Heritage Oil widens pre-tax losses from continuing operations

FTSE 250-listed oil and gas exploration company Heritage Oil disappointed investors on Tuesday after posting wider full year pre-tax losses from continuing operations for the full year ended December 31st 2012.

FTSE 250-listed oil and gas exploration company Heritage Oil disappointed investors on Tuesday after posting wider full year pre-tax losses from continuing operations for the full year ended December 31st 2012.

The group reported a loss after tax from continuing operations of $182.3m (2011: loss of $63.0m), largely as a result of increased finance costs, the impairment of intangible exploration assets, and acquisition expenses.

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