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Natural resources investment group Solo Oil booked a first-half loss, as expense offset proceeds flowing from its shares held for trading.
Pre-tax losses for the six months through June amounted to £0.80, compared to losses of £0.51m on-year.
During the period, Solo Oil sold its 30% interest in an oil licence on the Isle of Wight.
The company had cash at the end of of June of £3.0m.
'The company has made further significant steps in the first half towards its strategic goals with the additional rationalisation of its portfolio and strengthening of the management team,' executive chairman Alastair Ferguson said.
'The work carried out to date in monetising the company's non-core assets provides us with a strong balance sheet enabling the board and management a platform to execute a strategic vision focused on returning value for shareholders.'