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    CBM Operations Push Sino Oil and Gas Holdings into Profit Zone

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Summary

Sino Oil and Gas Holdings expects net profit for the six months ended 30 June 2014 compared with a net loss for the corresponding period in 2013.

by: shardul

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Asia/Oceania

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CBM Operations Push Sino Oil and Gas Holdings into Profit Zone

Sino Oil and Gas Holdings expects a net profit for the six months ended 30 June 2014 compared with a net loss for the corresponding period in 2013.

According to the company, this is mainly attributable to the increase in other revenue generated from the coal bed methane operation by approximately 110% compared with that of the corresponding period last year.

The company is still in the process of preparing the interim results for the period, which is expected to be released next month.

Sino Oil and Gas Holdings focuses on oil, coal bed methane (CBM) and conventional natural gas. The Group currently operates a CBM project in Sanjiao Block in the Erdos Basin and two oil and gas fields in Shaanxi of China.

 

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