Critical Metals plc announced an increase in losses during 2020 but remained confident of progress this year with potential opportunities. EVALUATION Results for H2 2020 showed a net loss of £152,111 compared with £17,437 for the same period in 2019. The group had cash reserves of £630,148 (2019: £34,342) and raised £800,000. In September 2020 it listed […]
Tag: company results
IOG swings to a loss
Independent Oil and Gas plc (IOG) swung to a loss as the company’s cash balance fell and the group recorded a net debt. In its final audited results for the year ended 31 December 2020, the company reported post tax losses of £19.3 million compared with a 2019 profit of £15m generated by the CalEnergy […]
Angus mulls overseas projects as revenue falls
Angus Energy plc might might look overseas for projects as it reported a fall in revenue and production. DECREASES Accounts for the year ended 30 September 2020, show revenue fell to £68,000 (2019: £200,000) on production of a gross 1,594 barrels (2019: 5,346). Angus attributed this to the Lidsey oil field being shut in due […]
United remains within guidance on production increase
United Oil & Gas has announced that production remained within guidance following an increase from its Abu Sennan interest, onshore Egypt. PRODUCTION The company holds a 22% working interest in the licence which is operated by Kuwait Energy Egypt. In its fourth quarter results for 2020, United reported its second half net working interest averaged […]
Premier production falls due to Catcher issues
Premier Oil plc has lowered its full-year production guidance following problems in its biggest producer, the operated Catcher oil field in the UK central North Sea. OPERATIONS The company posted production figures of an average 62.5 thousand barrels of oil equivalent for 10 months to 31 October 2020. Guidance has been revised from previous forecasts […]
United H1 success secured by Egyptian assets
United Oil & Gas plc reported a successful first half of 2020 with group revenue of $2.4 million (£1.86m) and gross profit of $0.3 million (£0.23m) due to the company’s integration of its Egypt assets. Interim results showed profit after tax at $1.8 million (£1.4m) with realised oil price of $28.26/bbl. Cash collections in the […]