Nostrum Oil & Gas earnings fall on lower sales

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Nostrum Oil & Gas posted lower first-half earnings as its sales slipped.

Ebitda fell 2.7% to $110.2m in the six months through June, while revenue fell 9% to $174.2m.

The company did not appear to disclose any bottom-line profit figures.

'Financially the first half was strong with oil prices averaging $66.20 per barrel and this meant we continued to generate operating cashflow in excess of our target and remain on course to end the year with over $100m of cash,' chief executive Kai-Uwe Kessel said.

At 9:25am: (LON:NOG) Nostrum Oil Gas Plc share price was -1.25p at 36.25p