EnCore Considers Spin-Off Amid Poor Financial Results

UK-listed independent EnCore Oil announced on March 8 that it posted a pre-tax loss of GBP3.8mn (US$6.2mn) in H210, down from a pre-tax profit of GBP15.5mn (US$25.1mn) in H209. In addition to detailing its interim financial results for 2010, EnCore said that it was considering spinning off some of its exploration assets into a new company in order to focus on developing its core UK North Sea assets.

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