NZO Reports Double-Digit Decline in Operating Cashflow

  • Jul 31, 2020 NZST
  • Team Kalkine
NZO Reports Double-Digit Decline in Operating Cashflow

For the quarter ended 30 June 2020, New Zealand Oil & Gas Limited (NZX:NZO) reported a cash balance of $110.7 million, down from the previous quarter balance of $115.5 million.

Operating cash flow was down by 37% than the previous quarter, and administration costs were 14% lower than the previous quarter, due to low corporate activity as the covid-19 lockdown affected office overheads.

The company has decided to release its full-year financial results on 31st August 2020.

 


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