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AIM WINNERS & LOSERS: Block Energy closes farmout talks on XIQ licence

ALN

The following stocks are the leading risers and fallers on AIM on Thursday.

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AIM - WINNERS

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Block Energy PLC, up 26% at 1.07 pence, 12-month range 0.60p-1.25p. The Georgia-focused oil and gas company said negotiations for the farmout of licence XIQ, which is part of Project IV, to an unnamed ‘leading international E&P company’ have now concluded. Approval from the government of Georgia is expected during the fourth quarter of 2025 or the first quarter of 2026, at which point the deal will become legally binding. The XIQ licence is currently held by Georgia Oil & Gas Ltd, with a 68% operating stake, Georgia Oil & Gas Corp with a 22% interest, and Block Energy, which owns a 10% stake with an option to increase to 22%. The unnamed farm-in partner will acquire up to a 75% working interest in the licence under the terms of the deal and will receive an option to move to 92.5% interest in XIQ following the execution of an agreed work programme, in return for cash and royalty payments. Block Energy notes there can be no certainty the deal will complete.

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Eco Buildings Group PLC, up 16% at 3.20p, 12-month range 2.50p-10.90p. The London-based manufacturer of prefabricated modular housing products says it has been awarded a new contract to build a luxury 18-unit apartment block in Tirana, Albania, which is expected to generate €2.2 million in revenue. Anticipated gross margins are consistent with the 40% previously reported by the firm. The company has a letter of intent in place to build two further identical apartment blocks in the first and second quarter next year, with talks ongoing to then build an additional three blocks when the first three have been built. Eco Buildings also raises £300,000 via the issue of a two-year loan note, convertible at 4 pence per share, to provide additional working capital for the construction of the first apartment block.

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AIM - LOSERS

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Jet2 PLC, down 14% at 1,395.00p, 12-month range 1,088.00p-1,963.00p. The Leeds-based tour operator and airline reduces seats on sale for winter 2025/26 to 5.6 million from 5.8 million, due to a ‘less certain consumer environment’, though this still marks a 9% on-year increase from capacity during winter 2024/25. On sale seat capacity for summer 2025 was 8.0% higher than the summer of 2024, at 18.5 million seats. ‘To the end of August flown package holiday customers grew by 2%, with flight-only passengers rising by 17%, demonstrating the flexibility of our operating model and supporting our growth and market expansion,’ says Jet2. ‘Average package holiday pricing continues to display a modest increase, whilst net ticket yields for our flight-only product have become increasingly attractive, in part supported by the reallocation of marketing monies into price to improve conversion, alongside balanced cost control.’Jet2 currently expects earnings before interest and tax at the lower end of a company-compiled £449 million to £496 million consensus range, for the year ending March 31, 2026. This is due to the ‘limited visibility’ as a result of the later booking profile, and would be up at least 0.6% from £446.5 million the year before. It adds that it is ‘premature to provide definitive guidance’ for annual profit, however.

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