LONDON (Alliance News) - Mayan Energy Ltd said Friday its annual loss narrowed despite recording a drop in revenue.
For 2017, the oil & gas company posted pretax loss of USD3.8 million compared to USD7.1 million in 2016.
The company reduced its operating loss to USD3.7 million from USD7.0 million year-on-year.
Revenue dropped to USD30,000 from USD270,000 year-on-year.
"We have an excellent platform for future growth and as a result, I firmly believe that Mayan is well on the way to becoming the highly cash flow generative oil and gas company we set out to build," Non-Executive Chairman Charlie Wood said.
Mayan shares closed up 5.3% at 0.60 pence.
