 11:48

UK and US sign agreement to partner on safety testing AI models
(Alliance News) - The UK has signed an agreement with the US that will see the two countries' AI Safety Institutes work together to test emerging AI models.

The memorandum of understanding will see the two align their scientific approaches and exchange information and personnel, as well as carry out joint testing exercises on AI models.

The announcement follows a commitment made at the AI Safety Summit, held at Bletchley Park last November, when major AI firms in attendance such as Microsoft Corp-backed OpenAI and Alphabet Inc's Google DeepMind, agreed to a voluntary scheme that would allow AI safety institutes to evaluate and test new AI models before they were released.

The UK Department for Science, Innovation & Technology (DSIT) said the new partnership with the US would take effect immediately, and that the collaboration would help governments keep pace with the emerging risks around AI as it continues to develop rapidly.

DSIT said similar partnerships with other countries were also planned in the future.

Technology Secretary Michelle Donelan said: "This agreement represents a landmark moment, as the UK and the US deepen our enduring special relationship to address the defining technology challenge of our generation."

"We have always been clear that ensuring the safe development of AI is a shared global issue. Only by working together can we address the technology's risks head-on and harness its enormous potential to help us all live easier and healthier lives.

"The work of our two nations in driving forward AI safety will strengthen the foundations we laid at Bletchley Park in November, and I have no doubt that our shared expertise will continue to pave the way for countries tapping into AI's enormous benefits safely and responsibly."

Gina Raimondo, US secretary of commerce, said: "AI is the defining technology of our generation. This partnership is going to accelerate both of our Institutes' work across the full spectrum of risks, whether to our national security or to our broader society.

"Our partnership makes clear that we aren't running away from these concerns – we're running at them. Because of our collaboration, our Institutes will gain a better understanding of AI systems, conduct more robust evaluations, and issue more rigorous guidance.

"By working together, we are furthering the long-lasting special relationship between the US and UK and laying the groundwork to ensure that we're keeping AI safe both now and in the future."

Speaking in November last year, Rishi Sunak said the AI Safety Summit would "tip the balance in favour of humanity" in reference to the agreement with AI firms to vet their new models.

The UK prime minister said "binding requirements" would likely be needed to regulate the technology, but now is the time to move quickly without laws.

Elon Musk, the owner of social media platform X, has also described AI as "one of the biggest threats" facing humanity.

The government announced in February that more than GBP100 million will be spent preparing the UK to regulate AI and use the technology safely, including helping to prepare and upskill regulators across different sectors.

Ministers have chosen to use existing regulators to take on the role of monitoring AI use within their own sectors rather than creating a new, central regulator dedicated to the emerging technology.

[master rsi] 02/4/2024 11:17

SMALL-CAP WINNERS & LOSERS: Renewi opens hard plastics sorting site
SMALL-CAP - WINNERS

CMC Markets PLC, up 2.5% at 223.00 pence, 12-month range 86.90p-225.00p. The online trading firm's share price improves after RBC raises its price target for CMC Markets to 240p from 190p. RBC rates CMC Markets at 'outperform'. On Wednesday last week, CMC Markets raised its full-year outlook after a positive fourth quarter. In a trading update for the financial year ending March, the London-based online trading firm said it expects full-year net operating income to exceed the top end of the previously guided range of between GBP290 million and GBP310 million. This would be up from GBP288.4 million in financial 2023. Following the strong trading performance seen in the third quarter, the positive momentum continued in the fourth quarter, CMC said.

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Renewi PLC, up 2.8% at 590.00p, 12-month range 446.50p-749.00p. The company which turns waste into recycled products opens a hard plastics sorting facility in Acht, Netherlands. It says the opening of the new facility advances its recycling efforts and solidifies its position as a leader in the sector and reducing reliance on traditional waste disposal methods. Renewi says: "The Acht facility showcases Renewi’s innovative approach towards future recycling processes and will help increase the company's recycling rate further. Renewi aims to expand partnerships with industry leaders and stakeholders, reaffirming its commitment to sustainability and helping leading the charge towards a waste-free future."

