(MENAFN- ProactiveInvestors - UK)
Enjoying a rare day in the sun on Friday were shares in Gulf Keystone Petroleum (LON:GKP), which rose almost 6% after the Kurdistan-focused oiler received a US$300mln bid approach.
The Middle East-focused, Norwegian group DNO is proposing a cash and equity deal that would put long suffering investors out of their misery.
The putative transaction follows very quickly on the heels of a debt for equity swap that effectively rescued London-listed GKP, but diluted existing holders out of sight.
It has been a roller coaster ride for those with cash still tied up in GKP, which in recent years has involved a rather scary downhill section.
The stock topped out above 4 in 2012 when it first began to enjoy success at Shaikan field, at a time when the Kurdistan region of northern Iraq was seen as an exciting new oil frontier.
The company funded growth by raising debt based on the potential of its world class assets.
However, a perfect storm of falling prices, political instability and rather modest export income (that fell well short of what was needed to meet its financial requirements), hurt GKP badly.
Today the stock was changing hands for a little over 4p, but has been even lower.
Looking at the market for small cap stocks, the FTSE AIM 100 has enjoyed a decent run this week, posting a gain of 2.3% this week, outperforming the index of blue-chip shares, which unchanged over the same period.
The day's biggest mover was Braveheart Investments (LON:BHR), which rocketed 140% after it said one of its portfolio companies was in talks to be bought.
The deal, if it goes ahead, would result in a significant profit for Braveheart. However investors were also warned: 'There can be no certainty that such transaction will be completed.'
Newcomer Concepta (LON:CPT) has enjoyed a decent first week on the junior market, delivering a 22% return for those who invested in the stock placing.
The company specialises in fertility monitors for women who are finding it difficult to conceive.
The product goes on sale this year in China and next in the UK and Europe, which means backers won't have to wait long before the business is revenue generative.
This is a novelty in a sector noted for its ability to burn through prodigious amounts of cash.
Concepta was one of three small-cap floats this week stem cell specialist WideCells (LON:WDC) and Italian PR firm SEC being the others. Both are trading above their issue prices.
Also on a high was Quartix (LON:QTX), the vehicle tracking specialist which posted a 47% rise in revenues earlier from its insurance operation earlier this week.
The shares, currently changing hands for 377p, are up 5% this week. However in the past year they have advance almost 70% and have more than doubled from the 2014 float price of 145p.
The company, led by chief executive Andy Walters, certainly seems to be delivering.
Miner Sierra Rutile (LON:SRX) rose around 3% today after it received a bid approach.
However it appears a few people spotted its potential well ahead of time with the stock up around 70% in the 30 days before Aussie firm Iluka lodged its 200mln cash offer.
Sticking with the miners, the copper producer Weatherly International (LON:WTI) has had a week to forget with the stock down 39% in the wake of last Friday's market update.
Production at the Tschudi operation in Namibia is suffering from groundwater inflows.
Sticking with the fallers and it has been another dire week for Xcite Energy (LON:XEL), the North Sea focused heavy oil play which has lost a quarter of its value in the last five trading sessions.
The AGM statement earlier this week appeared fairly anodyne, though debt negotiations are taking place in the background as it seeks partners for the Bentley heavy oil field.
It is interesting to note the stock was worth almost 170p in 2012 and is now changing hands for just over 5p.
Finally, Stride Gaming (LON:STR) shares were off slightly, although its investors will forgive the management after they unveiled a 70mln deal that will effectively double the online bingo firm's market share.
The deal will be part funded via an 27mln issue of stock.
Shore Capital, the company's broker, says the acquisition will effectively double Stride's operating profits.
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