Nu-Oil and Gas plc reported unaudited consolidated earnings results for the six months ended Dec. 31, 2015. For the period, the company reported loss from operations of £472,000 compared to £1,083,000 a year ago.

Loss before tax was £472,000 compared to £1,083,000 a year ago. Loss for the year was £472,000 or 0.2 pence per basic and diluted share compared to £1,083,000 or 0.6 pence per basic and diluted share a year ago. This is primarily due to the company reducing its overheads as it resolves the financial and corporate structure required to implement its strategy.

Net cash used in operating activities was £354,000 compared to £203,000 a year ago. The company did not generate any revenue during the period compared to £27,000 a year ago.