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Simba Energy cuts operational losses by 26%

Tuesday, November 8, 2016 10:49
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(Before It's News)

Simba Energy Inc (CVE:SMB) cut its operational loss by 26% in the year ended June 30 from a year earlier, the company said as it announced its full-year results.

The loss shrank to C$1.12mln from C$1.52mln in June 2015.

The company’s assets also swelled C$9.96mln from C$8.9mln a year earlier.

The comprehensive loss for the year was stable at C$2.22mln from C$2.2mln in 2015.

SMB’s strategy is to focus on oil and gas opportunities in unexplored onshore frontier basins of Africa.

Story by ProactiveInvestors

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