Circle Oil PLC (COP.LN), an international oil and gas exploration, development and production company, Monday posted a 10% rise in pretax profit during the half year-end, adding that it has tendered an additional 2D seismic survey for offshore Oman to delineate inshore exploration drilling targets.
Circle Oil PLC (COP.LN), an international oil and gas exploration,
development and production company, Monday posted a 10% rise in pretax profit
during the half year-end, adding that it has tendered an additional 2D seismic
survey for offshore
Oman
to
delineate inshore exploration drilling targets.
MAIN FACTS:
-The company recorded pretax profit of $14.7 million during the half year-ended
June 30, compared with $13.3 million a year-earlier.
-Group revenue $42.3 million versus $35.4 million.
-Operating profit $16.7 million versus $14.7 million.
-Net profit $14.7 million versus $13.3 million.
-Ebitda $25.2 million versus $18.8 million.
-Diluted earnings per share 2.37 cents versus 2.22 cents.
-Cash generated from operations after working capital changes $23.7 million
versus $14.1 million.
-Available cash at June 30, $23.5 million versus $12.2 million.
-To embark on exploration activity in
Morocco
and
Tunisia
which
has the potential to significantly enhance position in these countries.
-Circle Oil shares at 0738 GMT traded up 0.7%, at 18.0 pence, valuing the
company at GBP102.8 million.
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