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Star Phoenix Group Ltd - oil and gas company focused in Trinidad and Indonesia - Delays the publications of its results for the six months to December 31 due to Covid. Company now intends to publish its first half results by April 30. Star Phoenix anticipates a $520,000 loss in the half, narrowing from a loss of $2.3 million the previous year. This, the company explains, was driven largely by the disruption caused by Covid-19, minimal incomes from rig sales and lower demand for drilling services in Trinidad.
Star Phoenix continues to pursue the money owed to it by LandOcean Energy Service Co Ltd. A court trial regarding the money is scheduled in the second quarter of 2022. Adds it is confident money will be received.
Current stock price: 1.03 pence, down 8.4% in London
12-month change: down 38%
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