Critical Metals plc announced an increase in losses during 2020 but remained confident of progress this year with potential opportunities. EVALUATION Results for H2 2020 showed a net loss of £152,111 compared with £17,437 for the same period in 2019. The group had cash reserves of £630,148 (2019: £34,342) and raised £800,000. In September 2020 it listed […]
Tag: company results
IOG swings to a loss
Independent Oil and Gas plc (IOG) swung to a loss as the company’s cash balance fell and the group recorded a net debt. In its final audited results for the year ended 31 December 2020, the company reported post tax losses of £19.3 million compared with a 2019 profit of £15m generated by the CalEnergy […]
Angus mulls overseas projects as revenue falls
Angus Energy plc might might look overseas for projects as it reported a fall in revenue and production. DECREASES Accounts for the year ended 30 September 2020, show revenue fell to £68,000 (2019: £200,000) on production of a gross 1,594 barrels (2019: 5,346). Angus attributed this to the Lidsey oil field being shut in due […]
United remains within guidance on production increase
United Oil & Gas has announced that production remained within guidance following an increase from its Abu Sennan interest, onshore Egypt. PRODUCTION The company holds a 22% working interest in the licence which is operated by Kuwait Energy Egypt. In its fourth quarter results for 2020, United reported its second half net working interest averaged […]
United H1 success secured by Egyptian assets
United Oil & Gas plc reported a successful first half of 2020 with group revenue of $2.4 million (£1.86m) and gross profit of $0.3 million (£0.23m) due to the company’s integration of its Egypt assets. Interim results showed profit after tax at $1.8 million (£1.4m) with realised oil price of $28.26/bbl. Cash collections in the […]
JOG looks to ‘exciting’ future with larger portfolio
Jersey Oil and Gas plc (JOG) said it had exciting prospects with a strong cash position of £8.9 million for the first half the year and increased assets, despite trebling losses. RESOURCES Losses for H1 2020 before and after tax totalled £1.2m (H1 2019: £400,000) with expenditure related to the company’s flagship Greater Buchan Area development project […]