New Zealand Oil & Gas Limited (NZX:NZO) declared its financial report for FY20, with the following highlights:
- 2P (proved and probable) reserves were upgraded across the portfolio.
- A net loss of NZD 0.8 million, up from NZD 2.9 million in FY19
- The NPAT attributable to NZO shareholders was a loss of NZD 1.4 million. In the previous year, it was NZD 7.5 million.
- Revenue was NZD 37.3 million, down from NZD 43.3 million for the year before.
- The cash balance grew to NZD 110.8 million on 30 June 2020, up from NZD 105.6 million.