UK Oil & Gas plc (UKOG) recorded an impairment of £2.9 million of the Horse Hill-1 oil well near Gatwick Airport in Surrey. HORSE HILL The company’s annual review and accounts for the year ended 30 September 2022 states: “Following an impairment review carried out as at 30 September 2022, the net present value of […]
Tag: company results
IGas Energy seeks near-term projects
IGas Energy plc aims to seek near-term profitable production projects and has abandoned plans to take legal action against the Government following last year’s reimposed moratorium on hydraulic fracturing. SHALE GAS The company said its portfolio of shale licences totalled 292,100 net acres with estimated mean volumes of undiscovered GIIP of 93 tcf. In its […]
Orcadian focuses on funding and farm-in for Pilot
Orcadian Energy plc said its main aim for 2023 was to find a partner and new investors to develop the Pilot oil field in the central North Sea. FINANCES In its unaudited results for H1 2022, the company added it planned to improve the technical and commercial definition of Pilot’s development as well as maximise […]
Scotgold rise in revenues offset by increased loss and debt
Scotgold Resources Ltd’s increase in revenues were dented by a rise in pre-tax losses and debt at Cononish gold and silver mine, near Tyndrum in Scotland. FINANCES The company’s interim results for the six months ended 31 December 2022 showed total revenues of A$9.5 million (H1 2022: A$6.4m) Loss before taxation was A$9.5m (H1 2022: […]
CAML impairment at Sasa halves profit
Central Asia Metals plc (CAM) reported group profit before tax fell by 50% from non-cash impairment charge at its Sasa lead-zinc mine in North Macedonia. FINANCES The company’s full year results for the 12 months ended 31 December 2022 for Sasa and its Kounrad copper recovery plant in Kazakhstan showed pre-tax profit of $54.6 million […]
Egdon production and revenue increase
Egdon Resources plc reported a rise in production and revenue mainly from its operations at the joint venture Wressle oil field in North Lincolnshire. FINANCES The company’s summary unaudited trading report for six months ending 31 January 2023 showed revenue increased by 46% to £3.725 million (H1 2022: £2.551m). As at 31 January 2023, Egdon […]