AIM Round-Up: New World Oil and Gas Up 177 Percent

The Alternative Investment Market (AIM) rose 0.63 percent on Friday to close at 753.32 points for the week. The bump came after the Conservative Party triumphed in the UK general election, winning an outright majority, as per London South East.

New World Oil and Gas (LSE:NEW) was Friday’s top performer, and its share price rose 177.78 percent to hit GBP0.50. The company is currently developing three prospective projects in Denmark and Belize, and looking for additional acquisitions. The company’s share price has been especially volatile of late as it engages in a dilutive placing program that should raise GBP1.5 million, according to ProactiveInvestors UK.

The day’s second-largest gain came from African Copper (LSE:ACU), a Botswana-focused copper exploration and production company. African Copper’s share price climbed 50 percent to hit GBP0.15. The company announced plans to seek shareholder approval for the cancelation of admission of its ordinary shares to trading on the AIM and Botswana Stock Exchange on May 7.

With a 40-percent drop in share price, Independent Resources (LSE:IRG) saw the day’s biggest decline. Shares of the oil and gas acquisition and development company came to rest at GBP1.12 following the announcement of a conditional placing of 80,000,000 shares.

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