Nordic Business Report-May 15, 2006-CanArgo Energy Corporation reports 3-month pre-tax loss of USD5.5m
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The Norwegian oil and gas exploration and production company CanArgo Energy Corporation reported on Monday (15 May) a pre-tax loss of USD5.5m on revenue of USD0.7m for the financial quarter January-March 2006.
Pre-tax loss for the three-month period increased from the loss of USD2.9m in the corresponding period in 2005, while revenue increased from USD0.6m.
One US dollar (USD) is worth approximately 0.56 British pounds (GBP).
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