Natural resource development company GETECH Group reported on Wednesday that it returned a to cash positive operating position over the 17 month period leading up to 31 December.
Getech Group has reported that Sierra Leone's fourth Offshore Petroleum Licensing Round is expected to take place between January and end-May 2018, as announced by Raymond Kargbo, the country's Director General of the Petroleum Directorate at this week's Africa Oil week Conference in Cape Town, South Africa.
Geoscience and geospatial provider Getech Group updated the market on its 2017 financial year on Wednesday, confirming it closed sales with a total value of £8.5m, of which £7.7m would be recognised in its results.
Getech issued an update to the market on Tuesday, after an announcement from the Oil and Gas Authority that - as part of the authority's "ongoing commitment" to encourage activity in underexplored areas of the UK Continental Shelf, it was purchasing a "comprehensive suite" of datasets and other information sources.
Shares rose in Getech Group, a provider of natural resources exploration data, as it announced it has won a contract from the Oil and Gas Authority (OGA) for a petroleum system related study of the UK continental shelf's South West Approaches region.
Oil services business Getech postes its preliminary results for the year to 31 July on Tuesday, with revenue of £7.03m, a significant reduction from the £8.64m reported last year.
Getech Group: WH Ireland downgrades to sector perform, cuts target price to 40.00p.
Shares in GETECH Group slumped over 14% early on Tuesday, after the oil services businesses warned its trading in the new year will be "substantially below" market expectations.
Getech, which provides data, studies and services to the oil, gas and mining exploration sectors, surged after saying it expects pre-tax profit for the year to double.
A profit warning from blue-chip oilfield services group Petrofac rattled the oil services, equipment and distribution sector in London on Monday, with stocks falling by an average 10%.
John Chatfeild-Roberts, the chief investment officer of Jupiter Fund Management, has trousered a tidy £2.29m after selling shares in an options deal a few weeks after they recovered from 12-month lows.
Getech, the oil services business specialising in the provision of exploration data and petroleum systems evaluations, on Tuesday reported a drop in annual pre-tax profit as revenue fell.
AIM-listed Getech has landed its largest ever single new contract, worth $5m.
Caledonia Mining: Numis lowers target price from 100p to 90p retaining a buy recommendation.
ASOS: Goldman Sachs reduces target price from 6250p to 5750p, while upgrading to strong buy.
AIM-listed petroleum and minerals firm, Getech Group, announced it has secured a $2m contract with an unnamed US oil and gas company.
AIM-listed Getech has warned that as a result of slow purchasing levels by clients, it now anticipates that its results for the 12 months ended July 31st will be "significantly below market expectations".
African Barrick Gold: Deutsche Bank raises target price from 240p to 310p and keeps a hold recommendation.