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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