Anton Oilfield (03337) skyrocketed more than 10% during intraday trading before paring gains, with shares last up 7.38% at HK$0.80, recording turnover of HK$4.27 million. The surge follows the company's signing of a memorandum of understanding with Algeria's state-owned energy giant SONATRACH in Beijing on August 29.

The two parties have outlined cooperation in unconventional resources, marginal oil and gas fields, enhanced oil recovery (EOR), completion tools, and local manufacturing of natural gas equipment, alongside commitments to technology transfer and capacity building. This strategic pact underscores Anton Oilfield's deepening foothold in key overseas markets.

Notably, Anton Oilfield posted first-half revenue of RMB 2.682 billion, a year-on-year increase of 1.94%, while profit attributable to shareholders slipped 36.64% to RMB 105 million. The earnings dip reflects short-term pressure from Middle East geopolitical tensions, according to a research note from Everbright Securities Company Limited.

The brokerage highlighted that Anton Oilfield continues to achieve breakthroughs in overseas markets such as Kuwait and Algeria, while its oilfield development business model holds potential to unlock new growth avenues. Consequently, Everbright Securities reaffirmed its "buy" rating on the stock, signaling confidence in the company's long-term trajectory despite near-term headwinds.