Stocks of the Hour: Bass Oil, Stealth Global Holdings, Archer Materials

Bass Oil (ASX:BAS) has confirmed that it has identified a significant gas resource in Cooper Basin in South Australia. The gas resource has been identified following an independent geological assessment by Fluid Energy Consultants, representing a new notable gas play in the region and potential new material source of gas for the domestic market. In response, Bass Oil Managing Director Mr Tino Guglielmo said, “A new gas resource of this kind is able to be commercialised efficiently due to the mature infrastructure of the Cooper Basin. Whilst we will progress this opportunity with vigour, we are also conscious of maximising the benefit to our shareholders.” Shares were up 148.7 per cent before the pause in trading.

Stealth Global Holdings (ASX:SGI), a leading industrial distribution group has today announced its sales results for the first four months of the Fiscal year 2023 trading period. Some highlights include: that the company increased its revenue by 22 per cent to $36 million and that the firm delivered double-digit sales growth in all customer segments. Shares are flat at 13 cents.

Archer Materials (ASX:AXE) informed shareholders that the company has implemented an early-stage prototype of an integrated biochip platform with automated liquid sample handling and readout. The work is a major milestone towards Archer’s biochip technology commercialisation. Commenting on Archer’s biochip development progress, Company CEO Dr Mohammad Choucair said: “Archer will focus on building advanced and sophisticated versions of this system which could be used in commercial or applied research settings.” Shares are trading 6.1 per cent higher at 70 cents.
 
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Source: Finance News Network