It was a tough week for Advance Energy, which fell 86% to 0.625p after warning of potential problems at its Buffalo-10 well offshore Timor-Leste.

The Buffalo-10 well intersected its primary target, the Elang Reservoir, with early data indicating the presence of hydrocarbons, but the project operator warned that “information to date indicates that seismic processing techniques used on this project did not resolve the underlying seismic velocities or imagery.” solving problems that are present in this area.

Its peer in the sector, Reabold Resources, saw its shares jump 51% after the investment company, which specializes in upstream oil and gas projects, announced the first results of an independent analysis of the West Newton Extended Well program. Testing (EWT) in Ghana.

The study indicated the potential for initial production rates of 35.6 million cubic feet of gas per day from a horizontally drilled well located in the gas play, based on data from the West Newton A-2 well. .

It also indicated potential initial production rates of 1,000 barrels of oil per day from a horizontally drilled well located in the oil play.

88 Energy Ltd was wanted after saying it was on track for a February spud at the Merlin-2 well on Alaska’s North Slope.

The announcement eased fears sparked by reports that a protest group, the Center for Biological Diversity, had communications with the Bureau of Land Management regarding the drilling permit.

Stocks, among the most volatile in the small cap space, rose 42% on the week.

Helium One Global rose 48% this week after a multispectral satellite spectroscopy study identified multiple additional surface helium anomalies in the Rukwa, Eyasi and Balangida Explorer project areas.

A production update from Bluerock Diamonds sent the company’s shares 31% north.

The AIM-listed diamond producer, which owns and operates the Kareevlei Diamond Mine in South Africa’s Kimberley region, produced 6,866 carats in the last quarter of 2021, up 44% year-on-year, and sold 6,980 carats, up 3 percent.

With value per carat climbing 64%, fourth quarter revenue rose 68% to $3 million from $1.8 million a year earlier.

Away from the resource sector, Brave Bison Group pulled ahead after a strong trade update.

The digital media and social video broadcaster said annual results will be above current market expectations.

Shares jumped 31% after the company said revenue and views on the company’s advertising network had been robust, while Brave Bison’s agency won several new clients in the past quarter. of the year.

Diversified UK entertainment company The Brighton Pier Group has brought some post-holiday cheer with its business update covering the 26 weeks to Boxing Day.

Trading over the period was described as ‘extremely robust’ and although there was some impact in December due to lockdown restrictions, over the New Year bars regained momentum, trading up 9% from 2019.

Shares jumped 18% as management said the group was in a strong position to deliver a strong result for the year, comfortably in line with market expectations.

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Digital media and social video broadcaster Brave Bison said full-year results will beat current market forecasts

Shares of ReNeuron Group have been cut in half after it released “inconclusive” results from its Phase IIa hRPC trial in people with a degenerative eye disease called retinitis pigmentosa.

The company said it will now focus on the commercial potential of its exosome technology and license its human retinal progenitor cell (hRPC) program.

In general, it’s been a good time lately to be a scout, but not for Gattaca, the company formerly known as Matchtech.

Its shares lost just over a third of their value after the recruitment firm, which focuses on engineering and technology sections, issued a profit warning on Tuesday.

The group said the resumption of its contractual activity had been slower than expected. The contractual side of the business generally generates three quarters of the group’s net commission income.

2020, when Best of the Best was one of the best performers of the year, seems a long time ago, as the weekly online competitions company saw its shares plunge 34% after warning that the cost of acquisition new players had increased sharply in November and December.

New player acquisition costs in those months were around 37% higher than the previous six-month average, although early indications are that costs are trending back towards the average.

Another disappointing company with its business update was Eve Sleep, which describes itself as a “sleep wellness brand.”

The mattress seller – sorry, sleep wellness brand – said that during the Christmas trading period, high levels of Covid infection had put additional pressure on the delivery network, leading to “service challenges customer”, which presumably meant that the “sleep wellness products” (mattresses) did not arrive at customers’ homes in time for Christmas.

“We believe these challenges will be short-lived and reflect the current spike in sickness absences across the delivery network, and therefore expect the customer experience to return to our usual high levels over the coming months,” he said. said the company.