Mosman Oil & Gas Ltd - New South Wales, Australia-based exploration, development and production company - Reports that pretax loss in the year to June 30 narrowed to AUD1.4 million, about USD1.0 million, from AUD4.8 million the year before. This is due to impairment charges of AUD4.1 million in the past year that did not occur in financial 2021.
Full-year revenue amounted to AUD816,695, down 46% from AUD1.5 million the year prior. Explains that some of its suppliers and consultants have been hit by the pandemic, leading to slowed progress in its development.
Affirms it is determined and focused on delivering a better performance in the year ahead.
Says its confidence is reaffirmed by a 77% increase in production to 110 barrels of oil equivalent per day in the first quarter ended September 30, as a result of its recent Nadsoilco LLC and Falcon 1 acquisitions.
Current stock price: 0.085 pence
Year-to-date change: down 43%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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Mosman Oil Gas (MSMN)