Loss making, profits shrinking, in debt, loads of liabilities27 Sep 2019 08:59
Net loss of US$5.2 million (2018: net profit of US$1.8 million);
Cash of US$8.3 million,and borrowings of US$13.9 million, as at 31 August 2019.
Various payments due in the period to January 2020 in respect of OPL 310 to operator Optimum in accordance with the agreement executed in August 2019, amounting to approximately US$20 million (which includes the US$7.5 million due to the Nigerian Ministry of Petroleum Resources by 30 October 2019 in respect of the licence extension).
It just does not up.