Hummingbird Resources plc has agreed to refinance a portion, totalling US$35 million, of its existing Coris Bank group loan and secured $20m new loans for its West African operations. SUPPORT The refinancing of existing Coris Bank loans will see loan repayments deferred from Q3 2023 to full year 2024. Funds will provide additional cash flow […]
Tag: company results
Swing to a loss still leaves Prospex on ‘sound footing’
Prospex Energy plc’s swing to a loss has failed to dent its optimism with the start of gas production in the Po Valley and approvals pending for more wells in Italy and Spain. FINANCES Half-year results to 30 June showed £888,473 loss after taxation from operations (H1 2022: profit £5,120,408). The figures includes unrealised losses of […]
Predator operating losses rise on multi-well drilling
Predator Oil & Gas Holdings plc reported more than a three-fold increase in operating losses from drilling for potential additional gas resources onshore Morocco. FINANCES Half-year results to 30 June saw losses of £2,361,721 (H1 2022: £599,789). Cash reserves totalled £1,006,006 (full year 2022: £3,323,161) and restricted cash of £1,188,863 (FY 2022: £1,245,798) as the security deposit for […]
Capricorn swings to loss as revenue and production fall
Capricorn Energy plc swung to a loss with decreases in production and revenue in the first six months of the year. COSTS The company posted losses of £62.2m (H1 2022: profit £40.8m) while revenue from production fell to $98.3m ($137.4m). Loss on other continuing operations of $58.3m includes unsuccessful exploration costs of $16.4m and general […]
JOG marks ‘clear pathway’ to monetise GBA
Jersey Oil & Gas plc (JOG) said it had a clear pathway to its commercial future following the farm-out of its Greater Buchan Area licences. PREPARATIONS Interim six-month results to 30 June, show the company held approximately £5.6 million cash with no debt. Loss for the period, before and after tax, was approximately £2.9m (2022: […]
Star Energy profits fall on lower oil prices
Lower oil prices, investment and taxes saw Star Energy Group plc half-year profits plummet and revenue fall from its onshore oil and gas operations. EXPENSES Results to 30 June 2023 showed the group, formerly IGas Energy, net production average rise to 2,071 boepd (H1 2022: 1,865 boepd), with the forecast unchanged at around 2,000 boepd for […]