Ophir not fazed by loss

Eirik Raude: the semi-submersible rig pictured here was used to drill Ophir Energy's Fortuna East-1 well in Equatorial Guinea and will now drill Fortuna West-1 before the company plans to farm-out its interest

Ocean Rig

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Danica Newnham

 29 August 2012 09:30 GMT

Ophir Energy has taken pride in its various achievements during the first half of the year, despite posting a net loss $24.4 million.

The London-listed company has attributed the loss for the first half of 2012 to additional costs due to Ophir’s listing and the associated regulatory and corporate costs.

This is compared to a profit of $6.1 million for the six month period ended 30 June 2011.

Ophir added that staff increases in the management team, technical areas and the general London office, as well as infrastructure costs relating to the growth of the London office, had also impacted the company’s results.

The African-focused company made two discoveries in the first half of the year in…

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