Longboat Energy Plc (GB:LBE) has released an update.
Longboat Energy Plc, an E&P company with operations in Norway and Malaysia, reported lower than expected production levels in Norway, with operational issues causing delays and increased capital expenditures. Despite financial challenges, the company remains optimistic about the value of its joint venture and its Malaysian prospects, with plans for farm-outs and new developments. Longboat is committed to creating shareholder value through strategic cost reviews and market updates around its AGM.
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