Columbus Energy Resources (CERP LN) has announced full year results for 2018 demonstrating operational progress through improved financial results. Revenue of £7.6m was up 58% YoY as higher Trinidad production of 541bopd, up 47% YoY, significantly offset the closure of the Spanish operations. This was, however, complicated by the range bound oil price environment around the Special Petroleum Tax (SPT) threshold meaning royalties paid by CERP increased 88% YoY to £2.2m with revenue
03 Jun 2019
VSA Morning Flow Test
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Columbus Energy Resources (CERP:LON) | 0 0 0.0%
- Published:
03 Jun 2019 -
Author:
VSA Research Team -
Pages:
4
Columbus Energy Resources (CERP LN) has announced full year results for 2018 demonstrating operational progress through improved financial results. Revenue of £7.6m was up 58% YoY as higher Trinidad production of 541bopd, up 47% YoY, significantly offset the closure of the Spanish operations. This was, however, complicated by the range bound oil price environment around the Special Petroleum Tax (SPT) threshold meaning royalties paid by CERP increased 88% YoY to £2.2m with revenue