31st Mar 2016 15:38
LONDON (Alliance News) - Senterra Energy Ltd Thursday published its first set of financial results since listing on the London Stock Exchange in 2015, revealing it made a pretax loss.
The company listed on the Main Market of the London Stock Exchange back in November, when it raised GBP1.3 million through its initial public offering.
Senterra was formed to take control of or invest in businesses within the oil and gas sector favouring companies with existing production and revenues where there would be scope for growth and attractive returns for shareholders.
The company said it made a pretax loss of GBP142,410 in the period between June 5 and December 31, 2015, which was solely comprised of its administrative costs in the period. There are no comparative figures as the company was only incorporated on June 5.
Senterra is still conducting due diligence upon acquisition targets within the oil and gas sector and follow up on expressions of interest by other parties with opportunities outside that of the energy sector, it said.
In the meantime, the company plans to manage its cash balance of GBP1.1 million.
Senterra shares closed down 5.9% to 4.0 pence per share on Thursday.
By Joshua Warner; [email protected]; @JoshAlliance
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