Cornish Metals Inc ended last year with a significant increase in cash despite nearly doubling losses at its copper-tin project in Cornwall. FINANCES The Canadian company published its annual results on the same day it announced that Sir Mick Davis‘s Vision Blue Resources Ltd will be the ‘controlling person’ with the completion of a £40 […]
Tag: company results
Union Jack confident after ‘financially transformational’ year
Union Jack Oil plc said it remained highly positive for the future following a nearly 12-fold increase in profits from its exploration and production assets in the UK. FINANCES The company’s audited results for the year ended 31 December 2021 showed revenues rose nearly 12-fold to £1,894,875 (2020: £158,004) from production at Wressle, Keddington oilfield […]
Galantas losses increase at Cavanacaw gold mine
Galantas Gold Corporation reported an increase in losses as administrative costs doubled for its gold project at Cavanacaw in Omagh, Northern Ireland. FINANCES The Canadian company’s results for year ended 31 December 2021 show net loss of CA$5,284,431 (2020: $3,228,452). General administrative expenses were $4,332,865 (2020: $2,065,277). Cash outflow from operating activities before changes in non-cash […]
Hurricane swings to profit in year of ‘profound change’
Hurricane Energy plc said it ended 2021 in a much stronger position than at the start, with a “solid financial platform and very good operational performance” at its Lancaster field, west of Shetland. FINANCES For the period ended 31 December 2021, the company reported revenues of $240.5 million from seven liftings of Lancaster crude (2020: […]
United profits increase four-fold on higher prices
United Oil & Gas plc announced strong finances for 2021 with a four-fold increase in post-tax profits from its oil and gas assets. OPERATIONS The group’s working interest for 2021 production averaged 2,327 boepd (2020: 2,195 boepd) in line with guidance of 2,100 – 2,300 boepd. United recorded 100% drilling success in a five-well 2021 […]
Egdon swings to profit on price and production rise
Egdon Resources plc recorded an increase of 500% in overall profits from its onshore oil and gas operations in the East Midlands. OPERATIONS The company’s unaudited results for the six months ended 31 January 2022 show production increased by 116% to 36,714 barrels of oil equivalent (boe) equating to 200 boe per day (boepd) (H1 […]