- AIM-listed US oil and gas company Zephyr Energy is targeting acquisitions and partnerships to boost its growth, according to its CEO.

In the company's annual results statement, Zephyr reported an operating profit before tax of $906,000 for the first six months of 2020, which compared to an $826,000 loss before tax in H1 2019.

The profit was primarily the result of unrealised foreign exchange differences from the restatement of the company's loans to its subsidiaries.

CEO Colin Harrington said: "Over the coming months, we expect to see further exciting developments on our existing project in the Paradox Basin, Utah, as well as the expansion of the group's asset portfolio through acquisitions or partnerships."

At 8:59am: [LON:ZPHR] share price was +0.05p at 0.83p

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