30th May 2022 13:08
Rockhopper Exploration PLC - Salisbury, England-based oil & gas exploration and production company - Pretax loss narrows in 2021 to USD7.9 million from USD236.4 million, due to non-recurring non-cash impairments associated with previously incurred exploration costs in the North Falkland Basin last year.
Revenue plunges to USD839,000 from USD2.8 million, due to the completion of the disposal of it's Egypt portfolio in February 2020. It made up made USD2.1 million of revenue in 2020. Looking ahead, it will align working interests with Navitas Petroleum LP across North Falkland Basin licenses.
The companies will jointly develop and agree a technical and financing plan to enable the development of the Sea Lion project to achieve first oil on a lower cost and expedited basis post sanction.
Current stock price: 7.70 pence
12-month change: down 18%
By Abby Amoakuh; [email protected]
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