North Sea field developer Antrim Energy finished the first half of the year with a Cdn. $4.37 m net loss, and $3.56 m of net losses for the second quarter.
But its expenditure in the first half was Cdn. $52.25 m and $35.50 m in the second quarter, reflecting the spending on its current UK North Sea field exploration and appraisal programmes, Causeway, Fyne and Dandy.
Last month Antrim completed Cdn. $50 m of equity funding and a further US $50 loan to provide working capital for its ongoing field development work.