Nu-Oil and Gas booked a first-half loss and said it would raise capital through a share issue.
Pre-tax losses for the six months through December amounted to £972k, compared to losses of £916k on-year.
The main area of expense had been the continued implementation of the company's marginal field strategy, Nu-Oil and Gas said.
The company said it had raised £0.25m by issuing new shares at the company at 0.9p each.
Funds would support general working capital requirements.
At 1:32pm: (LON:NUOG) Nuoil And Gas Plc share price was -0.24p at 0.34p