GeoGlobal Resources Inc. (GGR), a Canada based oil and gas company, reported Friday a wider loss in its second quarter, as one-time impaiment charges more than offset a rise in revenues.
The company reported second quarter net loss of $1.85 million or a loss of $0.02 per share, in comparison to a loss of $1.65 million or a loss of $0.02 per share for the year-ago quarter.
For the quarter, the company incurred $1.04 million of impairment of oil and gas properties.
Total revenues for the quarter were $152,151, rising from $117,902 in the same quarter last year.
GeoGlobal shares closed at $0.17 on Friday, at the Nasdaq.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.