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Pin to quick picksEcho Energy Share News (ECHO)

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EARNINGS SUMMARY: Echo Energy, Enwell Energy, Sivota revenue rises

Fri, 30th Sep 2022 22:02

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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Sivota PLC - investment vehicle focused on later-stage, Israeli technology firms - Pretax loss widens to GBP1.8 million in the first half of 2022 from GBP62,000 a year before, as administrative expenses jump to GBP1.1 million from GBP65,000. Records revenue of GBP1.1 million, up from nothing. Attributes revenue to the acquisition of Apester.

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Ariana Resources PLC - exploration firm with interests in Turkey, Cyprus and Kosovo - For the first half of 2022, pretax profit falls to GBP2.9 million from GBP7.1 million. Attributes this to a profit on restructuring in the prior period of GBP6.4 million. "We look forward to providing further updates from our exciting pipeline of projects and investments, representing a full spectrum of opportunities across commodities and jurisdictions, yet maintaining a continued focus on advanced projects in gold and copper, particularly in south-eastern Europe," Managing Director Kerim Sener comments.

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Tower Resources PLC - Africa-focused oil and gas company - Pretax loss for the first half of 2022 widens to USD522,127 from USD39,458 a year before. Records no revenue, unchanged from a year before. Total administrative expenses swing to a loss of USD520,416 from a profit of USD90,449. "We are continuing to make progress in Cameroon and Namibia; and despite the legal issues Shell has faced in South Africa we are confident that we can still move forward there, albeit with caution. We want to drill as soon as we can in Cameroon in particular, and this continues to be our immediate priority," Chair and Chief Executive Jeremy Asher states.

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Crystal Amber Fund Ltd - Guernsey-registered fund - Net asset value per share stands at 145.03 pence at 30 June, up versus 143.19 pence as at December 31, 2021. Records a total NAV return of 8%. Explains that it continued to optimise outcomes for its portfolio companies.

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Enwell Energy PLC - London-based oil and gas company - Pretax profit in the half-year to June 30 soars to USD48.9 million from USD18.1 million Revenue jumps to USD77.2 million versus USD41.1 million. Credits this to "significantly" higher gas prices offset by lower production volumes. Cautions about the impact of the conflict in Ukraine on its business.

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Echo Energy PLC - London-based energy company focused on Latin America - Pretax loss in the first half widens to USD2.0 million from USD1.3 million. Cost of sales rises to USD7.3 million from USD5.5 million. Exploration expenses grow to USD143,545 from USD45,807. Revenue increases 6% to USD6.2 million from USD5.9 million, as production over the period has continued to remain strong. Secures new gas contracts for 2022-2023 significantly above the 2021 annual pricing.

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By Abby Amoakuh; abbyamoakuh@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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6 Mar 2020 10:32

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19 Feb 2020 15:14

Echo Energy shares slide on 'disappointing' gas discovery

(Sharecast News) - Latin America-focussed upstream oil and gas company Echo Energy announced a non-commercial gas discovery at the Campo La Mata Exploration well in the Tapi Aike licence on Wednesday, following completion of testing on the lower secondary target, being 'D3' or 'Anita', and the primary target, being 'Magallenes 20' or 'Lobe C'.

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Echo Energy Shares Fall After Non-Commerial Gas Discovery At Tapi Aike

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Ascent Shares Dive Amid Board Changes, Share Reorganisation

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5 Feb 2020 15:34

Echo Energy positive on production at Santa Cruz Sur

(Sharecast News) - Latin America-focussed upstream oil and gas company Echo Energy updated the market on production from its recently-acquired 70% non-operated working interest in the Santa Cruz Sur assets, onshore Argentina on Wednesday.

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5 Feb 2020 13:48

Echo Energy Reports Production From New Santa Cruz Sur Asset

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31 Jan 2020 11:33

Echo Energy Hopeful On Initial Results From Argentinian Well Drilling

Echo Energy Hopeful On Initial Results From Argentinian Well Drilling

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20 Jan 2020 11:56

Echo Energy "Encouraged" By Argentina Well Drilling Reports

Echo Energy "Encouraged" By Argentina Well Drilling Reports

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6 Jan 2020 10:59

Echo Energy Spuds Campo Limite Exploration Well In Argentina

Echo Energy Spuds Campo Limite Exploration Well In Argentina

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19 Dec 2019 13:10

Echo Energy Begins Moving Drilling Rig To Palermo Aike In Argentina

Echo Energy Begins Moving Drilling Rig To Palermo Aike In Argentina

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12 Dec 2019 14:53

Echo Energy To Proceed With Testing Tapi Aike Well Amid Positive Data

Echo Energy To Proceed With Testing Tapi Aike Well Amid Positive Data

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5 Dec 2019 13:27

Regency Mines To Raise GBP831,000, Carry Out Share Consolidation

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2 Dec 2019 17:01

Echo Energy Integration Of Santa Cruz Sur Assets Going Well

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21 Nov 2019 13:47

Echo Energy Commences Drilling At Tapi Aike License In Argentina

Echo Energy Commences Drilling At Tapi Aike License In Argentina

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7 Nov 2019 13:48

Echo Energy Clears Hurdles For Santa Cruz Sur Acquisition

Echo Energy Clears Hurdles For Santa Cruz Sur Acquisition

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