StockMarketWire.com - Oil and gas produver Curzon Energy reported narrower losses in the first half of the year on lower costs.

For the six months to 30 June 2020, pre-tax losses narrowed to $367K from $584K on-year.

Administrative expenses fell to $287K from $571K.

The loss was driven by expenditures relating to the maintenance of the commercial potential of the company's Coos Bay project as well as corporate listing overheads in London.

'While the company believes the Coos Bay asset holds residual potential value, progressing it materially during the period has proven to be difficult in light of recent US natural gas markets and logistical restrictions associated with the COVID-19 pandemic, the company said.

'Due diligence efforts on the potential transaction with SSSIG have taken longer than expected to date, in part due to COVID-19 related delays and disruptions, however, all parties continue to work together constructively to provide the detail and data required to fully assess the opportunity presented,' it added.





Story provided by StockMarketWire.com