Serbian Diversified Financials Energy Small-Caps

NWF Group

Market Cap: UK£66.7m

Engages in the sale and distribution of fuel oils in the United Kingdom.

Zephyr Energy

Market Cap: UK£65.1m

Engages in the exploration and production of oil and gas resources in the United States.

Seascape Energy Asia

Market Cap: UK£61.2m

A full-cycle E&P company, engages in acquiring oil and gas assets in Malaysia.

Helium One Global

Market Cap: UK£55.3m

Engages in the exploration and production of helium gas.

Caspian Sunrise

Market Cap: UK£49.5m

Engages in the exploration and production of crude oil.

Upland Resources

Market Cap: UK£49.2m

A public investment firm specializing early stage companies.

Chariot

Market Cap: UK£46.0m

Engages in the oil and gas exploration and appraisal activities.

Enwell Energy

Market Cap: UK£38.5m

Engages in the exploration, development, and production of oil and gas properties in Ukraine.

Quadrise

Market Cap: UK£37.9m

Manufactures and markets emulsion fuels for use in power generation, industrial, marine diesel engines, and steam generation applications in the United Kingdom.

Star Energy Group

Market Cap: UK£36.5m

Engages in the exploration, development, processing, and production of oil and gas in the United Kingdom.

Zenith Energy

Market Cap: UK£36.2m

Engages in the exploration, development and production of oil and natural gas in Tunisia, Italy, and internationally.

Jersey Oil and Gas

Market Cap: UK£31.2m

Engages in the exploration, appraisal, development, and production of oil and gas properties in the North Sea of the United Kingdom.

Predator Oil & Gas Holdings

Market Cap: UK£30.8m

Engages in the exploration, appraisal, and development of oil and gas assets in Morrocco, Ireland, and Trinidad and Tobago.

Tekmar Group

Market Cap: UK£21.0m

Designs, manufactures, and supplies subsea stability and protection technology to offshore energy markets.

Parkmead Group

Market Cap: UK£20.2m

An independent oil and gas company, engages in the exploration and production of oil and gas properties in Europe.

EnergyPathways

Market Cap: UK£18.9m

An integrated energy transition company, focuses on lower emission energy solutions in the United Kingdom.

Neo Energy Metals

Market Cap: UK£18.3m

Operates as a mining and exploration company in South Africa.

Europa Oil & Gas (Holdings)

Market Cap: UK£18.1m

Engages in the exploration, appraisal, development, and production of oil and gas properties in the United Kingdom, Equatorial Guinea, and Ireland.

GCM Resources

Market Cap: UK£16.6m

A mining and energy company, operates as a resource exploration and development company in the United States.

Chesterfield Special Cylinders Holdings

Market Cap: UK£15.7m

Through its subsidiaries, design, manufactures, and reconditions high pressure gas cylinders United Kingdom, Canada, Germany, Australia, France, Spain, the United States of America, Norway, Italy, Europe, and internationally.

Prospex Energy

Market Cap: UK£15.6m

Operates as an oil and gas investment company.

Cloudbreak Discovery

Market Cap: UK£13.8m

Engages in the acquisition of natural resource project and royalty generation worldwide.

Block Energy

Market Cap: UK£13.3m

Explores for, develops, and produces oil and gas in the Republic of Georgia.

Reabold Resources

Market Cap: UK£13.3m

An investment holding company, engages in the development, appraisal, exploration, and evaluation of oil and gas projects.

Apertura Energy

Market Cap: UK£12.3m

Focuses on the energy sector in Venezuela.

Orcadian Energy

Market Cap: UK£11.1m

Engages in the exploration, appraisal, and development of oil and gas in the United Kingdom.

Quantum Helium

Market Cap: UK£11.0m

Engages in the exploration, development, and production of oil and gas properties in Australia and the United States.

Angus Energy

Market Cap: UK£10.6m

An independent UK onshore oil and gas development, production, and operations company, engages in the oil and gas extraction for distribution to third parties in the United Kingdom.

Cadogan Energy Solutions

Market Cap: UK£10.2m

Operates as an energy company in Ukraine.

Pennpetro Energy

Market Cap: UK£9.6m

Engages in onshore oil and gas exploration and production in the United States.

Tower Resources

Market Cap: UK£8.1m

Engages in oil and gas exploration activities in Africa.

United Oil & Gas

Market Cap: UK£7.7m

Engages in the exploration, development, and production of oil and gas in the United Kingdom, rest of Europe and greater Mediterranean, and Latin America.

Geo Exploration

Market Cap: UK£7.4m

Explores for oil and gas exploration and development in Africa and Australia.

Oracle Power

Market Cap: UK£7.4m

Engages in the exploration and development of coal in Pakistan.

Active Energy Group

Market Cap: UK£6.4m

Does not have significant operations.

Deltic Energy

Market Cap: UK£6.1m

A natural resources investing company, engages in the exploration, evaluation, and development of gas and oil licenses in the Southern and Central North Sea.