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Ukraine-focused Regal Petroleum booked a 71% fall in first-half profit, owing to it enjoying a one-off gain from an impairment reversal in the previous year.
Pre-tax profit for the six months through June fell to $13.3m, down from $45.0m on-year.
Revene rose 27% to $31.3m, and gross profit rose to $13.9m, up from $11.9m
Aggregate average daily production rose to 4,192 barrels of oil per day, up about 50% on-year.
'Whilst there are still challenges in the business environment in Ukraine, the situation is improving gradually,' the company said.
'After the steady operational performance during the first half of 2019, we are eagerly awaiting the results of the MEX-119 development well and the hydraulic fracturing operations on the MEX-120 well, which are expected in the near future.'
'We are also looking forward to achieving further successes in the development activities planned for the remainder of 2019 and delivering a steadily increasing production and revenue stream in the future.'