Overnight Brent oil opens lower slipping its 21EMA and looks to be heading towards the bottom of the channel: still very much rangebound

DXY dollar index is unch

Gold looks to be holding to the 50MA region for now around $2034

Bitcoin remains held at $51500 holding the 8EMA

Quiet day in the economic calendar with  reporting at 0700 from  BNZL KOS ENSI TSTL KSPI

range bound oil opens lower below the 21 EMA: click chart to make full screen

Gold starts the week around the $33 level holding the 50 MA as the DXY is sideways

I3E Potential Reversal Play on  Strong Results - RNS

Cautious tone on outlook given softer commodity prices but strong results albeit in-line: chart shows vol squeeze building which may break to the upside given the recent heavy selling

Highlights:

·    2023 annual average production of 20,711 barrels of oil equivalent per day ("boepd"), which represents record annual corporate production and is at the high end of the Company's 2023 guidance range of 20,000 - 21,000 boepd

·    Q4 2023 production averaged 20,413 boepd

·    2023 drilling programme completed, delivering 12 gross (8.0 net) wells, which met or exceeded management's expectations and were completed on budget despite a high inflationary environment

·    In Q4, four gross oil focused wells (2.54 net) were drilled in i3's Central Alberta core area

·    Full year 2023 net operating income ("NOI")¹ (unaudited) is approximated at USD 93 million, in line with guidance, with year-end 2023 Net Debt² expected to be approximately USD 23 million (unaudited).

·    Dividends of £3.083 million were declared and paid during the fourth quarter, with total dividends of £13.298 million declared and £15.338 million paid in 2023. Additionally, the Q4 2023 dividend of £3.084 million was declared and paid in early 2024.

Tristel announces  record results and regulatory approval  RNS

chart is setup for a breakout after a recent pullback to the 50MA - low volume name  so likely to  gap higher

 

Financial highlights

·      Revenue up 20% to a record £20.9m (2022: £17.5m)

·      Overseas sales up 13% to £12.7m (2022: £11.2m)

·      Reported EBITDA up 21% to £4.7m (2022: £3.9m)

·      Adjusted* EBITDA up 18% to £5.4m (2022: £4.6m)

·      Reported profit before tax up 44% to £3.4m (2022: £2.4m)

·      Adjusted* profit before tax up 34% to £4.1m (2022: £3.1m)

·      Reported EPS up 104% to 6.50p (2022: 3.19p)

·      Adjusted* EPS of 8.68p up 87% (2022: 4.65p)

·      Doubling of interim dividend to 5.24p per share (2022: 2.62p)

·      No debt and cash of £10.8m (2022: £8.4m)