Business
Final results for the year to 31 July 2024
Final results for the year to 31 July 2024.
About this update from Europa Oil & Gas (holdings) Plc
[{"type":"text","content":"\n\n Europa Oil & Gas (Holdings) plc / Index: AIM / Epic: EOG / Sector: Oil & Gas\n \n28 October 2024 \n \nEuropa Oil & Gas (Holdings) plc\n(\"Europa\" or the \"Company\")\n \n Final results for the year to 31 July 2024\n \nEuropa Oil & Gas (Holdings) plc, the AIM traded West Africa, UK and Ireland focused oil and gas exploration, development and production company, announces its final audited results for the 12-month period ended 31 July 2024.\n \nThe full Annual Report and Accounts will be available shortly on the Company's website at www.europaoil.com and will be mailed to those shareholders who have requested a paper copy.\n \nFinancial performance\n· Revenue declined 46% to £3.6 million, reflecting lower oil production (which included a three- month shut in period at Wressle) and lower realised oil prices (2023: £6.7 million)\n· Gross profit of £0.3 million (2023: £3.4 million)\n· Pre-tax loss of £6.8 million after non-cash exploration impairment loss of £5.0 million (2023: pre-tax loss of £0.9 million after non-cash impairment loss of £1.7 million)\n· Net cash used in operating activities £0.6 million (2023: £2.8 million net cash generated by operations)\n· Cash balance at 31 July 2024: £1.5 million (2023: £5.2 million)\n \nOperational highlights - Building a balanced portfolio of exploration...