Are these 2 AIM oil stocks a good buy now? - Kalkine Media

January 06, 2022 01:06 PM GMT | By Suhita Poddar
Follow us on Google News:


  • Saudi Aramco lowered its February prices of all crude oil grades, for its Asian customers.
  • Oil prices have risen again on easing investor concerns over Omicron’s spread impacting economic recovery.

The world’s largest oil firm, Saudi Aramco, lowered its February prices of all crude oil grades for its Asian customers on Thursday. It reduced its Arab Light grade for February, by about US$ 1.10, to US$ 2.20 per barrel.

The cut was though lower than analysts estimated cut of US$ 1.25, according to a recent Bloomberg survey.

The move comes just days after OPEC+ agreed to increase its supply in February by about 400,000 barrels per day, despite forecasting the market would face an oversupply in January.

Crude oil WTI February 2022 prices were trading higher by 1.73 per cent at USD 79.19.  Brent oil March futures were higher by 1.41 per cent at USD 81.94, on 6 January at 11:05 AM.

Brent’s prices were above USD 80 per barrel as investor concerns eased over the spread of the Omicron variant affecting global economic recovery.

However, OPEC+ maintained a cautious outlook thus leaving an option to hold the rise in output in case the demand sees a drop or significant amounts of oil are in storage.

Let us look at 2 AIM-listed oil stocks and explore their investment prospects:

  1. Coro Energy PLC (LON: CORO)

Coro is a UK-based energy company that is focused on the Southeast Asian region. It is listed in the FTSE AIM All-Share index.

The group shares surged over 3 per cent today following the publication of its latest research note. According to the note, the group’s Duyung PSC’s Mako Gas Field is positioned to supply gas to Singapore. The gas field is expected to start production by 2024.

CORO share price and volume

Image source: Refinitiv

The group’s shares were trading at GBX 0.34 on 6 January 2022 at 11:05 AM BST. It has a market cap of £7.01 million as of date.

The FTSE AIM All-Share index was at 1,196.95, lower by 1.16 per cent.

Related Read: 3 FTSE oil & gas stocks to buy for your long-term portfolio

  1. SDX Energy PLC (LON: SDX)

SDX Energy is MENA focused exploration and production energy company listed on the FTSE AIM All-Share index.

The group’s shares surged over 10 per cent today after it reported the commencement of oil production at its MSD-21 Well, located in the West Gharib Concession in Egypt.

It expects its post-clean up stabilized gross production rate to be around 300 barrels per day, which is in line with its estimates from pre-drill phase.

SDX share price and volume

Image source: Refinitiv

The group’s shares traded at GBX 10.75 on 6 January 2022 at 11:18 AM BST. It has a market cap of £20.02 million as of date.


The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Top LSE Listed Companies