United Oil & Gas plc’s revenue fell and capital expenditure rose from mixed results in a “challenging year” at its Abu Sennan interests, onshore Egypt. FINANCES The company holds a 22% working interest in the licence which is operated by Kuwait Energy Egypt. Audited results for the year ended 31 December 2022 show revenue of […]
Tag: company results
Europa swings to pre-tax loss
Europa Oil & Gas (Holdings) plc recorded its highest interim revenues from the onshore Wressle oil field but swung to a pre-tax loss due to an offshore exploration impairment charge in Morocco. FINANCES The company’s unaudited interim results for the six months ended 31 January 2023 showed revenues increased to £3.7 million (H1 2022: £2.2m), […]
Hummingbird progresses Yanfolila-Kouroussa
Hummingbird Resources plc maintained steady performance at its Yanfolila gold mine in Mali while remaining on schedule for first gold pour at Kouroussa, Guinea. CONTRACT Results for Q1 2023 showed production continuing from the end of the previous year with 27,262 ounces (Q4 2022: 28,264: Q1 2022: 15,548). Q1 2023 all-in sustaining cost (AISC) from […]
Deltic looks to bright future in developing gas assets
Deltic Energy plc said its future looked “extremely bright” as it moves into the development phase of its offshore gas interests in the southern North Sea (SNS). STRATEGY In audited results for 2022, chief executive Graham Swindells added the company expected to conduct appraisal work on Pensacola and Selene wells, “each of which will be […]
Block sees ‘robust’ start to 2023 from West Rustavi
Block Energy plc said it had a “robust start” to the year from its onshore oil and gas operations in West Rustavi, Georgia. OPERATIONS For the three months ended 31 March 2023, the company produced 36 Mboe (Q4 2022: 34.4 Mboe) or an average of 400 boepd (Q4: 374 boepd). Th total comprised 26.8 Mbbls of oil […]
Serica Energy’s profits boosted by investment in North Sea assets
Serica Energy plc said increased production from 2021 investment and higher gas prices had resulted in higher profits from its offshore oil and gas operations in the North Sea. FINANCES For the year ended 2022, the company generated profit before tax of £488.2 million for 2022 (2021: £135.1m). After current and deferred tax provisions of […]