The Oslo-listed company reported a net loss of Nkr217 million ($36.5 million), compared with Nkr42 million a year ago, as it shelled out Nkr417 million for an abortive drilling effort at two dry wells – Clapton and Storebjorn – while a third just completed at Ulvetanna was also a duster.
It follows first-quarter drilling expenditure of Nkr595 million, taking total exploration costs to more than Nkr1 billion in the first six months, compared with Nkr787 in the same period last year.
Det
