StockMarketWire.com - oil and gas company IGas reported narrower first-half losses as revenue jumped following a jump in oil prices and cost cuts.

For the six months to 30 June 2021, pre-tax losses narrowed to £14.2 from £38.1 million last year, while revenue increased to £16.6 million from £10.5 million.

Net production averaged 2,005 boepd in H1 2021, up from 1,940 boepd last year.

'The increase in the oil price in recent months has been a welcome boost to revenue and cash generation and following the cost reduction exercises implemented last year, we have continued to tightly manage our finances,' the company said.




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