Argos Resources Announces 2022 Interim Financial Results

Source: www.gulfoilandgas.com 8/15/2022, Location: South America

Argos Resources Limited, the Falkland Islands based company focused on the North Falkland Basin, is pleased to announce its interim financial results for the six months ended 30 June 2022.

Highlights
US$105 thousand loss for the period (H1 2021: loss of US$200 thousand);
US$132 thousand cash reserves at 30 June 2022 (YE 2021: US$304 thousand);
The current Second Phase of the Licence was extended until December 2022;
A loan provided by the Chairman in June 2022 provides additional working capital and the Company plans to raise additional capital to support a further extension of the Licence beyond its current expiry date of 31 December 2022; and
Ownership changes in the adjacent Sea Lion oilfield and surging oil prices enhance outlook for the Company.


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