- Nautilus Marine Services booked an annual loss after it decided to shift its focus to offshore services, away from oil and gas production in Latin America.

Net losses for the year through December amounted to $9.1m, compared to losses of $9.0m on-year.

The company did not book any revenue for the year.

'The group spent substantial time during the year seeking and evaluating opportunities to acquire or otherwise invest in offshore service companies as well as related offshore service assets and technologies,' Nautilus said.

'The offshore industry conditions have made it increasingly difficult for the group to locate investment opportunities at attractive pricing.'

'As a result, the group began to investigate expanded energy investment strategies during the second half of the year.'

Nautilus also announced that it had decided to sell its two remaining oil and gas fields in Colombia, having received 'increasingly attractive offers' from potential buyers.

At 1:57pm: [LON:NAUT] Nautilus Marine Services Plc share price was -1.25p at 5.85p

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