SMALL-CAP - LOSERS

Synthomer PLC, down 2.4% at 253.50p, 12-month range 14.44p-301.37p. The chemicals manufacturer's share price falls, despite Jefferies raising its price target for Synthomer to 220p from 130p. Jefferies rates Synthomer at 'hold'. Last month, Synthomer said its loss widened in 2023 as revenue dropped, but said it had been taking "decisive actions" for longer term growth. Revenue fell 15% to GBP1.97 billion in 2023 from GBP2.33 billion the year before, due to a reduction in volume and pass through of lower raw material input prices, the firm explained. Pretax loss widened significantly to GBP106.8 million from GBP34.2 million as a result. Looking ahead, Synthomer said trading since the start of 2024 had been "cautiously encouraging", due to short-term restocking by customers.

[master rsi] 02/4/2024 10:42

Oil gains on expectations for higher demand and as Middle East concerns rise
Oil prices rose on Tuesday, underpinned by signs that demand may improve China and the U.S., the world's biggest oil consuming nations, and growing concerns of a widening conflict in the Middle East that could affect supply from region.

Brent futures for June delivery rose 58 cents to $88 a barrel by 0641 GMT. U.S. West Texas Intermediate (WTI) crude futures for May rose 58 cents to $84.29 a barrel, after reaching the highest close for a front month contract since Oct. 27 in the previous session.

"The bullish catalysts for oil prices continue to pile up, with stronger-than-expected economic conditions in China and the U.S. offering a more optimistic demand outlook, while geopolitical tensions in the Middle East continue to heat up with the involvement of Iran," said IG market strategist Yeap Jun Rong in an email.

Manufacturing activity in March in China expanded for the first time in six months and in the U.S. for the first time in 1-1/2 years, which should translate to rising oil demand this year. China is the world's largest crude importer and second-largest consumer while the U.S. is the biggest consumer.

In the Middle East, an Israeli strike on Iran's embassy in Syria killed seven military advisors, among them three senior commanders, marking an escalation in the war in Gaza between Israel and Hamas, which is supported by Iran.

A widening of the conflict that has stretched for nearly half a year to include Israel directly fighting Iran has sparked concerns about impacts on oil supply.

"To date, the market hasn't been worried about supply disruptions, with the war remaining contained. Iran’s involvement could see its oil supply under threat," ANZ analysts wrote in a note.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, will hold an online meeting of its Joint Ministerial Monitoring Committee on Wednesday to review the market and members' implementation of output cuts. Members are expected to uphold their current supply policy calling for voluntary output cuts of 2.2 million barrels per day (bpd) to the end of the second quarter.

OPEC's output fell last month by 50,000 bpd, indicating the voluntary cuts are having some effect.

Higher discipline in production cuts from OPEC+ members are being felt on the ground, and "the market is also factoring in larger production cuts from Russia in next 3 months (in place of some export cuts earlier)," Suvro Sarkar, DBS Bank energy sector team lead, said in an email.

"Combined with persistent geopolitical risk events including the recent attack on the Iranian embassy in Syria, this could take oil prices towards US$90/bbl in the near term," he added.

[master rsi] 02/4/2024 09:34

KEEP an EYE

88E 0.335p +0.0745p (28.60%) / HICKORY-1 UPPER SFS ZONE FLOWS LIGHT OIL
88 Energy Limited (ASX:88E, AIM:88E, OTC:EEENF) (88 Energy or the Company) is pleased to announce successful flow testing of the Upper SFS reservoir in the Company's Hickory-1 discovery well, located in Project Phoenix on the North Slope of Alaska (88 Energy ~75% WI owner).

Highlights
· Flow testing of the Upper SFS (USFS) reservoir confirms light oil discovery at Hickory-1.

· USFS flow rates achieved from low volume frac over small 20ft vertical interval are in line with expectations and results observed from other reservoirs on adjacent acreage.

· USFS test produced at a peak gauge flow rate of over 70 barrels of oil per day (bopd) of light oil. Multiple oil samples recovered, measuring ~40-degree API oil gravity.

· Quality and deliverability of the USFS reservoir now confirmed via oil production to surface under natural flow, with flow back fluids including unquantified volume of marketable natural gas liquids (NGLs) and associated gas, consistent with tests on adjacent acreage.

· 88 Energy will now seek an Independent Contingent Resource declaration for both the Upper SFS and Lower SFS reservoirs based on the flow of hydrocarbons to surface.

