Client NewsCurzon Energy Plc: Unaudited Half-Year Results for the Six Months Ended 30 June 2021
Curzon Energy Plc (LON:CZN) the London Stock Exchange listed company, announces its unaudited interim results for the six months to 30 June 2021.
I am pleased to present the interim report for the Company, covering its results for the six months ended 30 June 2021.
The Company incurred a loss of US$411,907 in the period. A majority of this loss comprised expenditures in relation to the maintenance of a commercial position at its Coos Bay Energy LLC (“Coos Bay”) coalbed methane (“CBM”) project as well as corporate costs and overheads associated with the UK listing. Additional expenditures were incurred conducting due diligence on a potential transaction with Poseidon Enhanced Technologies (“PET”).
The Company had cash of US$113,282 as at 30 June 2021 (US$146,549 as at 30 June 2020). Basic loss per share of US$ 0.003 (period ended 30 June 2020: US$ 0.004).
Given the nature of the business and its present development strategy, it is unlikely that the Board will recommend a dividend in the foreseeable future.
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