Brief: North Energy Q1 Loss Widens To NOK 55.0 Mln

North Energy ASA

28/05/2020 06:53

May 28 (Reuters) - North Energy ASA  NORTH.OL :
    * LOSS OF NOK 55.0 MILLION IN Q1 OF 2020 COMPARED TO A LOSS
OF NOK
2.8 MILLION IN SAME QUARTER LAST YEAR
    * NEGATIVE RESULT THIS QUARTER IS DRIVEN BY SIGNIFICANT
DECREASE
IN MARKET VALUE OF INVESTMENTS DUE TO DROP IN OIL PRICES AND
COVID-19 PANDEMIC
    * COMPANY'S CASH POSITION AS PER Q1 2020 IS REPORTED NOK
133.6
MILLION
    * TOTAL INVESTMENT PORTFOLIO IS PER END OF Q1 NOK 115.8
MILLION,
MEASURED AT MARKET VALUE

Source text for Eikon:  ID:nNDL3qy3Bm 
Further company coverage:  NORTH.OL 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 772 0920;))