Oriole Resources plc recorded a £1.45 million impairment, comprising 92% of overall losses, from its holding gold interests in Egypt. FINANCES The group’s main operations are exploration projects in Cameroon, partner exploration activities in Senegal, and the management of its investment and royalty positions. The final results for the year ended 31 December 2022 showed total loss for […]
Tag: company results
Angus losses rise due to derivative instrument
Angus Energy plc’s rise in losses could see it raise further funds for its onshore oil and gas assets in the United Kingdom. FINANCES The company’s audited annual accounts for the year ended 30 September 2022 showed losses of £111.947m, which included a derivative loss of £110.309m in relation to the derivative instrument, resulting in […]
Power Metal moves to value creation
Power Metal Resources plc said it would focus more on creating value from its existing interests rather than on acquisitions during the remainder of 2023. NEW PHASE In the group’s audited financial results for the year ended 30 September 2022, Power Metal chief executive Paul Johnson added that operational targets for 2023 included “proactive exploration work” […]
Hummingbird production to rise with Kouroussa
Hummingbird Resources plc expects first gold pour scheduled for the end of Q2 at its Kouroussa project in Guinea to add material increase to the group’s production for 2023. OUTLOOK In its operational report for Q4 2022 and outlook for 2023, the company added that critical path construction and operational readiness items were nearing completion […]
Block maintains steady revenue and production
Block Energy plc reported a slight dip in production and marginal increase in revenue for the fourth quarter of operations at its oil and gas assets in Georgia. FINANCES The company’s operations report for the three months ended 31 December 2022 showed revenue of US$1,840,400 (Q3: $1,833,000). Block Energy sold 21.3 Mbbls of oil (Q3: 17.9 Mbbls) for $1,691,400 (Q3: $1,614,000), at a weighted […]
Red Rock losses rise from Africa-Australia costs
Red Rock Resources plc reported an increase in losses of more than £1 million from its interests in Africa and Australia. FINANCES The company’s final audited results for the year ended 30 June 2022 showed that it had yet to generate revenue from its operations. Pre-tax loss of £2,800,000 (2021: loss of £1,699,000) was attributed […]