RE: Quarterly results27 Sep 2018 08:09
Half-yearly results for the six months ended 30 June 2018
Frontera Resources Corporation (AIM: FRR), the European focused oil and gas exploration and production company, today announces its financial results for the six months ended 30 June 2018.
Highlights
- Revenues from crude oil and gas sales totaled $1.8 million.
- Net loss of $7.0 million, or $0.0005 per share on a fully diluted basis.
Zaza Mamulaishvili, President and Chief Executive Officer, commented:
"Significant reduction of our debt in 2017 and other cost saving measures on the operations side in the first half of 2018 helped the Company to reduce year on year loss by US $4.4 million. The Company is continuing the execution of its cost optimisation programmes and is further advancing the efforts to clean the balance sheet to strengthen its financial health to be better positioned for implementation of current and future operational plans."