StockMarketWire.com - Energy development and production company Independent Oil and Gas reported narrower losses on lower costs.

For the six months ended 30 June 2020, pre-tax losses narrowed to £3.6m from £4.6m on-year.

Net administration expenses grew to £1.5m from £0.7m, but finance expenses fell to £1.1m from £2.5m.

'We are overseeing a rapid transformation in our business with several exciting milestones to come on the path to first gas next year, including the start of development drilling and Southwark and Blythe platform installation,' the company said.

'Our extensive technical and portfolio development work aimed at incremental opportunities in the wider Thames Pipeline catchment area should also start to bear fruit,' it added.


At 8:45am: [LON:IOG] Independent Oil Gas PLC share price was 0p at 14.25p



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