UK-based Buccaneer Energy PLC (BUCE.L) reported Friday wider pre-tax loss in its first half as revenues were hit by lower oil prices, despite higher production. However, on a per share basis, loss was narrower than last year.
The company's pre-tax loss was $0.95 million, compared to a loss of $0.79 million a year ago.
On a per share basis, the company reported loss of 0.02 cents, compared to a loss of 0.08 cents last year.
Operating loss was $0.78 million, compared to a loss of $0.62 million a year ago.
The company's revenue declined to $0.89 million from $0.94 million a year earlier.
Total production for the period was 13,930 barrels oil, higher than 13,203 barrels oil last year. Meanwhile, average oil sales prices during the period fell to $63.81 per barrel from $74.45 per barrel a year ago.
On the London Stock Exchange, the stock was trading down 5.7%.
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