RE: RNS27 Sep 2019 08:13
We are executing on the strategy we laid out last year and are demonstrating that our new team and focused execution provide the platform that will generate significant growth. In less than a year, we refocused the Company, settled legacy portfolio issues, increased production from our existing assets and opened up additional revenue streams, in particular through the establishment of the services division which today has a well count of c.1,800. The oilfield services division moved quickly to positive cashflow with September turnover at c. $20,000. We expect to double monthly turnover utilising the same resources in H1 2020 as the testing regime ramps up across the well portfolio. We will continue to grow the business through further well compliance contracts and expanding testing & diagnostic services.