UK's Borders & Southern H1 operating loss widens on higher costs
UK's Borders & Southern H1 operating loss widens on higher costs
Overview
UK oil & gas explorer reported unaudited H1 operating loss widened yr/yr
Company's cash balance at end-June fell to $1.02 mln from $3.2 mln a year earlier
Outlook
Company expects licence extensions to be signed before year end
Borders and Southern continues to engage with multiple parties in farm-out negotiations
Result Drivers
ADMINISTRATIVE EXPENSES - Higher administrative costs contributed to increased H1 operating loss
FARM-OUT TALKS - Co said it remains active in marketing licences and negotiating with potential farm-in partners, with significant progress reported
EXPLORATION INVESTMENT - Continued capitalisation of exploration and evaluation costs added $516,000 to intangible assets in H1
Company press release: ID:nRSU4536Va
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Net Loss |
| $726,000 |
|
Reuters Recommended Reads
Sept 18 - Tata Group's boardroom clash rocks India's most storied conglomerate
Sept 18 - China's Da Ming H1 profit rises on lower costs
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)