Nu-Oil and Gas plc reported audited consolidated earnings results for the year ended June 30, 2017. For the year, loss from operations was of £1,457,000 compared to £815,000 a year ago. Loss before tax was £1,671,000 compared to £816,000 a year ago. The main area of expense has been the continuing development of the foundations for the marginal field initiative. Management continued to significantly cut costs in western Newfoundland but increased its expenditure with respect to the implementation of the marginal field strategy. The loss included depreciation charges of £367,000 in the period relating to intangible assets. Operating loss in effect was £1,304,000. Loss for the year was £1,671,000 or 0.2 pence per basic and diluted share compared to £816,000 or 0.3 pence per basic and diluted share a year ago. Net cash used in operating activities was £2,346,000 compared to £436,000 a year ago.