Jersey Oil & Gas plc (JOG) reduced its losses to leave it holding cash of £6.6 million for its assets in the Greater Buchan Area in the central North Sea. FINANCES Final results for the year ended 31 December 2022 showed JOG’s losses decreased to £3.1m (2021: £4.2m). The development company has yet to generate […]
Tag: company results
Baron Oil marks year of ‘considerable progress’
Baron Oil plc increased its cash reserves in year of considerable progress from its assets in Timor-Leste and the UK. FINANCES Audited financial results for the year ended 31 December 2022 showed cash reserves of the Group had increased to £5,807,000 from a level at the preceding year end of £1,650,000. Pre-tax losses increased slightly […]
Union Jack swings to £3.6m profit from 340% rise in revenue
Union Jack Oil plc recorded its first net profit of £3,606,624 post tax from a 340% increase in oil revenues mainly from the Wressle joint venture in the East Riding of Yorkshire. FINANCES The company’s audited results for the year ended 31 December 2022 showed revenues from oil sales of £8,507,050 (2021: £1,894,875) from Wressle […]
Block’s increase in revenues helps cuts losses
Block Energy plc’s revenues rose 35% based on increased production, helping to reduce losses “significantly” from its oil and gas licences in southeast Georgia. FINANCES The company’s audited results for the year ended 31 December 2022 showed revenue of $8,262,000 (2021: $6,114,000), with other income including $281,000 from an insurance claim. The total loss for the […]
Harbour on course to cut 350 UK positions
Harbour Energy plc today said it had started to review its activities in the United Kingdom and is on course to cut some 350 onshore jobs. UK ACTIVITY The review, due to complete during H2 2023, is forecast to save the company $50 million annually from 2024. In its Q1 2023 unaudited trading and operations […]
Alba ‘very bullish’ as losses rise with operations on hold
Alba Mineral Resources plc reported an increase in losses but remained “very bullish” while it continues to await permits for the Clogau-St David’s gold mine in Wales. FINANCES Final results for the year ended 30 November 2022 showed operating losses of £1,623,000 before impairments (2021: £1,067,000). The figure reflected a full year of administrative expenses […]