- UK and Indonesia focused oil company Andalas Energy and Power posted a narrower first-half loss as it cut back on expenses.

Pre-tax losses for the six months through October amounted to $0.53m, compared to losses of $3.93m on-year.

The company posted no revenue during the period.

'The board believes the company is well positioned to pursue new E&P opportunities,' chairman Robert Arnott said.

'In the meantime, it will seek opportunities to further its existing assets.'

At 1:27pm: [LON:ADL] Andalas Energy Power PLC share price was -0.04p at 0.12p

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