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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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2 Nov 2018 11:40

Echo Energy Appoints Gavin Graham As Non-Executive Director

LONDON (Alliance News) - Echo Energy PLC said Friday it appointed Gavin Graham as independent non-executive director of the company with immediate effect.The company said that Graham has 40

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22 Oct 2018 11:14

Echo Energy Multiplies Production At Canadon Salto Wells

LONDON (Alliance News) - Echo Energy PLC said Monday it completed work on four wells in the Canadon Salto Field in Argentina as part of its plan to boost production.The Latin American oil 5

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15 Oct 2018 11:28

Echo Energy Signs Technical Evaluation Agreement Over Rio Salado Block

LONDON (Alliance News) - Latin America-focused oil & gas company Echo Energy PLC said on Monday it has signed a technical evaluation agreement with Yacimientos Petroliferos Fiscales Bolivianos

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3 Oct 2018 11:03

Echo Energy Connects First Well For Production At Canadon Salto Field

LONDON (Alliance News) - Echo Energy PLC on Wednesday said a series of pulling jobs have now been completed at four oil wells on the Canadon Salto field, which were aimed at increasing field oil

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2 Oct 2018 11:31

Echo Energy Appoints Finance Boss Martin Hull To Board

LONDON (Alliance News) - Oil & gas firm Echo Energy PLC on Tuesday said it appointed its Chief Financial Officer Martin Hull to the board of directors with immediate effect.Hull was as

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12 Sep 2018 11:48

Echo Energy Interim Loss Widens On Higher Financial Costs

LONDON (Alliance News) - Echo Energy PLC said Wednesday that its loss for the first half of its financial year increased as financial costs spiked.For the six months to June 30, the company

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7 Sep 2018 10:28

Echo Energy To Acquire 3D Seismic Data For Argentinian Assets

LONDON (Alliance News) - Latin American-focused oil and gas company Echo Energy PLC said on Friday it has agreed to acquire 3D seismic over several leads on its Tapi Aike, Fraccion C and Fraccion

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7 Sep 2018 07:38

Echo Energy teams up with Argentinian contractor for 3D seismic programme

(Sharecast News) - Echo Energy has teamed up with an Argentinian contractor for a 3D seismic programme on its assets in the South American nation, starting with its "high impact, frontier scale" Tapi Aike exploration area.

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31 Aug 2018 12:48

Echo Energy To Receive Argentine Payments In Dollars; Signs In Bolivia

LONDON (Alliance News) - Echo Energy PLC said Friday it will receive US dollars for gas sales in Argentina instead of Argentine pesos, as it also signed a letter of intent to sign a new one-year a

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28 Aug 2018 10:58

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LONDON (Alliance News) - Shares plunged in Echo Energy PLC on Tuesday as it said following the completion of the CSo-2001(d) well the gas within was revealed to be "insufficient" to to D

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