Large deficits send Atlantic Petroleum's equity plunging

The company's net equity has plunged to a negative EUR 20.1 million after a huge deficit.

Photo: Atlantic petroleum / PR

Atlantic Petroleum delivered yet another huge deficit in 2017, sending the company's equity plunging into an even greater deficit of DKK 150 million (EUR 20.1 million), according to a brief press release published ahead of the annual report due April 6.

The result after tax arrived at a DKK 67.7 million net deficit after a DKK 58.1 million loss in the fourth quarter. The figures are attributed to the company's impairments of exploration activities, reduced down to zero.

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