The Straits Times Index (SGX: ^STI) has returned to its losing ways with a 0.4% dip to 3,054 points after a brief respite last Friday. 22 out of the index’s 30 constituents had ended the day in the red, with only 6 shares making some gains. That said, there were still some shares outside the index that had made some rather significant daily climbs. Let’s take a look at them. Loyz Energy (SGX: 594) is up 4.8% to S$0.33. The oil & gas exploration and production company had announced today after the market closed that its American…
22 out of the index’s 30 constituents had ended the day in the red, with only 6 shares making some gains.
That said, there were still some shares outside the index that had made some rather significant daily climbs. Let’s take a look at them.
Loyz Energy (SGX: 594) is up 4.8% to S$0.33. The oil & gas exploration and production company had announced today after the market closed that its American operations had “progressed to first oil production.”
Its Schlak #3 well in North Dakota has reached a stable early production of around 50 to 60 barrels of oil per day. The well is part of Loyz’s onshore drilling programme in North Dakota and Colorado in the USA under a participation-and-exploration agreement with Norwegian oil & gas outfit Fram Exploration ASA. The agreement covers about 60,000 acres of exploration and production leases that are owned by Fram.
Loyz’s managing director, Adrian Lee, commented on the announcement: “This latest development marks the start of recurrent earnings from [Loyz’s] investments in various concessions and participation agreements. We will continue to be driven by our twofold energy strategy to bring our concessions to production and at the same time, add other producing assets to bolster our bottom line.”
Elsewhere in Colorado, Loyz is undergoing drilling and testing work on the Mansur 33-1-N and Mansur 33-1-L wells.
Ship owner and feeder shipping services provider Samudera Shipping Line (SGX: S56) climbed 3.5% to S$0.15. Two Fridays ago, the company had announced that it had sold two vessels: the 3,426 deadweight tonnage (DWT) chemical tanker Sinar Bunyu and the 350 DWT barge unit Cumawis 110.
Samudera’s latest third quarter results saw its quarterly revenue shrink by 18% year-on-year to US$97.4m while clocking US$239,000 in losses, a far cry from the US$1.26m it made in profits in the corresponding period last year.
Civmec (SGX: P9D) gained 3.3% to S$0.775. The Australia-based heavy engineering and construction services provider had announced a week ago that it had clinched a major project.
The company’s subsidiary, Civmec Construction & Engineering, a heavy engineering service provider, had won its first major contract for its Darwin operations after its expansion into the Northern Territories of Australia earlier this year.
The contract win has brought Civmec’s current order book value to S$386m. Civcmec’s chief executive, Pat Tallon commented on his excitement about the Darwin contract and added that it “almost singly validates [the company’s] decision to expand into the Northern Territory earlier this year.”
In addition, Tallon feels that “the Northern Territory has many opportunities and this award [referring to the contract win] is [Civmec’s] first step to capitalise on them.”
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