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 […]
Tag: company results
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 […]
FCM to advance exploration before sale or JV for Ontario licences
First Class Metals plc said it planned to advance it exploration strategy before selling or entering a joint venture (JV) for its metals’ licences in Ontario, Canada. STRATEGY In the company’s final results for the year ended 31 December 2022, chief executive Marc Sale added that most of the six out of nine properties explored […]
Capricorn to return $575m to shareholders
Capricorn Energy plc has committed to returning some US$575 million excess cash flow to shareholders. ACTIONS The company said the funds, due over the coming 12 months, were not needed for its future operational focus. A total $100m depends on negotiations with stakeholders and licence extensions in Egypt, actual oil and gas prices and the […]