Clontarf Energy PLC - Dublin-headquartered oil & gas exploration and production company focused on Ghana, Bolivia and Australia - Reports widened loss in 2021. Annual loss widens to GBP463,501 from GBP361,308 in 2020. Administrative costs increased to GBP401,427 from GBP361,308. 2021 includes an impairment cost of GBP62,074 due to an expenditure in Bolivia. Firm does not make any revenue as "it relies on raising capital from the public market," it explains.
"Though the Sasanof-1 well did not intersect hydrocarbons, we retain our strategy to seek out gas and liquids in Western Australia," Clontarf adds, referring to abandonment of the Sasanof-1 well it announced in June as it showed no commercial hydrocarbons.
"As expected, demand for lithium, specifications and lithium prices have surged. In Bolivia we hope to conclude a technical cooperation agreement on a systematic mapping exercise shortly" company says.
Current stock price: 0.063 pence, down 6.1% on Wednesday
12-month change: down 81%
By Tom Budszus; tombudszus@alliancenews.com
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Clontarf (CLON)