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Europa Oil & Gas Holdings PLC - UK and Ireland-focused oil and gas exploration, development, and production company - In the year ended July 31, reports a pretax loss of £884,000, compared to a profit of £1.4 million the year prior. Revenue rises to £6.7 million from £6.6 million year-on-year. Notes the stable revenue figure was despite a lower oil price and weaker pound during the period. Records a £1.7 million exploration write-off in the year, as well as significantly higher expenses. Administrative expenses jump to £1.9 million from £821,000, while finance expense climb to £717,000 from $238,000. More positively, company says production at Wressle, offshore UK, continues to exceed expectations. Averages 710 barrels of oil per day throughout the year, up from 597 bopd the year prior. Current stock price: 1.22 pence, up 8.7% in London on Monday 12-month change: up 3.6% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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