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Clontarf Energy PLC - Dublin-headquartered oil & gas exploration and production company focused on Ghana, Bolivia and Australia - Reports widened loss in 2021. Annual loss widens to £463,501 from £361,308 in 2020. Administrative costs increased to £401,427 from £361,308. 2021 includes an impairment cost of £62,074 due to an expenditure in Bolivia. Firm does not make any revenue as ‘it relies on raising capital from the public market,’ it explains.
‘Though the Sasanof-1 well did not intersect hydrocarbons, we retain our strategy to seek out gas and liquids in Western Australia,’ Clontarf adds, referring to abandonment of the Sasanof-1 well it announced in June as it showed no commercial hydrocarbons.
‘As expected, demand for lithium, specifications and lithium prices have surged. In Bolivia we hope to conclude a technical cooperation agreement on a systematic mapping exercise shortly’ company says.
Current stock price: 0.063 pence, down 6.1% on Wednesday
12-month change: down 81%
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