AIM Round-Up: Serica Energy Spikes on Production Restart

The Alternative Investment Market (AIM) All-Share index (INDEXFTSE:AXX) saw a bit of a rise late this week. However, due to a slightly larger drop on Monday and Tuesday, the index was down 0.5 percent for the week overall, finishing at 728.96 points.
Taking a look at resource stocks on the rise, Serica Energy (LSE:SQZ) was up 63 percent to GBP8.45. As London South East reported, the oil and gas exploration and production company saw its share price start to spike on Wednesday after it announced it had entered production in the North Sea. Production restartedoil at its North Sea Erskine Field after an eight-month shutdown for downstream infrastructure maintenance.
Also on the rise was Thor Mining (LSE:THR), which is advancing its Molyhil tungsten–molybdenum project in Australia’s Northern Territory. It also holds the Pilot Mountain tungsten project in Nevada and the Spring Hill gold project in Australia. Shares of Thor gained 18 percent on the AIM this week, closing at GBP0.047.
Not faring so well, Caza Oil & Gas (LSE:CAZA) lost 54 percent to finish the week at GBP0.72. The company’s share price dropped following news of a potential financing. “If the Potential Transaction is consummated, it is likely to take the form of an equity investment in the Company which, given the current oil and gas commodity pricing environment, is likely to subject the Company’s existing shareholders to significant dilution,” the company stated.
Northern Petroleum (LSE:NOP) was also down for the week, dropping 39 percent to GBP3.00 following the release of interim results for the six months ended June 30 this Wednesday.
 
Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.