Europa Oil & Gas (Holdings) (GB:EOG) has released an update.
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Europa Oil & Gas (Holdings) reports a drop in H1 2024 revenue to £1.4 million from £3.7 million in H1 2023 and a pre-tax loss of £1.0 million, although maintaining a strong cash balance of £3.8 million. The company made a strategic acquisition of a 42.9% stake in Antler, gaining an 80% interest in the promising EG-08 offshore license in Equatorial Guinea with drill-ready prospects. Additionally, Europa continues to advance its UK and Ireland portfolio, including the Wressle field which remains cash generative despite a temporary shutdown.
For further insights into GB:EOG stock, check out TipRanks’ Stock Analysis page.
