San Leon looks forward to successful 2013 after full year profits fall

28th Jun 2013 12:49

San Leon Energy struck an upbeat tone on its outlook for 2013 as it reported a drop in full year profits. The oil and gas explorer reported revenues rose to €1.37m in 2012 from €1.04m, but pre-tax profits fell to €0.47m from €15.6m. Its results in 2011 were boosted by a €22m gain from the sale of a 30% stake in its license in Barryroe, an oil and gas field off the coast of Ireland. The company, which completed its merger with fellow European explorer Aurelian in January, said it was looking forward to a successful 2013.Chairman Oisin Fanning said: "The next twelve months will be the most important in the company's history as we test our major plays and success in any of these projects could prove transformational for the company."Shares in San Leon were don 0.04p at 5.35p at 15:05.TB