Atlantic Petroleum's net equity is negative DKK 75 million

After a profit of just one million DKK, equity in Atlantic Petroleum remains in the red with a negative DKK 75.3 million, according to the report from the company.

Photo: Ritzau Scanpix/Claus Bonnerup.

Atlantic Petroleum emerged from the second quarter with a profit of DKK 1.1 million after tax (EUR 150,000). Net equity, however, remains negative, shows the report. The small Faroese oil company is attempting to find its feet after several years of major economic difficulties and a divestment of the main assets.

Revenue in the period amounted to DKK 6.7 million, which stems from the May sale of Atlantic Petroleum's share in the Orlando oil field in the sea northeast of the UK.

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