H1 results: • Net loss of $500m, with a $231m loss on de-recognition of the shares of Vedanta Limited sold by the India Income Tax Department and a $308m loss on the valuation of Vedanta shares. • Catcher production averaged 27kboed (gross) in H1. • Kraken production averaged 31kboed (gross) in H1, with unplanned production downtime. • Production outlook for H2 has been narrowed down to a targeted production of 20-22kboed vs 20-25kboed.
11 Sep 2018
Soft production, investments drag on cash position
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Soft production, investments drag on cash position
Capricorn Energy PLC (CNE:LON) | 168 -1 (-0.4%) | Mkt Cap: 154.4m
- Published:
11 Sep 2018 -
Author:
Kevin VO -
Pages:
3
H1 results: • Net loss of $500m, with a $231m loss on de-recognition of the shares of Vedanta Limited sold by the India Income Tax Department and a $308m loss on the valuation of Vedanta shares. • Catcher production averaged 27kboed (gross) in H1. • Kraken production averaged 31kboed (gross) in H1, with unplanned production downtime. • Production outlook for H2 has been narrowed down to a targeted production of 20-22kboed vs 20-25kboed.