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:
- 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.