- Exploration and production company Egdon Resources narrowed its annual losses as cost cuts offset a fall in revenue.

For the six months ended 31 January 2021, pre-tax losses narrowed to £1.04 million from £3.24 million year-on-year as revenue fell to £0.424 million from £0.675 million.

The company attributed the fall in revenue to declining production and weaker prices.

Looking ahead, the company expects production to fall to 110-to-130 boepd from 145 boepd.

At 9:07am: [LON:EDR] Egdon Resources PLC share price was 0p at 1.65p

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