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Baron Oil PLC - oil and gas exploration company with assets in the UK, Peru and Timor-Leste - Pretax loss in the first half widens to £419,000 from £117,000 a year before. Records a one-time gain on disposal of £359,000 in the prior period. Reports no revenue, unchanged from a year prior.
‘We believe that Baron is in a strong position to deliver value to shareholders as our two major projects move through key evaluation points at the same time as the oil and gas sector tailwinds of energy security, structural imbalances in liquefied natural gas, and historically high gas prices are firmly with us,’ Chair John Wakefield comments.
‘Our strategy remains that of seeking and working up high potential impact exploration and appraisal opportunities at significant equity in proven hydrocarbon basins.’
Current stock price: 0.078p
12-month change: up 11%
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