Argos Resources Ltd - Falkland-Islands based oil and gas exploration company focused on the North Falkland Basin - For the first half of 2022, total comprehensive loss narrows to USD105,000 from USD200,000 the same period a year before, as a result of a cut in administrative costs to USD95,000 from USD205,000.
Looking ahead, company's PL001 licence will expire at the end of December, and Argos has submitted an application to extend the licence by another two years for new technical work and the marketing of results.
To fund the extension, Argos seeks to raise significant further funds.
Current stock price: 1.50 pence, down 12% on Monday
12-month change: down 25%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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