REG - Baron Oil PLC - Unaudited Interim Results <Origin Href="QuoteRef">BOIL.L</Origin> - Part 2

Baron OilAnnouncement

21/09/2017 07:01

- Part 2: For the preceding part double click  ID:nRSU3371Ra 

                                      6 months to    6 months to    Year to  
                                                                                       30-Jun         30-Jun         31-Dec   
                                                                                       2017           2016           2016     
                                                                                       Unaudited      Unaudited      Audited  
                                                                                       £'000          £'000          £'000    
 Profit/(loss) for the period                                                          (916)          (951)          (2,044)  
 Depreciation and amortisation                                                         1,557          592            1,325    
 Share based payments                                                                  -              -              81       
 Non-cash movement arising on deconsolidation of non-controlling interests             (346)          (22)           (166)    
 Finance income shown as an investing activity                                         (2)            (32)           (92)     
 Tax Expense/(Benefit)                                                                 (519)          10             435      
 Foreign currency translation                                                          458            82             (195)    
 (Increase)/decrease in inventories                                                    -              53             204      
 (Increase)/decrease in receivables                                                    316            (351)          (513)    
 Tax paid                                                                              (87)           (110)          (25)     
 Increase/(decrease) in payables                                                       (822)          (183)          (1,756)  
                                                                                       ______         ______         _______  
                                                                                       (361)          (912)          (2,746)  
                                                                                       ═════          ═════          ═════    
 
 
 11. Related party transactions                                                                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                                                                                                       
 During the period, the company purchased geological services amounting to nil (30 June 2016: £9,600; 31 December 2016: £9,600) from GeoSolutions Limited, a company controlled by Dr Malcolm Butler, a director. In addition, the company purchased administrative services amounting to £4,500 (30 June 2016: £13,500; 31 December 2016: £18,000) from Langley Associates Limited, a company controlled by Mr Geoff Barnes, a director.  
 
 
 Baron Oil plc                                               
                                                             
                                                             
 Notes to the Interim Financial Information (continued)  
 
 
 12. Financial information                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
 The unaudited interim financial information for period ended 30 June 2017 do not constitute statutory financial statements within the meaning of Section 435 of the Companies Act 2006. The comparative figures for the year ended 31 December 2016 are extracted from the statutory financial statements which have been filed with the Registrar of Companies and which contain an unqualified audit report and did not contain statements under Section 498 to 502 of the Companies Act 2006.  
 Copies of this interim financial information document are available from the Company at its registered office at   Finsgate, 5-7 Cranwood Street, London EC1V 9EE. The interim financial information document will also be available on the Company's website www.goldoilplc.com.                                                                                                                                                                                                                 
 
 
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