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Friday, 21 November, 2008, 20:10 GMT | more >>

Indago claws its way back to profit



By Upstream staff 

Indago Petroleum has clawed its way back into the black in the first half of the year, adding that work on the Al Jariya-1 well, on the Jebel Hafit prospect in Oman, is moving ahead more slowly than expected.

The company posted a pretax profit of $294,528 in the first half of this year, up from the $456,000 loss booked in the same period last year.

The company's revenue fell to $3.77 million in the period, down from $6.65 million in the year-ago period.

Earlier this year, Indago sold all a package of assets to RAK Petroleum for $382 million.


Friday, 21 September, 2007, 08:12 GMT  | last updated: Friday, 21 September, 2007, 10:03 GMT

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