News Oil & Gas

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 […]

Equipment & Logistics News Oil & Gas

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 […]

Equipment & Logistics News Oil & Gas

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 […]

Finance News Oil & Gas

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: […]

Finance News Oil & Gas

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 […]

Finance Metals & Minerals News

CAML begins exploration in Kazakhstan

Central Asia Metals plc has created a “solid platform for growth” from its cash holding of $50.6 million from copper-lead-zinc operations in Kazakhstan and North Macedonia. FINANCES In its half-year results, the company said it had started early-stage exploration in Kazakhstan with Terra Exploration and in 2023 expects to complete the Kounrad solar power plant. Group […]