Egdon Resources rises on robust FY production
08/11/2022 12:11
** Shares of UK-based exploration and production company
Egdon Resources EGRE.L up as much as 9.1% at 3.727p
** Co reports FY net production increased by 160% to 84,894
barrels of oil equivalent
** EGRE adds production in its Wressle oilfield exceeds its
FY forecast expectations with average gross production of 656
barrels of oil per day
** Co posts a 530% rise to 6.91 mln stg ($7.92 million) in
its FY oil and gas revenue on the back of robust production and
increase in commodity prices
** Co reports FY core profit of 4.67 mln stg vs loss of
720,000 stg last year
** Including session gains, stock up 134% YTD
($1 = 0.8726 pounds)
(Reporting by Sinchita Mitra in Bengaluru)
((Sinchita.mitra@thomsonreuters.com))