· Flow testing operations will transition to testing the shallower SMD-B reservoir over the next few days, in-line with the multi-reservoir, staged flow test approach adopted for Hickory-1.

[davethehorse] 02/4/2024 09:00

Looks like POLR is breaking out today, with fund inflows likely to have rebounded strongly in Q1 and the fact many are looking to invest in good, well managed profitable companies paying high yielding dividends before this year's ISA deposits close and for the start of the 2024 ISA. A huge re rate is on the cards here imo, could add 20% quite quickly and before this year's ex div date in the summer months. GL all.

[davethehorse] 02/4/2024 08:43

Looks like POLR is breaking out today, with fund inflows likely to have rebounded strongly in Q1 and the fact many are looking to invest in good, well managed profitable companies paying high yielding dividends before this year's ISA deposits close and for the start of the 2024 ISA. A huge re rate is on the cards here imo, could add 20% quite quickly and before this year's ex div date in the summer months. GL all.

[master rsi] 02/4/2024 08:36

UPS

BOOM 247.50p ( 245 v 250p )

Needs to break 250p to go positive on the chart, but already looking forward to that today. The last updates are very bullish for the company and the Q1 is due on the 15 April and the downloads are getting record numbers already.
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INDICATORS

[master rsi] 02/4/2024 08:30

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[master rsi] 02/4/2024 08:28

UPS

JOG 164p ( 163 v 165p )

Since last week is bouncing back after a large marked-down from 260p. Very undervalued for the exploration done and with cash.

[master rsi] 02/4/2024 08:15

FTSE

Opening higher with 56 points, much the same for the FTSE 250 with 56 points

[apotheki] 02/4/2024 07:25

Beacon Energy plc / LSE:BCE

Board and Management Changes

Beacon Energy (AIM:BCE), the full-cycle oil and gas company with a portfolio of onshore German assets through its wholly-owned subsidiary, Rhein Petroleum GmbH ("Rhein Petroleum"), announces that Larry Bottomley, the Company's Chief Executive Officer ("CEO"), has informed the board of his intention to retire as CEO effective 1 June 2024.

Larry will be replaced as CEO by Stewart MacDonald, the Company's current Chief Financial Officer ("CFO") following a suitable handover that encompasses the upcoming SCHB-2 sidetrack operation. Beacon confirms that the rig mobilisation is on track with the rig due to arrive on location in mid-April with the sidetrack operation scheduled to commence the following week.

Stewart joined Beacon in August 2022 with strong investment banking and listed company CFO experience gained over the last 20 years. Stewart's contribution over the last 18 months since the Company's re-establishment has been pivotal and makes him the natural successor to Larry as CEO.

After a distinguished international career of over 40 years, Larry has been CEO of the Company since January 2022 and was instrumental in re-establishing the Company from AIM listed cash shell, through the reverse takeover of Rhein Petroleum, and on to the drilling of the SCHB-2 well which resulted in a material oil discovery. Following the handover, Larry will transition into the role of Non-executive Director and provide continuing support.

The search for a Chief Operating Officer, to support the technical and operational workstreams within the executive team, will commence shortly.

Mark Rollins, Chairman of the Company, said:

"On behalf of the Board, I would like to thank Larry for his substantial contribution over the past two years. He has played a key role in repositioning the Company. We look forward to continuing to benefit from Larry's deep industry and technical experience in his capacity as a Non-executive Director. I am delighted to confirm Stewart's appointment as Chief Executive Officer. Stewart brings a wealth of financial, capital markets and commercial experience in the energy sector and we look forward to leveraging his experience as we look to deliver our growth strategy."

Commenting on his decision to retire, Larry Bottomley said:

"It has been an eventful couple of years through my tenure as CEO and I'm proud of what we have achieved in terms of establishing Beacon as a company underpinned by an existing production facility, a material proven reserve base, a highly capable operating team and a bright future as the company seeks to realise the significant upside potential of our portfolio. The completion of the impending side-track feels like the appropriate time for me to handover the role of CEO to Stewart who has proved himself as a very capable replacement with a deep understanding of the business and a strong alignment with shareholders. I look forward to continuing to support the Company through my new role as a Non-Executive Director."

[master rsi] 02/4/2024 00:27

GOLD
Keeps rising now $2254 +9

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