Viridien Shares Bounce Back to €115.30 as Brent Holds Above $110

North Sea Seismic Campaign Extends Group's Commercial Activity

Viridien announced on Monday the launch of a multi-client ocean bottom node (OBN) seismic survey covering 645 km² in the Frigg area of the North Sea, as detailed in the press release published on May 18. The processed data will be available in the third quarter of 2027. This project adds to the CDI25 seismic re-imaging program of 6,555 km² in Ivory Coast, launched at the beginning of May. The group continues to make commercial announcements following its quarterly publication on May 5, which reported a net cash flow of $26 million for the first quarter of 2026 and a net debt reduced to $700 million after a bond repayment of $41 million. The oil context remains a backdrop for the stock value. Brent remains high, at nearly $110 amid tensions around the Strait of Hormuz.

Rebound Occurs from the €111 Support in a Climate of Persistent Selling Pressure

The stock is currently 11.74% below its 20-day moving average (€130.63) and 11.16% below the 50-day moving average (€129.79). However, the long-term trend remains bullish, with the stock still 15.77% above its 200-day moving average at €99.59. The RSI at 38 reflects the pullback phase of recent weeks, without reaching the oversold zone. The session's rebound occurs near the technical support at €111, which was already tested on May 8 at €110.40. According to reviewed statements, the cumulative net short positions reach 2.87% of the capital, held by four funds including CAPITAL FUND MANAGEMENT (1.28%). However, this exposure has decreased by 0.53 point over thirty days, indicating a gradual easing of the bearish bet. The next financial event is the general meeting on June 3, 2026, followed by the publication of the second-quarter results on July 30.