Prospex Oil and Gas' interim loss narrows

16th Sep 2015 12:45

(ShareCast News) - Prospex Oil and Gas posted a narrower interim pre-tax loss and said it remained open to explore opportunities.In the six months to 30 June, the London-listed company reported a pre-tax loss of £105,291, significantly narrower than the £337,605 loss it posted in the corresponding period in 2014.Prospex, which does not generate any revenue, attributed the reduction in pre-tax losses to a £152,361 gain it made from restructuring operations.During the first half, the group said it underwent "significant changes" after in April shareholders gave the green light to the proposed restructuring plans, which saw the company change name from Premier Gold Resources and appoint a whole new board.The group, which sold its wholly-owned subsidiary Central Asia Resource, said it has been "very active in reviewing investment opportunities" but warned "extremely volatile" stock markets and energy prices have added a "significant amount of complexity to the work of the team".Prospex shares were down 6.80% to 2.40p at 1441 BST on Wednesday.