Ascent Resources posts a pre-tax loss of £1.3m for the six months to the end of June - down from £2.7m last time. The group said highlights in the period of the end of June include: Highlights: - Raised £1.5million in new equity through three placings. - Loan note conversions have reduced the cash owed on convertible loan notes by £2.8 million in six months. - Administrative expenses reduced by (33%) to £676k compared with the same period in 2015. - Preliminary approach from Cadogan Petroleum plc highlighting the potential value of the asset. - Colin Hutchinson appointed as permanent CEO.
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